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Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
A slow destruction of misallocated investment is more likely than a sudden stop
Investors confident software fears are overblown
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Albaraka Turk Participation Bank and the Islamic Development Bank have signed a $40m Islamic financing facility to support small and medium enterprises in Turkey. -
Germany’s Bayer has agreed to sell its animal health business to US firm Elanco for $7.6bn in cash and equity. Analysts reckon this will be positive for Bayer's credit quality, after its litigation-shrouded Monsanto acquisition last year.
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Ed Welsh will join HSBC in November as global head of business services, although his work is expected to be heavily centred around the UK, as the bank ramps up efforts to gain market share among the country’s biggest listed firms.
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Macquarie’s Green Investment Group has secured debt financing to back its acquisition of a 40% stake in East Anglia One, in a deal that values the Iberdrola-owned wind farm at an enterprise value of £4.1bn.
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Highgate School in north London has closed a £60m US private placement, joining a clutch of private schools using the instrument for long term financing.
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China unveiled a new benchmark rate, the loan prime rate (LPR), for loans this week. While hailed as a groundbreaking step towards making its benchmark lending rate more market-driven, the mechanism for determining the LPR in fact grants the central bank more control over the country’s interest rates.
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