The appointment of a US academic to head the world Bank instead of Nigeria's Ngozi Okonjo-Iweala shows how out of touch the institution is.
Latest articles from US
Barclays looks to make the most of debt dominance
Barclays built a multi-asset execution platform out of the Lehman acquisition, and the debt specialist in the bank’s two-man management team for global finance in the EMEA region is relishing the opportunity to deploy that platform if merger and acquisition activity picks up.
Shedding light on shadow banking
The rise of non-bank intermediaries in Europe is an opportunity, not a threat
Foreign exchange still in everyone’s sights
Higher volumes than before the financial crisis and a growing number of heavyweight currencies are attracting investment banks, but the global foreign exchange pie may not be large enough for everyone to have a slice.
Over-regulation threatens to capsize US financial sector
The regulations implementing the Dodd-Frank Act, which was signed into US law in 2010 in response to the G-20's global financial regulatory reform agenda, are being written, and banks do not like what they see.
The repo market is vital, not villainous
The misuse of the repo market by Lehman Brothers and MF Global should not prompt hasty regulation proposals, because the vast majority of repo activity is entirely transparent and straightforward.
Global banks go back to basics
Investors appear to have lost confidence in diversified cross-border banking models, forcing banks to decide what they do best.
Thirst for Foster's boosts SABMiller deal
SABMiller's need to finance its $12.3bn takeover of Foster's saw it issue a $7bn multi-tranche Yankee. The result defied even the most optimistic of expectations, with high demand seeing the brewer come close to refinancing its bridging loan of $8bn in one fell swoop.
Politics can still trump prudence
Regulators are making much of macroprudential tools to prevent future bubbles. But regulatory capture remains an obvious risk.
Fee criticism brings costs quandary for US retail banks
With traditional revenue streams taking a hit as a result of new regulations, retail banks in the US face a predicament. Should they risk losing customers by increasing their fees to cover costs, or is there another strategy that will appease shareholders and customers alike?
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