North America
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Banking
US EX-IM BANK FACES AN UNCERTAIN FUTURE
UNITED STATES<br />
In its 2013 report to Congress, the Export-Import Bank of the United States says that its “overriding mission is to create and sustain American jobs by supporting US exports.” But that very mission is under threat, with House Financial Services Committee chairman Jeb Hensarling, among others, seeking to abolish the bank.
Capital Raising & Corporate Finance
WALGREENS DUMPS INVERSION AS OBAMA BERATES “DESERTERS”
MANAGEMENT | TAX PLANNING<br />
Gregory Wasson, president and CEO of Walgreen, says the company “concluded it was not in the best interest of shareholders to attempt to re-domicile outside the US” to cut its tax bill.
Banking
FORMER DERIVATIVES SUPERSTAR TAKES THE HELM AT AIG
UNITED STATES<br />
After steering American International Group (AIG) during the financial crisis and putting it back on a sounder footing, president and chief executive officer Robert Benmosche is handing the baton over to Peter Hancock.
Capital Raising & Corporate Finance
OTC MARKETS, NOT NYSE, TRADE MOST ADRS
FINANCE & CAPITAL | CAPITAL MARKETS: AMERICAN DEPOSITARY RECEIPTS
Banking
EUROPEAN STRESS TESTS MAY STILL BE TOO SOFT ON BANKS
Upcoming stress tests for Europe’s 124 largest banks will have more credibility than they had previously, but some analysts argue that banks may need far more capital than regulators demand to withstand a crisis. And any hoped-for international standardization in terms of stress testing is out the window as there is little comparability between the upcoming European and recently completed US bank tests.
Capital Raising & Corporate Finance
US: FIELDS’ FIRST TEST ON FORD’S BREAD AND BUTTER
NEWSMAKERS: UNITED STATES<br />
New Ford CEO Fields is about to be put to the test.<br />
Features
Despite U.S. Prodding, Renminbi Liberalization to Proceed at China’s Pace
During his trip to China in mid-May, US Treasury secretary Jacob Lew repeated a favorite Washington refrain: Authorities in Beijing should do more to allow the renminbi to trade freely against the dollar.
Awards
BEST BANKS 2014: NORTH AMERICA
The banks of North America as a group are fundamentally strong. Of 30 US banks that participated in the Federal Reserve’s second round of stress tests, 25 passed with flying colors, according to results released in March.
Capital Raising & Corporate Finance
ANNUAL SURVEY: WORLD’S BEST BANKS 2014
In our 21st annual survey, Global Finance identifies the best banks in 150 countries and eight regions. The winners are not always the biggest banks, but rather, the best—those with the qualities that corporations should look for when choosing a bank.
Awards
BEST U.S. REGIONAL BANKS: 2014
Since the global financial crisis, US regional banks have taken market share in corporate banking away from the national money-center banks, which have dialed back on risk to rebuild their balance sheets.
Economics, Policy & Regulation
CANADA: NEW FINANCE MINISTER HAS BIG SHOES TO FILL
When, on March 18, longtime Canadian Finance minister Jim Flaherty unexpectedly announced his resignation, few were perhaps more surprised than his soon-to-be successor, Joe Oliver, the 73-year-old minister of Natural Resources.