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Chemical sector's growing uncompetitiveness a problem when it comes to attracting investment in the capital markets
When staff complain, they deserve a fair hearing, not a wall of silence
Benin reaped the rewards of its sukuk debut last week, and will do so for years to come
Little green men could be closer than they appear
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It is a stock phrase among bankers that no single deal can reopen the Russian loan market. One or two swallows would not make a summer. But Uralkali’s return with a transaction this week must raise the hopes of the country’s other borrowers.
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Financial markets had a good laugh when the ECB press conference was interrupted by protester Josephine Witt dumping confetti on Mario Draghi. This turned to puzzlement when she released what appeared to be a poem, describing herself as a butterfly. But she has a point.
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The European Financial Stability Facility may not have to print oversubscribed benchmarks just to show that the eurozone isn’t falling apart any more, but it still has to step up on occasion.
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Kaisa Group Holdings became the first Chinese property company to default on its offshore debt when it announced on Monday that it had failed to pay $51.6m of coupons on two of its outstanding dollar bonds. The news barely made an impact on secondary prices, as the default had been well flagged, but markets should not relax yet. Kaisa may not be an isolated case.
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There are plenty of reasons to commend German legislators’ attempts to subordinate senior debt to other operating liabilities, but other lawmakers shouldn’t rush to follow their example.
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Goldman Sachs reported quarterly results last week that were, by any measure, stellar. But some of the numbers look a little bit too special.