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PCAOB calls in outstanding dues

William McDonough, chairman of The Public Company Accounting Oversight Board, told reporters at The Economic Club of Washington’s Winter Luncheon Meeting on Wednesday that hundreds of public companies still owe the Board dues. "Those companies that have not paid cannot get a clean opinion from their auditor," says McDonough.

December 04, 2003

US corporates take advantage of European disharmony

Europe’s corporates are lagging behind their US counterparts when it comes to competing in the global marketplace due to a lack of political and economic co-operation, according to a report issued by KPMG.

December 03, 2003

S&P wary over global recovery

The good news, according to S&Ps chief economist David Wyss, is that the global economic recession wasn’t really much of a recession at all. The bad news, however, is that the global recovery isn’t really much to be get excited about, either.

December 02, 2003

BANKING

Corporate Finance magazine December 2003

December 01, 2003

CAPITAL MARKETS

EU in a twist about internalization

In the name of transparency, liquidity and, paradoxically, fair pricing for investors, the current draft of the EU's revised Investment Services Directive threatens to undermine investment banks' internalized securities trading. Ian Mackenzie reports.

Ian Mackenzie, December 01, 2003

Opinion

A cut-throat business

The culture of corporate bonding has taken hold in the UK. Off-sites, golf tournaments, tank-driving weekends, group hugs - they're all about learning to love your co-workers, and in doing so make your office a more harmonious, and profitable, place.

Mark Brown, December 01, 2003

Growth keeps investors on board

Foreign investors with their eyes fixed on Russia's continued powerful economic growth are shrugging off the recent arrest of Mikhail Khodorkovsky. The CEO of oil giant Yukos and Russia's richest man, he was pulled in on October 25 by Kalashnikov-toting officers of the FSB (federal securities services). This might have briefly unsettled the stock market, but foreign companies selling soap and coffee to increasingly affluent Russian consumers believe their businesses will be unaffected.

Ben Aris, December 01, 2003

Permal launches Shariah-compliant hedge fund

Permal, part of French group Worms & Cie, announced last month that it had launched its first Islamic hedge fund.

Peter Koh, December 01, 2003

Struggling for dominance

New financial legislation and infrastructure in Dubai and Saudi Arabia give them the opportunity to challenge Bahrain's position as the Middle East's prime financial centre. Nigel Dudley reports.

Nigel Dudley, December 01, 2003

Andrew Garner

Chairman and founder, Garner International

December 01, 2003

Full speed ahead for Basle II - like it or not

Since the Madrid meeting of the Basle Committee on Banking Supervision in October, a new realization has dawned on the senior managements of banks around Europe and the rest of the world. The Basle II accord will go ahead - having looked in doubt at various times this year - and the time is fast approaching when banks must move beyond arguments over complexity, pro-cyclicality and inappropriate incentives. They must start implementation.

December 01, 2003

Opinion

Wilko factor puts boot into Macquarie

Most bankers would have said the stakes were high enough at the Rugby World Cup final between bitter rivals Australia and England in Sydney. But that was not the case with Aussie investment bank Macquarie. It upped the ante by publishing research confidently predicting a home victory, entitled "Rugby World Cup - quant style - Why the Wallabies will win".

Chris Leahy, December 01, 2003

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