Free content
-
The London listing review, out this week, has been hailed as a vital chance for the City to straighten its slipping crown as Europe’s top financial centre.
-
Some banks struggle to communicate clearly with their employees about the boundaries of sexual misconduct. But using diagrams is probably a bad idea.
-
Pablo de Ramón-Laca is director general of the treasury and financial policy at Spain's Ministry of Economic Affairs and Digital Transformation. That places him in charge of the world's ninth largest sovereign debt stock, according to S&P data, for a country pummelled by the Covid-19 pandemic. Spain has the second highest number of cases in the EU and the seventh highest in the world. But even that is not the full story of the pandemic's impact.
-
Europe’s syndicated loan market is demanding more of borrowers seeking sustainability-linked financing. Recent history shows the bond market lags the loan market on sustainability-linked financing innovation, suggesting investors would do well to pay attention to what is happening in the lending market.
-
The UK’s plan to launch the world’s first sovereign green bonds for retail investors is a welcome addition to the suite of sustainable fixed income products. It might be costly for the Treasury compared to what it can raise in the Gilt market but there are plenty of reasons why it is a good idea.
-
UK chancellor of the exchequer Rishi Sunak is preparing to unveil his latest budget on Wednesday. Leaks point to a package of tax hikes and spending cuts. But a repeat of the discredited model that the Conservative Party, of which he is a member, embraced to tackle the 2008-2009 financial crisis would miss a huge opportunity to finance growth just when borrowing costs are as low as they will ever be. Austerity will prove a false economy that drives investment elsewhere.
-
Concerns that London is losing ground to other financial centres within Europe, such as Amsterdam, which has surpassed London as Europe’s largest centre for equities trading, are overblown. The UK capital remains an attractive listing venue for high-growth firms and could become more so after a Treasury review of London’s listing regime is published this week. But the City should not abandon the core principles on which its reputation has been built just to claw back a short-term loss of business.
-
Chinese companies mulling new loans are taking inspiration from the recent thinly priced deals from technology giants Tencent Holdings and Baidu to push pricing down on their own transactions. This is a risky proposition.
-
A bout of volatility in US Treasury rates has slowed down primary bond flow in Asia and forced borrowers to pay up for their deals. While the turbulence has kept issuers at bay, it will offer a much-needed reset for the region’s bond market.
-
Two UK institutions caught Notebook's eye this week. One, NatWest Markets, has promoted a corporate debt banker and is on a path to sustained growth. The other, HSBC, is looking to Asia and the Middle East for expansion as one of the longest serving bankers in the SSA market prepares to leave the firm.
-
In this round-up, factory and services activity growth slows down in China, the securities regulator tweaks rules on exchange market corporate bond issuance, and the New York bourse moves ahead with delisting Chinese oil giant Cnooc on alleged military ties.
-
In this round-up, the State Council calls for more efforts in the development of green finance in China, regulators plan to kick off southbound trading under Bond Connect by the end of 2021, and large state-owned Chinese banks unveil the latest reshuffle in top leadership.