Pre-migration untagged articles
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Equities are cheap and offer long-term value, while despite the worsening economic outlook, inflation remains a big threat for fixed income investors, says Erwin Heri, chairman of Swiss private bank Valartis, and chair of the investment committee of Publica, the Swiss government pension fund. Molly Guinness spoke to Heri about his investment philosophy.
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Investment bank JPMorgan Cazenove emerged as one of the winners from the wave of recapitalisations sweeping through UK businesses when it reported that profits from its UK operations had increased by 7% in 2008.
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Yesterday (Thursday) shares in Citi dipped below $1 for the first time, giving the bank a market value below $6bn — down from over $275bn in 2006. Meanwhile, the US government announced last Friday it is to take its stake in Citi to 36% by converting its preference shares.
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The iTraxx Crossover Index closed at a new record high of 1,144bp yesterday, but it is likely to continue to rise to reflect "doomsday" default risk, say credit specialists.
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Dexia is committed to maintaining its Pfandbrief issuance through Dexia Kommunalbank, it is understood, despite its planned retrenchment into core markets as a result of its problems.
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The European Commission has seized upon the recommendations of last week’s report by Jacques de Larosière on harmonisation of financial supervision and proposed an accelerated timetable.
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Dresdner Kleinwort bankers are preparing to sue Commerzbank, the bank’s new owner, over lost bonuses.
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The International Finance Facility for Immunisation Company (IFFIm) has launched the first UK retail-targeted bonds from a multilateral institution that are eligible for Individual Savings Account (ISA) treatment in the UK, opening up the issue to a broad swathe of the UK market.
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Even the all-mighty basketball kings need a loan every once in a while.
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--Kenneth Emery, director of corporate default research at Moody's Investors Service, on the prospect 300 companies could default in 2009 and an increased number of defaults means a decrease in recoveries.
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The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week. Data provided by Markit Group.
