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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.

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.

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.

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.

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

During the IMF/World Bank meetings in Washington at the end of September, some of the leading names in global finance gathered at the Hay Adams Hotel to witness the presentation of Euromoney’s minister of finance and central bank governor of the year awards.

San Francisco likes to think of itself as the most liberal US city. Every May, for example, the famous Bay to Breakers race takes place.

Taiwan recognized the failings in its existing pension systems early. A new scheme was launched in July. It is already accumulating funds rapidly and the effects on Taiwan’s domestic capital markets are likely to be dramatic. There will also be numerous opportunities for global asset managers. Chris Leahy reports.

Quote from Brian Shapiro, president of management and technology consulting firm Carbon360, in regards to the impending registration deadline imposed by the SEC.

Equal opportunities mean that the City of London is no longer just a boozy boys’ club – and rightly so. But plying punters with alcohol and beautiful women is still a great way to promote your product, even in these politically correct days. Just ask Threadneedle Investments.

Hybrid corporate bonds might be the new hot product of the Eurobond market but originators’ hopes for a deluge of new issues have not been fulfilled.

Three monoline insurers were used to credit wrap Scotia Gas Networks’ £2.22 billion ($3.9 billion) bond sale via sole arranger Barclays Capital, and lead managers Citibank, RBS and DrKW in October. This deal refinanced acquisition loans extended for the purchase of the Scotland Gas Networks and Southern Gas Networks from National Grid Transco in June (five out of nine networks were also sold). Although investors are hungry for stable investment-grade credit (BBB in this case), the lack of financial history – a requirement for an exchange listing – meant that arranger Barclays was required to bring in the monolines – Ambac, FSA and XL Capital. The structure was sliced into 11 tranches and sold to a wide variety of investors (euro and sterling, fixed, floating and index linked). SGN is owned by Scottish and Southern Energy (50%), Ontario Teachers (25%) and Borealis Infrastructure (25%).