Economics

China for example, aims to increase their buying by 400,000 barrels a day in the last quarter of 2012, and will be adding over 750,000 barrels of new refining capacity. That economic engine is still turning.

We have open and transparent pricing through our futures exchange- that means price is determined by buyers and sellers and not an 'official' selling price set by a producer.

Even though Brent has been successful in terms of becoming a larger and more liquid benchmark, it is the 'least worst' option.

You are only ever one click away from looking at another alternative… The ability for the consumer to shop-around has made it difficult for some operators to realise the need for transparency in pricing… particularly when your product is built around opacity.

Travel is a market that will always do well, in the absence of one of two factors. Firstly… if the global economy goes soft- since travel is a discretionary spend- it will go soft faster than the rest of the economy.

The industry is so big that it's difficult to give a general read of its state. It's a bit like saying 'what's the state of the global banking industry?' You could do a broad-brush and say that the banking industry is full of corrupt individuals intent on defrauding the world, or you could say that in some markets banking is doing very well- and in others it's doing terribly.

Following the crisis, nobody actually pinpointed its cause and hence where the deficiencies were. There were knee-jerk reactions to say hedge-funds caused it with leverage, they're bad and must be regulated…. but nobody looked at the fact that the market created a load of products that nobody understood, and then failed to manage them properly.

You can't stop risks completely, that's the whole point of a free market.

The key danger is that regulators try to remove all the risk from the marketplace- this cannot be the case. There has to be risk in all these products, and if they try to remove them too much, they'll create vanilla products that simply cannot deliver.

A corporate bond is ultimate a long-term loan structured in the form of a bond. Corporate entities are not default-remote and are not guaranteed to pay-back their debts.

Climate scientist and energy systems researcher at University of Manchester

Transparency is paramount. We have to make sure that we have sufficient transparency in the investments we are making, to be able to manage risk for our clients.

Climate scientist and energy systems researcher at University of Manchester

Investors who previously thought that sovereigns were a quasi-risk-free asset have been challenged in that respect. Domestic local-currency sovereign debt is certainly not risk-free. It very much depends on the willingness and ability of the sovereign to pay-back its debt!

Climate scientist and energy systems researcher at University of Manchester

Sovereign debt is reasonably unique in that there are no underlying assets one can claim unlike corporate bonds.

Climate scientist and energy systems researcher at University of Manchester

Before you think about the alpha, you have to think about the client's beta.

Climate scientist and energy systems researcher at University of Manchester

The only source of value in our business is the consumer's desire for the product. That desire is built on emotions ascribed to diamonds.

Diamonds are rare, there haven't been any major finds for over 20years, and there are no major mines on the horizon. Demand- particularly in China and India- is growing rapidly, and in the very near future we will see demand outpace plateauing supply.