Covered bonds face an identity crisis

The covered bond market is growing fast on heavy demand for alternatives to supra/agency debt and on buoyant supply as more and more countries pass enabling legislation.

EU approval prompts hopes and fears

Turks of all classes were jubilant about the European Commission's decision last month that their country was ready to negotiate for EU membership.

Diageo finally sells General Mills block

When Diageo offloaded its US Pillsbury food division to General Mills for stock in 2001, it did not expect still to be the biggest shareholder in General Mills three years later.

India sticks with reform

India's Congress-led coalition government has forged agreements with leftist allies to maintain economic liberalization and reforms initiated by the previous administration.

AT&T's last call

With a history as old as the telephone itself, AT&T used to dominate US telecommunications.

Don't rely on VaR

Belief that a single number can capture the degree of risk being taken within a bank or an investment is mistaken, especially when that number is value at risk.