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The UK's dollar deal shows the way

The UK's $3 billion, five-year US dollar Eurobond issue showed what European sovereigns can learn from the UK and vice-versa when it comes to foreign-currency borrowing.

Mark Brown, August 01, 2003

Correction

In the awards for excellence in last month's Euromoney, we stated that Privredna Banka was the Croatian subsidiary of KBC. In fact Privredna is owned by Gruppo Intesa. Intesa owns in addition to Privredna Banka Zagreb (PBZ), Central-European International Bank (CIB) in Hungary and Vseobecna Uverova Banka (VUB) in Slovakia. Intesa has also opened a subsidiary in Moscow as part of its regional expansion.

August 01, 2003

Théodore makes his mark

It was billed as a love story. After a protracted period of will-they-won't-they, London Clearing House and Clearnet agreed to wed. But as with any powerful European marriage, the merger deal says a great deal about the proud parents - especially Euronext, which controls Clearnet. Has Euronext CEO Jean-François Théodore made himself the most influential man in European securities trading?

Katie Astbury, August 01, 2003

A minefield for the well informed

The US Supreme Court made a lot of headlines in its latest session, from affirming a right to gay sex to allowing affirmative action. But of much more importance for the world of international finance was an almost-unnoticed ruling handed down at the end of April that could change the way that bond contracts have to be written.

Felix Salmon, August 01, 2003

Who's calling the treasuries tune?

It has been a rough roller-coaster ride for the US treasuries market over the past three months, and there are sure to be financial institutions hurting as a result.

August 01, 2003

BANKING

Weill takes hands-on retirement

Afer three years of speculation about his departure, Citigroup's CEO Sandy Weil has finally named a successor. But the story doesn't end there.

Antony Currie, August 01, 2003

Botín serenely contemplates 150-year sentence

You don't become chairman of Santander Central Hispano, Spain's largest bank, and the undisputed don of Spanish finance, if you're easily flustered. But Emilio Botín is something else. He was quizzed recently by Spanish journalists about how he felt about the 150-year jail sentence he's facing for alleged tax fraud. Serene, he told them.

Ben Sills, August 01, 2003

How the big ones got away

Emerging from bankruptcy protection, some of the biggest corporate failures ever have struggled through the net and are set to take centre stage again. With telecoms consolidation looming, bankers hope to earn big fees from them. But smaller, more prudent telecoms that avoided disaster may get lost in the wake.

Kathryn Brayshay, August 01, 2003

Business travel poll 2003: Flight to service

Trends in travel are pushing quality service and cost-efficient processes to the forefront.

Ray Hopkins, August 01, 2003

Shipping catches a rising tide

Shipping is returning to the capital markets, six years after many borrowers defaulted. But are the top investment banks, which have the most direct access to high-yield investors, necessarily best equipped to lead new issues?

Mark Brown, August 01, 2003

Regulatory haze obscures UK Pfandbrief issues

HBOS has become the first UK issuer to sell covered bonds in Europe, in a deal that looks set to create a new market. Will that promise be undone by regulators unsure of the law on risk weightings for such deals? Michael Evans reports

Michael Evans, August 01, 2003

Murdoch's channel comes under scrutiny

In the high-profile world of satellite broadcast television, foreign ownership and control are usually contentious issues. In India, earlier this year, foreign satellite news broadcasters were given three months to meet a new rule that caps foreign equity investment at 26% for TV news channels that broadcast to the country from home turf.

Kala Rao, August 01, 2003

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