May 2005
| Euromoney May 2005 Multi-billion dollar leveraged buyouts are back with a bang, spurred on by low funding costs in the loan market. But with high yield faltering, can private equity firms and their financiers stomach the risks, or could these deals be the distressed loans of tomorrow? Kathryn Tully reports. |
Euromoney May 2005
As US takeover activity booms again, corporate executives and their advisers are spending as much time weighing the legal implications of their decisions as the strategic benefits of bids. Welcome to M&A post Enron and Sarbanes-Oxley. Ted Kim reports.
Euromoney May 2005
The spat between Morgan Stanley's chief executive and former senior managers benefits no one. It is time for Purcell and the grumpy old men to do what shareholders really want – walk away. But has the row left a leadership vacuum at the top of the firm? Antony Currie reports.
Euromoney May 2005
A flurry of big private-equity bids by hedge funds has sparked a turf war between two of the hottest growth sectors in recent years. Although some private-equity players reckon the threat to their business has been overstated and that hedge funds are ill equipped to handle private-equity deals, others are taking drastic steps to see off the competition. Joanna Hickey reports.
Euromoney May 2005
Japan's institutions are increasingly investing in hedge funds. But getting a fund off the ground in Japan is a tough task – institutions prefer large funds, but with few individual Japanese willing to invest it's hard to boost size. Helen Avery reports.
Euromoney May 2005
Debt issuance from the 12 Federal Home Loan Banks could soon outstrip that from the better-known US housing agencies. At the FHLBanks' office of finance, they're taking it all in their stride. Mark Brown reports.
Euromoney May 2005
US smaller-cap growth companies lost much of their investment banking support after the tech boom collapsed in 2000. But three firms with a solid research base and San Francisco roots are working hard to fill the gap. Antony Currie reports.
Euromoney May 2005
A recent example from Germany suggests that timing can be crucial when it comes to pricing an IPO – later works better apparently. Listening to investors offers a way of avoiding embarrassing repricings. Peter Koh reports.
Euromoney May 2005
Euromoney May 2005
Euromoney May 2005
The sector is consolidating fast. And while major banks focus on securing a place in the top tier, smaller firms are left to contemplate a choice between white labelling and finding a profitable niche market.
Euromoney May 2005
The creation of financial centres and the opening of banking markets in the Gulf to foreign players are broad themes across the region, which is riding a wave of liquidity. Bank consolidation should be the next consideration. John Hamilton reports.
Euromoney May 2005
Fast thinking and fancy footwork from Metcash Trading, one of Australia's leading grocery businesses, have helped turn a vulnerable company into an acquisitive one. Chris Leahy reports.
Euromoney May 2005
The forced merger of three failed institutions to create Bank Mandiri, now Indonesia's largest bank, also spawned a new domestic securities house. Mandiri Sekuritas is half done in reaching its goals, reckons its management. Chris Leahy reports.
Euromoney May 2005
It is difficult to tell what is going on in South Korea at the best of times. The government speaks the language of reform and even harbours regional financial ambitions but its actions often appear to contradict its public statements. Recent events surrounding distillery Jinro's restructuring are no exception. Chris Leahy reports.
Euromoney May 2005
Left for dead after the financial crisis, the Philippine stock market is barely a rounding error on foreign investor's portfolios. But despite the country's economic woes, the market has emerged recently from its long sleep. Whether the recovery is a long-term trend or a brief flutter on an otherwise flat line seems to be up to the government. Chris Leahy reports.
Euromoney May 2005
How do fund managers aim for long-term performance when they are assessed over the short term? Henry Blodget offers an answer.
Euromoney May 2005
Euromoney May 2005
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Euromoney May 2005
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Euromoney May 2005
Forecasts of a soft landing for the global economy are off the mark – disinflation is at an end and interest rates are on the rise. For safe havens investors should look to gold and the euro
Euromoney May 2005
Governor, National Bank of the Kyrgyz Republic
Euromoney May 2005
EU stock exchanges are taking action to stop issuers deserting them because of cost increases caused by the impending Prospectus Directive.