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CAPITAL MARKETS

Breaking views: Deutsche revamp falls short of strategy

Josef Ackermann is giving Deutsche Bank a spring clean. He has streamlined the board and reaffirmed an ambitious return on equity target in the face of mounting doubt about its feasibility. He is preparing the bank he leads for hefty restructuring and job cuts. That might be what it needs but is not in itself a strategy.

Christopher Hughes, October 01, 2004

Opinion

Japan takes a singular path to recovery

Japan got through deflation in its own sweet way and its recovery is also idiosyncratic. In the long run the yen will slide but for now conditions will favour foreign investors, holding up the currency.

David Roche, October 01, 2004

Global financing 2004: Capital raising and Risk management poll results

October 01, 2004

Banks rush to cash in on European high yield corporates

With credit analysts predicting that overall levels of investment-grade corporate issuance in Europe will end the year even lower than they had previously expected, banks are turning their attention to the more lucrative and active European high-yield market.

Kathryn Tully, October 01, 2004

CAPITAL MARKETS

Capital raising poll 2004: Lead banks sit pretty atop volatile market

It has been a stop-start year in the international debt capital markets, with banks themselves the latest group of issuers to take advantage of investors' search for yield by raising low-cost funds. Banks' capital markets desks are struggling to sell corporates on the joys of leverage.

David Skalinder, October 01, 2004

CAPITAL MARKETS

Risk management poll 2004: Complexity-averse clients still need risk management

As this year's Euromoney poll indicates, the banks that best satisfy their clients' risk management needs are the ones that have succeeded in integrating the function into the teams that offer capital raising products.

David Skalinder, October 01, 2004

BANKING

Corporate Finance magazine October 2004

October 01, 2004

Amex bulks up on smaller caps

Without much fanfare, the American Stock Exchange has achieved remarkable success over the past two years in attracting new listings, especially from foreign issuers.

Peter Koh, October 01, 2004

CAPITAL MARKETS

Making the most of surplus cash

Automation of short-term investment is at the cutting edge of cash management, but deciding how to take advantage of this is not easy. Banks are making an effort to rationalize the routines involved.

Denise Bedell, October 01, 2004

CAPITAL MARKETS

Serbia returns to the capital markets

After years of negotiations, Serbia has signed a deal with London Club creditors to restructure about $2.8 billion in debt. The deal paves the way for the sovereign's return to the capital markets later this year. But how will Serbia be received there, and who did the deal favour?

Julian Evans, October 01, 2004

UVa goes for straight A investments

The University of Virginia's endowment fund has put itself at the cutting edge of investment from university funds, wringing out high returns by inspired market timing and bold allocations to alternative asset classes. But can it keep working the magic, especially as it is looking for new leadership?

Julie Dalla-Costa, October 01, 2004

Tiered covenants help Land Securities debt exchange

Property company mixes secured and unsecured debt technology to preserve operational flexibility after its refinancing.

Mark Brown, October 01, 2004

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