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CAPITAL MARKETS

Breakingviews: Mack's knife cuts too deep

When John Mack (pictured right) was brought in as CEO to turn around Credit Suisse First Boston more than three years ago, he offered a simple diagnosis. "We don't have a revenue problem, we have a cost problem," he said. That might have been so then. But in trying to cut costs, has the former Morgan Stanley CEO created a revenue problem that wasn't there before?

Christopher Hughes, February 01, 2004

CAPITAL MARKETS

Lawyers claim unregistered issues not inherently insecure

Parmalat's collapse is leading regulators to question how a multi-billion dollar disaster was not foreseen and averted.

Ben Maiden, February 01, 2004

CAPITAL MARKETS

How Culs might ease the pain

Using convertible unsecured loan stock (Culs) along with cash could help different types of deals break the impasse between existing shareholders and bidders.

Peter Koh, February 01, 2004

CAPITAL MARKETS

Dutch pensions set to force bonds shift

The yield curve on European government bonds is set to flatten or even invert from March this year as new regulations force the region's second-largest group of pension funds to change the profile of their assets.

Katie Martin, February 01, 2004

Japan fund turns in fine performance

Gartmore's Japanese long/short equity AlphaGen fund was one of the firm's top performers last year despite market conditions that hampered the strategy. The US dollar and yen classes returned 17.1% and 15.9% for the full year 2003.

Julie Dalla-Costa, February 01, 2004

CAPITAL MARKETS

Mysterious bidder drives YKB's stock

A $5 billion loan is not to be dismissed lightly in a country where foreign investment is running at just $1 billion a year. But the mystery benefactor is a company whose name rings no bells and whose principal investors have yet to be identified. It could only happen in Turkey. Metin Munir reports.

Metin Munir, February 01, 2004

Aussie funds pool to hit $1.32 trillion

Australia's mutual fund industry is set for a bonanza over the next decade, with assets under management forecast to reach a total of US$1.32 trillion by 2015.

Julie Dalla-Costa, February 01, 2004

Opinion

Monkey magic points to rally

The Chinese year of the monkey looks auspicious, says CLSA's self-styled wicked sorcerer of the east, Kenny Lau.

Peter Koh, February 01, 2004

CAPITAL MARKETS

Early releases devalue lock-ups

Investment bankers predict a healthy flow of equity capital markets business this year as stock markets continue the run-up that began last spring. If the secondary markets' tone remains strong, investors may be tempted to buy new issues. But they should remain suspicious over whose interests the investment banks are serving: theirs as investors, or those of issuers' of stock who grant mandates and fees to the banks.

February 01, 2004

Deals of the year: North America

Western Europe | Emerging Europe | Asia | Latin America

February 01, 2004

Opinion

ABN gives Deutsche run for its money

What a coup it could have been for ABN Amro. The flying Dutchman oh so nearly snaffled the top spot on IFR's charity tombstone away from Deutsche Bank just as the Germans were sitting back to admire their victory.

Julian Marshall, February 01, 2004

Cyprus aims for respectability

Since 1974, political stability in Cyprus has been tarnished by continued struggles between Turkish and Greek interests. In turn, its progression as a financial centre has been halted by the perception of it as a tax haven for money of questionable origin. But in the past few years, Cyprus has had good reason to celebrate a marked departure from these images, particularly with its accession to the EU due in May.

Deborah Kimbell, February 01, 2004

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