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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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The Netherlands is about to pass an act inspired by US bankruptcy rules or English schemes of arrangement, updating an insolvency code that has proved ineffective for dealing with companies with secured debt — and has seen companies like Nyrstar redomicile to the UK as part of their restructurings. -
West China Cement, a Hong Kong-listed cement maker, has returned to the loan market after 11 years, seeking a $150m deal.
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Vietnamese property developer Novaland Investment Joint Stock Co is making its loan market debut with a $250m facility.
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Seven out of eight big companies with heavy carbon emissions are still behaving in a way that will lead to disastrous climate change, according to a report on Wednesday. The finding is not surprising, but underlines the reality that the growth of responsible investing has done far too little to make the economy sustainable.
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Language to prevent ‘net short’ debt activist investors manipulating distressed corporates to benefit CDS positions could prove ineffective in bond documentation, shutting down the changes almost as soon as they have been introduced in the market.
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Germany’s Infineon Technologies has wrapped up a bank financing package totaling around €9.5bn-equivalent for its acquisition of the US’ Cypress Semiconductor Corp, with an army of banks joining the semiconductor maker’s deal.
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