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A junior banker respects their MD, but cannot live with his disorganisation. Can things ever improve?
Solutions exist but political will is necessary
It will take years and huge amounts of money to get Venezuela in a state to restructure its debt
Oil reforms are needed for debt repayment to restart, but will be difficult to accomplish
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Banks may be using their lending relationships with companies to press them into granting bond mandates, the International Organisation of Securities Commissions has warned. This follows the UK Financial Conduct Authority's remarks about similar pressure for equity mandates in April. -
The State Administration for Market Regulation (Samr) has concluded a five month investigation into Luckin Coffee over unfair competition, fining the company and nearly four dozen others that were also involved a total of Rmb61m ($9m).
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The release of thousands of leaked documents over the weekend that implicated major banks in money laundering and sanctions violations has sent a shudder through capital markets. Lenders say they will likely increase due diligence to make sure they are not exposed to further revelations.
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The adverse market refinance fee came under fire in a hearing this week, during which House policy makers characterised it as last-minute and poorly explained. Federal Housing Finance Agency (FHFA) Director Mark Calabria emphasized that the fee is necessary, and the only alternative would be to receive funding from Congress before the December implementation date.
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Bank and leasing firm Grenke has seen its share price plummet by more than half over the past two days after becoming the latest target of Viceroy Research, the activist short seller known for its campaigns against Wirecard and Steinhoff. German regulator Bafin has told GlobalCapital it is investigating the situation.
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This week in Keeping Tabs: the state of EU capital markets and whether good government matters, a profile of Mairead McGuinness, and Adam Tooze on central banks.
