Tensions between Venezuela and Mexico are escalating following a war of words that began at last month’s Summit of the Americas trade meeting. Venezuela’s president Hugo Chávez called Mexico “an ally of the empire” and “a puppy of the United States” for backing George W Bush’s plan to create a region-wide free trade zone.

With “no comment” seemingly the stock response to any question that is not about the latest all-singing, all-dancing enhancement to their internet trading platform, senior level appointment or record day, being a press officer or PR for an FX player is probably the easiest job in the market. To encourage more openness, it might be time for Euromoney to launch new categories in its highly regarded and prestigious polls – “most and least helpful press officers of the month”. Polling has already started.

According to a new compensation survey by executive search and consulting firm Options Group, M&A bankers will enjoy the biggest increase in overall compensation (salary and bonuses) in 2005, up 20% to 25% on average compared with 2004. Those M&A bankers in Europe are set to get the biggest increases.

Lack of liquidity and diversification still restricts managers’ strategies.

London-based Nikolaus Hohenberg has become UBS’s new head of debt capital markets financial institutions group Germany. He replaces Martin Keutner, who has moved from London to Zurich to work at UBS Wealth Management. Alongside Hohenberg will be Joerg Mueller, who is working more closely on enhancing the covered bond effort. In the summer, UBS also hired Mariano Aldema and Miguel Pinto to its Iberian FIG team with the aim of boosting its Cedulas business.

UK Takeover Panel amends its rules on contracts for difference.

No one saw BoA’s move for “Mimmo” coming – it was an audacious raid.

Greater anonymity, leverage and lower trading costs are seen as incentives.

Cantor Fitzgerald offshoot BGC is being coy about the apparent closure of its spot FX broking business.

But UK regulator will not ask for position data.

Brazil’s biggest private sector bank is a retail powerhouse. But Bradesco’s president Márcio Cypriano tells Sudip Roy that the bank intends to beef up its capital markets business.

From an asset class perspective, the CDO sector dominates the pipeline and within that sector CLO issuance is at the vanguard.

Help could be at hand for market makers in jumbo Pfandbriefe that want to hedge spread movements between different issuers.

CLSA and Asian Corporate Governance Association (ACGA) published their annual corporate governance rankings this year entitled “The Holy Grail”. The research, pored over by zealous regulators eager to pat themselves on the back, scores Asian markets on various issues affecting corporate governance, including regulation, enforcement and even “culture” (see table). Most notable this year is Taiwan’s jump up the table and Korea’s slide down it.

As bankers work feverishly to complete mandated China and Hong Kong IPOs before the final window shuts ahead of the Christmas break, there are hints of investor indigestion.

Amir Hoveyda has become sole head of EMEA debt capital markets at Merrill Lynch. Appointed joint DCM head a year ago, he will pass responsibility for financial institutions to Siddharth Prasad. Under Hoveyda, Merrill has enjoyed a significant success in hybrid capital. His former co-head, Spencer Lake, will now focus on the public sector and corporate coverage effort. Jan Pethick remains chairman of EMEA DCM, which comprises all origination activities across the fixed income universe, including cash and derivatives.

Deutsche survey finds CFOs think they are great at what they do.

Modest though it might appear, China's first fully-fledged buyout of a state-owned enterprise is significant.

Resolution becomes a new type of insurance participant in the Tier 1 hybrid insurance capital sector.

Thailand’s largest ever IPO, the $850 million partial privatization of Egat, the Electricity Generating Authority of Thailand, was pulled at the last minute after a judge suspended the public offering in order to hear petitions relating to the legality of the privatization. Underwriters of the deal are said to be furious at the action that has effectively stalled the deal for the second time. Last year the planned IPO was shelved after union disputes. The court action is an embarrassing setback for the government of Thaksin Shinawatra and a disappointment for institutional investors who regarded Egat as an attractive and liquid play on the Thai economy. Local investors are also peeved: it was hoped the Egat IPO would provide a much-needed fillip for the Thai market, which is languishing close to 52-week lows.

Regulators can congratulate themselves after continuous linked settlement worked, but mutterings of serious shortcomings carry on.

Report says lower risk weighting will encourage banks to look at MMFs.

Explanations for the market's significant retreat in November are more complex than for previous years.

Wondering what to do with that well-earned bonus? Embarrassed by unsightly bulges when you’re working out at the gym?

Announcing its second annual report, Temasek Holdings, a Singapore-based private-equity group owned by the Singapore government, announced total shareholder returns in 2004 of 16% on its investment portfolio, down from the 46% returns earned during the previous year.

Hurricane Katrina blamed for extreme changes in cross-border flows.

Most of the key investments in China’s largest state-owned banks have been settled, but international investors are still eager to pour money into the sector. ICBC, NCCB and Hua Xia Bank are all on the receiving end.

JPMorgan Asset Management has won entrepreneur Sir Alan Sugar’s City of London contest to raise money for the Hackney Empire, an east London theatre. Eight firms competed in the challenge, based on TV programme The Apprentice, which started in the UK in October. The aim was to raise as much money as possible. JPMorgan raised almost £98,000 of the £195,000 total.

Cash offer for O2 prompts concerns that telecoms sector might be about to embark on another debt binge.

A spate of poor deals gets the investment bankers thinking. After a difficult October, in which initial public offerings met with a variety of fates, attention last month swung once again to the IPO process itself.