Hi all, it’s Jackie here in Sydney. Macquarie is staring down losses of tens of millions on FX trades with an Italian builder. But first...Today’s mus
Hi all, it’s Jackie here in Sydney. Macquarie is staring down losses of tens of millions on FX trades with an Italian builder. But first…
Today’s must-reads:
• RBA’s key challenge this year
• Carbon credit market avoids revamp
• China’s rare-earths rivalry
Macquarie says it’s facing a $49 million loss after currency derivatives trades with Italian builder Cimolai went awry. The bank joins a growing number of finance firms pursuing Cimolai for money they claim is owed from derivatives linked to the euro-dollar exchange rate, which fell to its lowest level in about two decades in September.
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