October 2002
| Euromoney October 2002 At the top of the market, every ambitious bank wanted to own a global asset management operation. They were prepared to pay high prices for supposed steady earnings providers. But as markets have plunged revenues have tumbled and now banks are wondering what investment houses are really worth to them. |
Euromoney October 2002
The legislative push against corporate malpractice in the US
looks set to place a burden on foreign companies listed there and might discourage others from joining them.
Euromoney October 2002
As investment banks turn ever more to proprietary trading to make profits amid the market slowdown, their reported earnings are becoming increasingly volatile. This quarter, Goldman made a bundle and JPMorgan took a hit. Next quarter, who knows? Investors and ratings agencies are becoming worried.
Euromoney October 2002
Russia's nascent corporate bond market has been stunted by illiquidity, high yields, short maturities, punitive taxation, early put options and the lack of a properly functioning banking sector. And it is about to face its greatest test.
Euromoney October 2002
Nigeria is in an economic and political mess but by no
means insolvent. Why then does it look likely to default on bond payments?
Euromoney October 2002
The pizazz of the early days of e-forex is over as e-trading becomes more pervasive and commoditized. With all the main players now in the e-market, a core need is to differentiate yourself from competitors.
Euromoney October 2002
Turning 13 disparate institutions into an investor-friendly flotation as Bank of China Hong Kong was never going to be easy. But then came NPLs, scandals, fear of guilt by association with Andersen and crashing markets.
Euromoney October 2002
Cash-strapped insurers are rushing to replenish funds through rights issues and secondary offerings. Most can justify them on the basis of poor results, but isn’t one of them, Legal & General, being a little greedy?
Euromoney October 2002
The unwelcome onslaught of formerly high-grade European credits on the high-yield bracket has increased the risks in an already concentrated and volatile market, increasing investor uncertainty.
Euromoney October 2002
Broader groupings among German mortgage banks, such as the long-awaited Eurohypo, look to be the best route out of a depressed market.
Euromoney October 2002
The world’s largest financial services firms are realizing that Muslims would increasingly like to invest through Islamic funds. These are growing in number but have had a rough ride in the global bear market since many of them were heavily invested in technology stocks.
Euromoney October 2002
Euromoney October 2002
Euromoney October 2002
Euromoney October 2002
Euromoney October 2002
Japan
Euromoney October 2002
Telecoms
Euromoney October 2002
Deal flow
Euromoney October 2002
US business and politics
Euromoney October 2002
Equities clearing
Euromoney October 2002
Fund management and custody
Euromoney October 2002
Sovereign debt
Euromoney October 2002
Russia
Euromoney October 2002
Russia
Euromoney October 2002
Issuer: Barclays Bank plc
Amount: $1 billion
Launched: 18 September 2002
Bookrunner: Barclays Capital
Euromoney October 2002
Marconi’s restructuring is troubling the derivatives market. The banks that have bought protection against the company are unsure whether its agreement with lenders counts as a credit event. Could banks find their credit swaps against other companies are similarly vague?
Euromoney October 2002
President and CEO, Delta Capital
