Search results for

AbdulMagid Breish, the chairman and acting CEO of the LIA – the man who launched litigation against some of the biggest names in global banking – reveals the sovereign wealth fund’s plans for the future and the battle to move on from Gaddafi-era investments.

Last month Goldman Sachs filed papers in the UK courts seeking to have a case for mis-selling brought by the Libyan Investment Authority summarily dismissed. This is not the first attempt by the bank to end the problems caused by its engagement with Gaddafi-era Libya. In a 2010 memo, Goldman proposed a complex structure that would have involved a $52 million payment in exchange for unwinding trades that had cost the Libyan fund almost $1.3 billion. While the US investigates, LIA chairman Abdulmagid Breish is making plans for the sovereign wealth fund’s future – and he wants his country’s money back.

Pre-tax income from Deutsche Bank’s global transaction banking (GTB) business grew 15% in the first quarter compared with a year earlier, despite being hit by “intense margin and competitive pressure”.

Algomi is growing fast by selling data-capture systems to banks that help match off-setting customer orders in the illiquid bond markets.

Ratings pressure continues to hurt banks; Central bank pushes for culture change

The battle between the west and Russia over Ukraine is intensifying amid a full-on financial war. Euromoney investigates the foreign-currency credit crunch for Russian borrowers.

Analysts pronounce an imminent end to the Swiss franc bull run, citing new safe-haven trades and the global economic recovery.

Improved risk scores by Euromoney Country Risk indicate the worst might be over for the debt-distressed eurozone sovereigns, but caution is the buzzword, as many countries are grappling with huge debt burdens, and with question marks still surrounding Greece.

Key players in the global foreign-exchange community are lobbying the European Commission to widen the definition of spot FX and free up companies from onerous reporting requirements, before a vital consultation on the subject closes for comments in a fortnight.

CaixaBank CEO reveals he is expecting a concerted expansion in the Spanish market amid shareholder pressure to deploy excess capital.

Companies are not only underestimating the cost of post-merger integration, with as much as 14% of total deal value on average being spent on the process, but in many cases using only ‘gifted amateurs’ to try to ensure its success.

Numericable and Altice attracted overwhelming demand for the largest-ever high-yield bond offering to fund the acquisition of French mobile phone operator SFR from Vivendi. Even more remarkable than the financing was the take-over battle that led to it. The availability to leveraged acquirers of such high volumes of funding at low spreads will energize the European M&A market.