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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

Opinion

Which bubble is set to burst first?

Does the recent widening of government bond yields, especially in Japan, signal the bursting of the bond bubble? I think not. Both the equity and bond markets are bubbles and both will burst eventually. But equities are more likely to pop first.

David Roche, August 01, 2003

Who's who in the power struggle?

The Siloviki Who are they? Putin's old friends from the intelligence services, now in the FSB, defence ministry and presidential security service. They oppose neo-liberal policies, and want a strong, protectionist, authoritarian state. The liberals label them anti-capitalist, anti-democratic ex-KGB stooges. The Siloviki see themselves as patriots.

August 01, 2003

Property is thrift

With equity returns staying stubbornly low, pension funds have been forced to reconsider investing in property. What had become an unfashionable asset class in many major markets has turned out to be the best performer of the past decade.

Julie Dalla-Costa, August 01, 2003

The limits on US unilateralism

Zbigniew Brzezinski, Jimmy Carter's national security adviser when he was US president, spoke to Euromoney's Global Borrowers and Investors forum in June. In this edited version of his address, he analyzes the complexities of the Bush administration's fragmented foreign policy and the constraints on its freedom of action.

August 01, 2003

Taxman backtracks on carried interest

The UK's Inland Revenue has made what some view as an embarrassing climbdown on a tax change that could have forced leading private-equity players overseas.

Jo Hickey, August 01, 2003

Putin lets go of his free-market image

The Kremlin's sudden attack on oil company Yukos is a flashpoint in a war between two rival clans. One wants Russia to continue its integration into the global economy, the other doesn't. It is not certain which will win.

Julian Evans, August 01, 2003

Problem child Yell makes the big time

Issuer: Yell Group

Julie Dalla-Costa, 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

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

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

Demand for rupee options is set to blossom

Rupee currency options have started trading for the first time under new guidelines from the Reserve Bank of India. The move comes as part of a series of efforts to develop Indian derivatives markets.

Katie Astbury, August 01, 2003

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