22 April 2016
Ban: Record number of countries sign Paris climate pact More than 165 countries are signing the United Nations Paris Agreement on climate change today, a remarkable level of commitment that "has exceeded my expectations," said UN Secretary-General Ban Ki-moon. "We all have a responsibility -- and an opportunity -- to tackle climate change, starting today and wherever you are," he contends.

GMH Portfolio Bond 111 Launch
LCG is bracing itself towards the launch of the major offering under the Global Monetary Hedge System. GMH PB111 is set to raise a total of US$ 289 Billion over the next 5 years on a 100% derisking counterparty of its equivalent global financial risk exposure set at magnitude 5 over 20 on ORPOL (Overall Risk Position on Lyscale Riskgrade). The Bond offers a guaranteed 23% return for a maturity term of 3 years. Please contact our Investment Offering Team for further information in London on + 44 20 3659 4084

Bad oil loans are piling up at big banks
The Wall Street firms that bankrolled America's oil boom continue to suffer losses linked to loans that look increasingly shaky given the crash in crude prices. And big banks are bracing for more oil loans to implode. Bank of America (BAC) on Thursday announced it set aside $997 million to protect from loan losses, mainly in the bank's $22 billion energy portfolio.

Royal Bank of Scotland Jobs
Royal Bank of Scotland (RBS) just announced that it will be cutting 600 UK jobs in their latest round of job reductions. RBS has let go about 1,500 employees so far this year. The bank is struggling to keep its head above water years after being bailed out by the UK government during the financial crisis and blowing through billions of dollars in losses.

Top 50 U.S. companies hold $1.4 trillion in cash offshore
America's biggest companies are holding about $1.4 trillion in cash offshore to avoid paying billions in U.S. taxes, according to a new report by Oxfam America. Companies are supposed to pay federal taxes on their global profits, but the tax on money made overseas is only due when it's brought back to the U.S.