Latest articles from Capital Mkts

Auto earnings shift up a gear

May 3, 2004

First quarter results have brought good news for General Motors and Ford but an interest rate rise in the US could put a different spin on these companies’ prospects.

The secret world of hedge funds and credit derivatives

May 3, 2004

Hedge funds may be cagey about their investment strategies but their use of credit derivatives is doing the market no end of good. Natasha de Teran explains why a lack of transparency is the least of bankers’ concerns.

Train PAs to curb artistic tendencies

May 3, 2004

“She was the Picasso of con men. She was brilliant.” That is how Scott Mead, the former Goldman Sachs dealmaker described Joyti De-Laurey, the secretary who stole £4.4m from his bank account and those of two other Goldman bankers. She was found guilty by a London court in April.

GDP measurement bugs Bulgaria

May 3, 2004

Measuring GDP is an extremely complex and error-prone process. Investment pay-outs on bonds should be based on criteria that are definitive and easy to measure. For that reason, linking payments to the growth in a country’s GDP could never be anything other than challenging even though the sense of the idea (you pay more when you earn more) is indisputable.

Custodians could catch China outflow

May 3, 2004

The big issue in China is not inward investment but outward investment. Even as the queue for QFII (Qualified Foreign Institutional Investors) status lengthens (allowing access to China’s renminbi denominated A shares market, the bulk of stock market capitalisation), the talk is of when China’s own insurance and social security funds may be allowed to venture overseas freely and openly.

Dutch issuers strive to satisfy investors

May 3, 2004

Investor appetite for Dutch paper is strong but getting a slice of action can be tricky with the low level of offerings. Michael Marray reports.

Brian Lawson

April 5, 2004

Following a critical reorganisation, Brian Lawson, chief operating officer fixed income, Europe, at Nomura, says the business is once again ready to recapture its pre-1998 position. He talked to Geraldine Lambe about the focus of building intelligent, long-term businesses.

Foreign banks join Russia’s capital markets party

April 5, 2004

As the economic good times roll in Russia, foreign banks are either bolstering their current operations or looking for a way in, says Geraldine Lambe.

How having a history

April 5, 2004

In last month’s HBOS securitisation, Citigroup proved that a long-term relationship is still the rock on which deal-making is built. Mark Pelham talks to Citi’s team about the largest retail mortgage-backed securities deal ever seen.

Volkswagen predicts ‘lousy’ first quarter

April 5, 2004

In the wake of a tough market and a poor reception for its new-look Golf, German carmaker Volkswagen has revealed a downbeat outlook for 2004 and announced plans to cut expenditure by 10%. Yet, it seems, analysts are still sceptical. Geraldine Lambe reports.

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