November 2010
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LATEST ARTICLES
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A stand against foreclosures might be a vote winner but it has deleterious economic consequences.
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To hire seven FIG bankers by December; Adding 50 in Asia over next nine months
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The Irish government must push through an austerity budget and stabilize its finances before returning to the capital markets next June. It hopes to resolve its banking system and property sector problems through early recognition of losses. If this bold experiment fails, the country might yet be a test case for euro sovereign debt rescheduling.
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A merger between the companies that own the Australian and Singapore exchanges is only a first step towards an integrated market.
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That banks and mortgage servicers may have foreclosed on US homes without adequate documentation further blackens their already tarnished reputations. But the foreclosure scandal has increased the prospect of a far greater attack on mortgage securitization – one that even if it does not destroy the market altogether could cost the banks as much as $180 billion. Helen Avery, Louise Bowman and Peter Lee report.
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Being a fixed-income investor in Europe just got a whole lot trickier.
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Return to positive growth in 2011; Credit risk spreads down, equity investor interest up
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Deal flow to continue into Q1; Strong foreign capital inflows in Brazil
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Spanish lender looks for growth abroad; Other Turkish lenders expand their horizons
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"It’s getting to the point where clients are looking not at which banks would be good to run the deal but which will lie to them best"
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The confirmation of disappointing third-quarter sales and trading revenues for most banks set the stage for a crucial fourth-quarter push by investment bankers – the push to maximize their own bonus payments.
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Lack of transparency concerns potential partners; Cinda leads the group in JV creation
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Swiss bank announces key hires; Next step in recovery from Pactual sale
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The proposition that if you build an investment banking franchise clients will come was severely tested in the third quarter. Sales and trading revenues were weak for most dealers, though with wide variance between big firms. Results were particularly poor for banks such as Morgan Stanley and UBS that had been rebuilding their investment banking franchises on the assumption that an aggressive push into flow business lines would result in increased client volumes.
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Pension funds are slashing their allocations to equities and reorienting their portfolios to more accurately match liabilities. Strategically that makes sense. Tactically it smacks of buying at the top and it is already creating distortions in markets.
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Dropping of Nedbank deal still unexplained; Door now open for Standard Chartered
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Canadian bank sees great potential to distribute credit investments; BlueBay’s founders hope clients will take comfort from RBC’s capital strength
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The cancellation of the Nedbank acquisition reflects badly on HSBC.
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Continued economic growth is under threat from a backlog in infrastructure development. Obstacles to foreign and domestic financing of the sector urgently need to be overcome. Rob Dwyer reports.
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Investors should diversify into developed market companies with high emerging markets exposures to capture these economies’ growth.
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The EU’s plans to tighten measures to prevent eurozone instability and discipline transgressors are admirable in theory. But implementation will be a tough task and is not in any case achievable until 2013.
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Bond resurgence eschews riskier banks; Project bonds might seal demise of loan dominance in Gulf
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Second rise in as many weeks; Analysts sceptical of its effectiveness
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Pan-African group restructures operations; Investment unit to trade 17 African currencies
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Cairn boss breaches protocol; Vedanta struggling to raise cash
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Senior RMBS bondholders will pay the price from US mortgage chaos.
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Year-end markets boom continues; JPMorgan reaches the top
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Development bank crowds out private sector; But has vital role in infrastructure development
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In the battle to rebuild war-torn Afghanistan, Kabulbank inserted itself as a key player, building the country’s largest deposit base and becoming the payment agent for many government enterprises. But a run on the bank in August led to the ousting of colourful poker-playing bank owner Sherkhan Farnood. What does this mean for the country’s banking sector? Eric Ellis reports.
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There’s rarely been a better time to be a mortgage banker in the US.