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BANKING

Why CFOs should stop mistrusting hedge funds

Hedge funds are overflowing with money, and margins on traditional strategies are shrinking. One solution to their search for returns is to offer their services to companies in need of financing. Some are nervous about taking up the opportunities but others are discovering just how useful these new financiers can be.

Helen Avery, November 01, 2005

CAPITAL MARKETS

ECM round-up: The month in numbers

47 The percentage contribution of equity capital market revenues to overall capital market revenues at investment banks in the third quarter. The contribution of ECM revenue to overall capital market revenues rose from just 38% in the second quarter, according to Dealogic estimates. 79,400,000,000 The volume of Asia Pacific (ex-Japan) ECM deals in the first three months of 2005. The figure is the highest for the first nine months of a year on record.

November 01, 2005

Foreign Exchange

CF round-up: GM tries damage limitation

General Motors said it had reached a tentative agreement with the UAW to reduce the company’s spending on healthcare benefits and was exploring the sale of a controlling stake in its finance arm, GMAC. Along with its third-quarter results, it announced total planned cost savings of $6 billion over the next three years from a combination of reduced healthcare spending, sourcing cheaper supplies, making job cuts and closing plants, all in an effort to shore up its balance sheet.

November 01, 2005

Opinion

Brazil makes the wrong move

The sovereign should deepen its domestic market, not issue local-currency debt abroad

November 01, 2005

BANKING

Debt exchange triggers Dominican recovery

With an amazing recovery from the brink of collapse and a comprehensive debt restructuring, everything seems to be going right for the Dominican Republic. But all the old economic weaknesses are still there and they need urgent attention. Felix Salmon reports.

Felix Salmon, November 01, 2005

Opinion

Why the credit market failed to foresee Delphi's demise

The bankruptcy highlights the CDO market’s continued inability to price in potential credit events.

November 01, 2005

The Pera imperative

Philippines pensions face up to default threat

November 01, 2005

BANKING

The benefits of brain damage: Crack addicts outperform others

Experiments show that individuals with a specific type of brain damage, which prevents them from feeling fear, outperform normal players when it comes to making some investment decisions. Crack and methamphetamine addicts as well as alcoholics similarly outperform.

November 01, 2005

Foreign Exchange

Tietmeyer: problems caused by lack of FX flexibility

But the former Bundesbank head defends the creation of the euro.

November 01, 2005

BANKING

Has Brussels got the market covered?

The European Union is introducing the first uniform covered bond legislation. The long-term effects could be beneficial, but some issuers still point to discrepancies between countries that could stifle the development of a cross-border European mortgage funding market. Mark Brown reports.

Mark Brown, November 01, 2005

CAPITAL MARKETS

Montgomery into equities

Montgomery & Co is known for its M&A advisory services. Now, it's pushing into equity research, institutional sales and trading. It will offer specialist research in key areas for growth companies: medical devices, biotechnology, speciality pharmaceuticals, wireless technology, digital media technology and semiconductors.

Kathryn Tully, November 01, 2005

Why pension funds need commodity exposure

Pension funds’ need to outpace the effects of inflation has prompted growing exposure to alternative investments. Commodities look to be a good source of such diversification. But should exposure be direct or through an index? And if the index route is chosen, which benchmark is to be preferred?

November 01, 2005

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