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  • Taking the advice of Benjamin Franklin that "in this world nothing can be said to be certain, except death and taxes" CIBC has latched on to a new source of stable cashflow - funeral services.
  • Paribas
  • Investment banks are struggling to reinvent themselves amid dire markets conditions.
  • Martin Sass celebrates his thirtieth year in the distressed-debt investing business this year. He is in no doubt that business prospects are the best he's ever seen.
  • Bank of America CEO Ken Lewis is aiming for a goal that no-one has yet achieved. He wants to be the first chief executive of a commercial bank to build a successful, sizeable and sustainable US investment-banking franchise. Plenty have tried - some are still trying - but whether domestic players or European banks they have in the end all had to make one of three choices: to buy, sell, or give up.
  • It has long been the preserve of the literati and the chattering classes who might normally look to raise art high above wealth in importance.
  • All the indications are that Singapore is losing economic ground to immediate regional neighbours and – a bigger, more distant threat – Hong Kong and mainland China to the north. The financial authorities and some investment bankers deny that there is a problem, or at least one that can’t be solved, but ideas for a change of direction are thin on the ground.
  • There should be cost advantages to using a pan-European equities exchange such as Virt-x. However, some potential users say complexity outweighs savings and much of Virt-x’s market share is Swiss stocks.
  • The incumbent governor of the Bank of Thailand has clearly taken the experience of his two immediate predecessors to heart. Troubled by one’s profligacy with the kingdom’s foreign currency reserves he would like his own powers curbed. However, he may also be concerned about the other’s dismissal after a dispute with the prime minister about interest rates and is keen to assert the independence of the central bank
  • In last month's column, I wrote about the revolution in Korea's economic model, moving from a high savings, high investment, export-led economy to a more mature, consumer-led, market economy. That structural change is also visible in Taiwan but with some important differences.