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John Wilson

they were building up a nice nest-egg for their retirements – could only wait for trading to be restored and a significant reduction in the value of their holdings. Similarly, customers were stunned at the news, not least the MoD officials who for many decades had placed considerable faith in Ferranti equipment. With the debate raging over who would supply key components to the Tornado programme, not to mention considerable consternation about the future of the UK defence budget as the Cold War seemed to be coming to an end, the firm’s recovery prospects were under

in Ferranti: A History
Mike Buckle and John Thompson

Merrill Lynch were all fined; Barclays rejected an early settlement and said it wanted to wait for a coordinated settlement with other regulators. 10.5   Nature of forex business Four types of market transactions can be distinguished: spot transactions; outright forward transactions

in The UK financial system (fifth edition)
Abstract only
Frugality, de-growth and Voluntary Simplicity
Alison Hulme

.) In fact, perhaps there is something about not feeling in control to be said here; a sense that if citizens are at the behest of an all-​powerful external being then thriving is not in their own hands, and all that can be done is to be frugal and hope for the best. In contrast, once the idea of power being in another entity’s hands is removed, then thriving becomes more important and more possible  –​humankind can make decisions to thrive because they are not waiting for either God or the economy to enable the good times. Indeed, the creation of enjoyable lives

in A brief history of thrift
Why China survived the financial crisis
Shalendra D. Sharma

important so that the banks (and other financial institutions) cannot mask problems such as a high proportion of non-performing loans, and, for banks involved in international transactions, that a healthy balance between assets and liabilities denominated in different currencies exists. Asia’s financial crisis vividly demonstrated that systemic problems in the banking and financial sector are accidents just waiting to happen – or more appropriately, waiting to “explode” without warning and quickly engulf the economy as a whole.19 According to The Economist, China has “the

in The Asian financial crisis
Abstract only
Mike Buckle and John Thompson

than waiting for the end of the day. The idea of real-time gross settlement is to avoid settlement risk through the knock-on effects of the failure of a counter-party. One example of this risk is provided by the Herstatt bank failure in 1974, when, because of time zone differences, customers with some foreign exchange contracts were left unpaid, although they had completed their

in The UK financial system (fifth edition)
Joe Earle, Cahal Moran, and Zach Ward-Perkins

next year. It wasn’t until halfway through our degree that we realised that we might be waiting in vain. This was the spark for us to set up the Post-Crash Economics Society and start to campaign for curriculum reform. It was not until later that we found out that this particular and narrow way of thinking about the economy was the approach taught at most universities across the world. In this chapter we examine university economics education in the UK and argue that the next generation of economic experts are being systematically miseducated. It is clear to us

in The econocracy
Oonagh McDonald

than one country. Rodgers and his team at Deutsche Bank noticed a change in the behaviour of one large American fund and eventually discovered that it was engaged in ‘latency arbitrage’: Its computers would constantly monitor the market, wait for a large order or information release to move prices on EBS [Electronic Broking Services] or elsewhere. Then its computers would ‘look’ around the prices shown by its banking counterparties and deal on any rate that was too slow to respond. Deutsche Bank’s ARM, its computer system, was programmed to alter prices in this event

in Holding bankers to account
Open Access (free)
Oonagh McDonald

brokerage services to a large number of hedge funds, as a result of which hedge funds placed investment assets with Lehman's broker-dealer units in various jurisdictions. These assets were used as collateral for funding activities and were then reused by Lehman to meet its own obligations (re-hypothecation). The bankruptcy meant that many of Lehman's clients could not access their collateral assets during the whole process, whilst their assets changed value and they waited for the completion of differing legal processes. This would alter the size and location of hedge

in Lehman Brothers
Problems of polysemy and idealism
Andrew Sayer

markets are just one form in which those opportunity costs sometimes get reflected. We could say that the notion of the market as ether refers to ‘implicit markets’, but this still tendentiously suggests that real markets are the normal form of economic organisation, and, if absent, are held back by pre-modern conventions and practices, ill-defined property rights and state restrictions, and are just waiting to be ‘freed’, whereupon economic benefits are supposed to follow. In this way, the conceptual slide from imaginary to actual markets is closely associated with

in Market relations and the competitive process
Implementing the second Memorandum
Costas Simitis

investment remains the principal shortcoming in the effort to deal with the effects of the crisis in Greece today. Owing to the turmoil, investors are afraid of losing their money. They are either avoiding Greece altogether or are waiting for the return of more stable conditions for investment. Short-term speculative investments do little to finance anything in the way of recovery or a return to growth. For growth to return, there needs to be absolute clarity regarding Greece’s future in the Eurozone; only then will it be possible for businesses to plan, and weigh the

in The European debt crisis