What was Lloyds Banking Group’s Martin Chantree thinking? Four people with knowledge of the inquiry say he tipped off the bank’s trading position just ahead of its sale of sterling for the dollar. In the seven minutes etween his communication and the time Lloyds began executing the order on Jan. 13, 2013, the pound fell 16 basis points against the dollar, or 0.16 percentage point, its biggest move of the day, according to data compiled by Bloomberg. As the U.K. currency tumbled, costing Lloyds an estimated $750,000, Chantree told colleagues that maybe he shouldn’t have shared the information, two of the people said, according to reporting by Gavin Finch, Ambereen Choudhury and Liam Vaughan.
So there is Russ Girling, TransCanada Corp.’s chief executive officer, tubing giddily through a meandering oil pipeline, crude oil streaking his face, cackling about how a “little old-fashioned lying” got a gullible American public to buy into his Keystone XL pipeline.
Neil Young, the rock singer who said he was prepared to brave “treacherous” venture capital markets to popularize his high-fidelity format for downloading music, raised $500,000 from an investment group last month.
TransCanada Corp.’s proposed Keystone XL pipeline is losing popular support in Canada, a development that could embolden opponents of the project, according to a poll released today by Nanos Research Group.