{"id":11218,"date":"2009-08-10T00:00:00","date_gmt":"2009-08-10T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"guardian-lost-24m-in-bungled-currency-trading","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2009\/guardian-lost-24m-in-bungled-currency-trading.html","title":{"rendered":"Guardian lost \u00a324m in bungled currency trading"},"content":{"rendered":"<p>Times Online &#8211; Guardian Media Group, the owner of The Guardian and The Observer newspapers,  lost &pound;24m last year on botched currency trading as it tried to protect  hedge-fund investments.  <\/p>\n<div class=\"feedflare\">\n<p> The newspaper publisher, which is considering closing<em> <\/em>The Observer,<em> t<\/em>he  world&rsquo;s oldest Sunday newspaper, was caught out by the dollar&#8217;s rapid rise  against sterling which led to a &pound;24m loss.  <\/p>\n<p> The investments were made out of a &pound;200m investment fund designed to spread  GMG&#8217;s risk away from volatile advertising markets.  <\/p>\n<p> Sources said the fund was never intended to make a profit in its first year  and the losses were the result of a &#8221;mark to market&#8221; valuation at the end of  March. However, the scale of losses from derivatives investments, which  contributed to a &pound;90m annual group loss, will alarm its left-leaning  readership.  <\/p>\n<\/p><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" height=\"1\" width=\"1\" border=\"0\" src=\"http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~4\/yPRTSoYV8LI\" \/><br \/>  <a href=\"http:\/\/business.timesonline.co.uk\/tol\/business\/industry_sectors\/media\/article6788612.ece\" target=\"_blank\" title=\"Read Complete Article\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Times Online &#8211; Guardian Media Group, the owner of The Guardian and The Observer newspapers, lost &pound;24m last year on botched currency trading as it tried to protect hedge-fund investments. The newspaper publisher, which is considering closing The Observer, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[15108,5149,4255,5775,11148,465,129,4892,15113,15109,15114,15110,15112,15111,86,14887],"class_list":["post-11218","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-currency-trading","tag-derivatives","tag-fund-investments","tag-guardian","tag-hedge-fund","tag-investment-fund","tag-losses","tag-market-valuation","tag-media-group","tag-newspaper-publisher","tag-newspapers","tag-rapid-rise","tag-readership","tag-rise-against","tag-risk","tag-sterling"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=11218"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11218\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=11218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=11218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=11218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}