Euromoney March 1998
Swashbuckling Swiss Bank Corp is plundering Union Bank of Switzerland as if it were a captured Spanish galleon. But is it taking the right people? And has UBS got something to teach the number-crunchers about relationship banking? David Shirreff reports.
Euromoney March 1998
A ruling by a court in Denver, Colorado, threatened to frustrate all the Wharf group's dealings with US banks. US firms may be entitled to seek redress from their own courts - even if the dispute is on the other side of the globe - but to Hong Kongers this seems like US imperialism. Steven Irvine reports.
Euromoney March 1998
Japan's public are howling for more blood as scandal after scandal rocks Tokyo's bureaucratic elite. Practices silently condoned for years have hit the headlines. The biggest loser is the once-mighty ministry of finance which may no longer call the shots on fiscal and monetary policy, or parachute its old boys into bank chairmanships. Andrew Horvat reports
Euromoney March 1998
Canadian bank CIBC has built up a good track record in the US since developing an investment-banking strategy in the early 1990s. Now it's consolidating its position south of the 49th parallel by merging with New York firm Oppenheimer. Michelle Celarier reports.
Euromoney March 1998
Do countries learn by their mistakes? Latin America has made many but this time it got things right. Prompt government action has contained volatility so far. Economists have been studying the winning policies. But can these lessons be taught or must they be gained from experience? Brian Caplen reports.
Euromoney March 1998
Frankfurt's capital markets brokers have endured a constant squeeze on their commissions. And banks don't like them trying to swell their income by adding advisory services or touting downstream for clients. But the fierce competition leaves them with little alternative. A few of them have decided it's do or die, but tact is needed. Laura Covill reports.
Euromoney March 1998
Banks like lending money to cement relationships. With a credit derivative they can get the loan off balance sheet and lend some more. Where's the catch? The market for these products is still in its infancy, although there are pockets of liquidity. And payout practice and definitions of default need standardizing. But the market is revolutionizing the way banks handle credit and their balance sheets. Theodore Kim reports.
Euromoney March 1998
Choppy markets have brought large, liquid issues from highly rated credits to the fore. With sovereign borrowing down, supranationals are taking their place. In this environment, getting investors interested in smaller corporate issues is tough. Rebecca Bream reports.
Euromoney March 1998
Ask a big European corporation what its cost of capital is and you may still get a vague answer. But as cosy national markets become a thing of the past, Europe's companies are beginning to think seriously about what benefit they offer their shareholders. Antony Currie reports on the spread of financial restructuring, gearing and share buy-backs.
