Record outflows in June; Leveraged loans hold firm
Record outflows in June; Leveraged loans hold firm
JAL re-listing seen as likely market catalyst; Nikko AM and Nexon other possible listings
A lengthy, post-stimulus grind of deleveraging is the most likely model for the world economy in the immediate future.
If the Obama administration and the rating agencies are to be believed, the US is looking down the barrel of its first ever default.
Potential market hit hard; Market impetus moves to investor pull
Mark Johnson looks at an updated version of a classic work on the origins and development of Europe’s single currency.
US regulators face a struggle in enlisting China to stamp out stock frauds.
Recoveries in Europe for distressed junior lenders compare well with the US despite the lack of a single bankruptcy framework.
Sovereign debt crisis increases client demand for research; Pending capital requirements push banks to advice-based model
A slowdown in emerging markets growth is the last thing a troubled global economy needs.
Opening for business in Peru; Expects to grow on Lima exchange
The Spanish bank deal was priced to go; Government pressure might have helped
Growth exceeds expectations; Chinese authorities slowly loosen capital controls
If there is scant market reaction to a downgrade of the US sovereign, rating agencies will lose face.
The initial relief rally that greeted the second bailout plan for Greece last month was predictably short-lived.
Sovereign stress might limit refinancings; Covenant threat from revolvers
By linking the debt ceiling to a credit event of catastrophic proportions, Treasury secretary Timothy Geithner was presumably trying to emulate former Treasury secretary Henry Paulson, who entered the history books in 2008 when he reportedly walked into a meeting with Congressional leaders armed with only a two-page draft Bill and demanded $800 billion to avert global financial meltdown.
AIA CEO Mark Tucker talks about spending AIA’s $5 billion cash pile, the potential for acquisitions and the key business drivers in the toughest Asian markets.
AIA CEO Mark Tucker outlines plans for AIA to catch up in bancassurance and expounds his views on the key China market and the competition in Asia
Asian insurer AIA reports record first half results today.
By rating Chile higher than many struggling European sovereigns, ECR economists are sending a strong message to governments and rating agencies alike that creditworthiness must be earned rather than inherited.
Swiss bank stands by CoCo strategy, says market impetus will move from regulatory push to investor pull
Palliative measures to economic malaise are being proposed on both sides of the Atlantic, with little attention to underlying problems of budget deficits and a needed monetary union.
Even as a US default looms, treasury yields continue to set new lows and the dollar remains relatively stable.
Investors look for alternatives, fearing erosion of safe-haven status
Tests suffer from negative market perception; Impact may be positive if banks seen to be coming clean
Abigail Hofman muses on the banks that are succeeding, Euromoney’s success in raising £600,000 for a worthy cause, and why bank chiefs are so bad at managing their succession
‘Shock and awe’ proposal to recapitalize banking sector and prepare it to take losses
ECB should reopen SMP and a hugely increased EFSF must buy in secondary; pro rata EFSF guarantee structure could threaten France
Already the rumour mill is whirring that Italy’s banks may fail the EU’s stress tests due on Friday, with none more vulnerable than UniCredit.
Delayed rule equivalent to US’s Reg M; Sources say insider trading the real issue
Infrastructure and fuel inflation drive issuance; AfDB creates domestic bond index
CEOs can be forced to testify; Accused companies face difficulties in counter-suing
The IFC’s response to the banking crisis in emerging Europe could offer guidance for those seeking a solution to Greece’s woes.
Local players still dominate; International banks target market share
More Chinese companies listed in the US are considering going private as scandals dogging the sector harm their valuations, according to investment bankers working with those companies.
Nathaniel Rothschild’s latest investment vehicle pits huge reward potential against substantial downside risk.
The flurry of deals among stock exchanges is a fight for relevance in a world in which regulation and technology have lowered barriers to entry.
Complex financing comprises three facilities; Biggest Islamic deal for private-sector borrower
Wider LatAm agreements planned; Brazil to introduce high-frequency trading
Unlikely to threaten OTC market; Other exchanges chase incumbent CME
Five failed Russian IPOs in London this year; Realistic pricing key for successful deals
There are doubts that the peripheral countries have the will to cut and tax their way to stability.
Amid the storm of accusations, counter-accusations and recriminations that has characterized the developing China overseas-listed stock scandal, much more has been written and said about the question of whether the companies involved are scams than what might have driven these alleged frauds to mislead their investors in the first place.
Default at its telecoms operator might soon add to Ireland’s woes.
Growing concern in the US that a Greek default could prove to be Europe’s equivalent of the Lehman Brothers collapse threatens to exacerbate trans-Atlantic tensions and spoil trading prospects for global investment banks.
Fears over market-unfriendly policies rise; But are not justified says BAML banker
Fund raised €8 billion in June; Calls for EFSF Greek debt exchange
$4 billion loan in return for oil; China bolsters strategic relationships in South America
Offshore renminbi market surges; Driven by corporate activity
Corporate issuers bring volumes to $1.5 billion; End of the long-duration trade?
Deutsche’s CIB chief knows market share is crucial in the post-Basle III world, and believes that a closer integration of its businesses will be key to achieving it.
Already a powerhouse in FICC, Barclays Capital is muscling its way into the upper echelons of global M&A advisory and equity capital markets.
Behind Jerry del Missier, Rich Ricci and Bob Diamond, the three men most renowned for building Barclays Capital, there is another cadre of long-standing members of the same executive team with lesser public profiles.
Before you adopt a common currency be sure you are dealing with one country not a group of countries with different monetary and fiscal capabilities.
Fischer says there needs to be “distance” between Europe’s problems and how the IMF deals with the crisis; calls leadership rules “archaic”