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Editor’s Letter : Proceed With Caution
Seasoned observers were predicting earlier this year that fallout from the subprime crisis in the US would trigger an abrupt end to the private equity party...
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Features : Buyout Or Sellout?
FOCUS / CANADA FOR SALE The buyout boom of Canadian companies is stirring intense controversy and throwing a harsh spotlight on the role of corporate executives. As the selloff of Canada’s biggest and best-known companies reaches record levels, ...
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Milestones : $100 Billion Bank Fund Buys Time For Treasury
UNITED STATES Hank Paulson: Eager for Uncle Sam to avoid bailing out major American banks. The United States Treasury in effect told the big American banks last month to clean up their own mess and not to look ...
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Milestones : Challenges Grow In Run-Up To New Payment Rules
EUROPE Europe's payments landscape is set to change dramatically with market reforms. Banks and companies in other parts of the world are watching with interest as the deadline for radical transformation of the UK and Europe’s cross-border payments ...
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Newsmakers : Offshoring Industry Faces New Opponent: Its Clients
UNITED KINGDOM/UNITED STATES Divett: Offshoring IT involves hidden costs. Offshoring information technology services is an emotive subject that incites mixed responses from most companies. Although Wall Street financial firms were among the early adopters of outsourcing, sending their ...
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Newsmakers : US Shouldn’t Take Its Aaa Rating For Granted
UNITED STATES Nikola Swann: External imbalances put the dollar at risk of ratings downgrade. Standard & Poor’s credit analyst Nikola Swann says the dollar’s preeminent role in the world cannot be taken for granted. The greenback is still ...
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Milestones : Sepa Rollout Faces More Hurdles
EUROPE Desmares: Corporates cool on SEPA. Businesses and public sector organizations operating in Europe have until 2010 to abandon existing national payment instruments and adopt new pan-European credit transfer and direct debits. At least that is the ...
Emerging & Frontier Markets
Newsmakers : New Leader Details Economic Revival Strategy
JAMAICA Golding: Ambitious economic plans. Newly sworn-in Jamaican prime minister Bruce Golding is seeking ways to kick-start the island’s sluggish economy and tackle mounting social pressures over escalating unemployment and crime rates (his own forecasts predict 1,300 murders ...
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Newsmakers : The Maestro Strikes A Chord
UNITED STATES Alan Greenspan: Introducing his own turbulence to the markets. Talk about good timing. Alan Greenspan’s memoirs, entitled The Age of Turbulence, topped the bestseller list at Amazon.com last month as volatility continued to rattle global financial ...
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Newsmakers : Trichet Urges Better Risk Control
EUROPE Trichet: Questions investors' reliance on credit ratings. The subprime mortgage crisis in the US has forced the president of the European Central Bank (ECB) to speak out about the new sources of risk being created by the ...
Emerging & Frontier Markets
Newsmakers : Tycoon Justice: Hyundai Chairman “Too Valuable” To Idle In Jail
SOUTH KOREA Chung: Convicted but free to go. Chung Mong-koo, chairman of Hyundai Motor, is too important to South Korea’s economy to go to jail, despite being convicted of embezzlement and breach of trust, an appeals court ruled ...
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Editor’s Letter : Business As Usual
As Global Finance was going to press this month, the world's financial markets were in a terrible state...