“IT WOULD be suicidal to fight them,” says the chairman of a big international bank, speaking of America’s regulators and prosecutors.
HAS Tom Hanks just made life worse for real pirates as well as those on the big screen? David and Teresa Stevens run a small British company called Marine and Auto Security Solutions (MASS) that manufactures a device called Guardian.
THIS time is different. It is one of the oldest mottos in the financial markets. When Japanese shares traded at intimidating multiples of profits in the late 1980s, sceptics were told that Western valuation methods simply did not apply to Tokyo stocks.
Credit risks A LUXURY fridge worth ¥200,000 ($2,000) was one of the goodies that yakuza gangsters bought with loans from a consumer-finance arm of Mizuho Bank.
ECONOMISTS see reducing sexual inequality in education as a vital part of promoting development. The failure to educate girls limits economic growth in the developing world by wasting human capital.
ON AN enormous campus in Shenzhen, in the middle of China’s manufacturing heartland, nearly a quarter of a million workers assemble electronic devices destined for Western markets.
AFRICA is a continent rich in minerals and oil. China has an economy that requires them in abundance.
AS CORPORATE-BOND issuance has swelled in recent years, so have its more exotic offshoots. None is more exotic than “hybrid” bonds, of which €23 billion-worth ($32 billion) have been issued in Europe this year, according to Royal Bank of Scotland, more than doubling the size of the market.Banks have been issuing instruments called hybrid bonds for a while, most recently as part of the effort to strengthen their balance-sheets after the financial crisis.
CONSTRUCTION cranes tower over the angular glass facets of the new headquarters being built in Frankfurt for the European Central Bank (ECB).
IT MIGHT seem like a marriage made in heaven. Infrastructure projects take a long time to build but then deliver cashflows over an extended period.
Out on a limb FEW lines of work are more precarious than the American footballer’s—his average professional career is limited to just 3.2 years.
THE European Central Bank (ECB) announced this week how it will undertake a root-and-branch examination of banking assets before it takes charge of supervision in the euro area late next year (see article).
JOHN MAYNARD KEYNES once equated stockmarkets to the “activities of a casino”. But back in 1936 even he may not have foreseen the evolution of financial spread betting—which involves gambling on the price movements of shares and other assets.Invented by a Chicago bookmaker to gamble on sports scores in the 1940s, spread betting found a niche in 1970s Britain as a way to speculate on financial markets without paying capital-gains tax.
TEN-YEAR-OLD Ekinops, a small French company that facilitates data transmission over high-speed fibre-optic cable, went public in April, raising €6.7m ($8.7m) on NYSE Euronext in Paris.
JPMorgan Chase, America’s largest bank, has provisionally agreed to pay $13 billion to regulators to resolve investigations into its mortgage activities.
ALTHOUGH investors are now less jittery about a possible default by the American Treasury, they are rightly still nervous about a drama unfolding in the market for state and local debt.
WHEN Federal Reserve officials released their latest round of economic projections last month, they included a striking revelation.
WHEN cash deposits pay virtually zero, investors have an incentive to take risks in search of higher returns.
Take me to your infrastructure practice THE World Bank may need a period of quiet reflection, but this was ridiculous.
The skyline has changed but the exchange rate hasn’t “WHATEVER exchange-rate system a country has, it will wish at some times that it had another one,” according to Stanley Fischer, a former central banker.