China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

EuromoneyFXNews.com

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October 2009

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BGC comes up trumps again: Annual Global Charity Day


On September 11 BGC Partners held its Annual Global Charity Day, involving the slightly bizarre sight of well-known (and indeed not-so-well-known) celebrities wandering around the inter-dealer broker’s trading floors taking calls from clients.


In London the notable names gracing the floor during the day included Alastair Campbell (although interestingly he didn’t make it on to the press release), Jonathan Ross, Lisa Snowdon, Carol Vorderman, Beverley Knight and Gail Porter. And Euromoney was excited to see Manchester United manager Sir Alex Ferguson taking calls when we arrived (particularly after the slightly worrying experience of signing in ahead of Christine and Neil Hamilton).

Your earnest correspondent stood very close to the football manager in an attempt to pass on any trading tips but he was playing his cards very close to his chest.

Talking of cards, in New York Lady Gaga sang "Poker Face" over the phone – presumably prompting a deluge of calls in the hope that she might stop. Other famous names taking calls in New York included Whoopi Goldberg and Gary Sinese.

The broker raised more than $10 million on the day, bringing the total over the past four years to more than $33 million. Every year on September 11 BGC donates its global revenues to charity in commemoration of those lost in the World Trade Center attacks.








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