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  • The European high-yield bond market has enjoyed stellar growth since 2009. Its value has risen from EUR50 billion to EUR300 billion*. We believe it has the potential to expand by half as much again to EUR450 billion in the next five years, writes Kevin Connell, Managing Director High Yield Markets, Merijn Nederveen, Managing Director, Corporate Advisory and Usman Qureshi, Corporate Advisory at RBS.
  • The new flexible liquidity rules will prove key to realizing Bank of England governor Mark Carney’s bold ambition to further entrench London’s status as a global financial hub while addressing the challenge of rising interest rates and a collateral shortage.
  • The Chinese government says it wants to transform its asset management companies – established to take on growing bad debts in the banking system – into commercially driven enterprises. In reality, a lack of transparency on portfolio loans means analysts are none the wiser as to the scale of the problem and the resolution process for legacy loans.
  • Autumn is a wistful season: the balmy summer days redolent of hope are behind us. We wince at the prospect of grey winter and another year drawing to its close. The autumn is often a tricky and tumultuous period for markets. Some of us still remember the 1987 equity market crash. This occurred on October 19 when the Dow lost over 500 points and 22% of its value evaporated.
  • And talking of Goldman, I have to admit to being surprised at how mediocre its third-quarter earnings were. In mid-October, the firm announced that revenue in fixed income, currency and commodities fell some 45% to $1.25 billion. This was a bigger drop than that experienced by rival flow houses. Goldman’s third-quarter net income was actually flat at $1.4 billion because the firm cut remuneration costs. Revenues fell to $6.7 billion from $8.4 billion a year earlier.
  • October also saw a changing of the guard at Buckingham Palace. By which I mean, after more than 30 years, Paul Tucker, deputy governor of the Bank of England, left the Bank for a teaching post at Harvard. Tucker, who was widely viewed as the likely successor to the dour Lord King, lost out to Bank of Canada governor Mark Carney.
  • Is it time for bank CEOs to put their IPO money where their mouth is?
  • Euromoney’s business cards open many doors in the financial community. But we never realized the full extent of their powers until they nearly shut down one of the world’s busiest airport terminals.
  • "You cannot call that many people on the streets for just one park"
  • "The price was absolutely ludicrous and people were openly asking if the old man had finally lost it"
  • As London positions itself as a hub for Islamic finance on the occasion of the ninth World Economic Islamic Forum, Badlisyah Abdul Ghani, CIMB Islamic CEO, predicts UK corporates are already primed to enter the sukuk market.
  • The UK Treasury’s courtship of Chinese banks highlights, in part, London’s relatively flexible regulatory regime for foreign banks – in contrast to the Fed. It also opens up a broader debate about subsidiarization and global banking models, more generally, amid regulatory turf wars.