Global news and insight for corporate financial professionals
The Dodd-Frank Wall Street Reform and Consumer Protection Act celebrated its third birthday in July, and US regulators and their European counterparts were as busy as ever - setting higher capital requirements for banks and tackling the complex matter of ...
As night follows day, bankers warn that the macroeconomic sky will fall as a result of new rules that would require them to hold more capital. The bank industry's standard argument , articulated most vociferously—if not convincingly—by JPMorgan Chase chairman ...
MILESTONES: FINLAND By Paula L. Green Even though the financial fortunes of mobile-phone manufacturer Nokia continue to weaken, Finland is not letting go of its reputation for technological innovation. The Nordic country seems intent on sustaining the type ...
MILESTONES: US By Valentina Pasquali In June, US regulators took yet another step in the slow but steady implementation of the Wall Street Reform and Consumer Protection Act of 2010, also known as Dodd-Frank. AIG to face ...
The quantitative easing launched in recent years by the central banks of the United States, the eurozone and Japan is entering a new phase...
NEWSMAKERS: LATVIA By Gilly Wright Praised by both the EU and the IMF for passing painful austerity measures, Latvian prime minister Valdis Dombrovskis will soon be rewarded by seeing his country become the 18th member of the eurozone. ...
NEWSMAKERS: US By Luca Ventura When AG Lafley handpicked Robert McDonald as his successor to the top post at Procter & Gamble in 2009, he could not have predicted that just four years later he would be called ...
DESPERATE TO DIVERSIFY By Kim Iskyan The countries of central Asia are working hard to become more than one-trick ponies, as each struggles in its own way to reduce economic reliance on a single growth driver. The five ...
NEWSMAKERS: ARGENTINA By Paula L. Green Argentine president Cristina Fernández de Kirchner isn’t afraid to tangle with the British, global bondholders, her own judicial system or even the International Monetary Fund. Fernández de Kirchner has until September to ...
MODEL FOR GROWTH? By Vanessa Drucker The Troika’s “darling of reform” is in its third year of recession. Citizens—and policy-makers—want to see the promised economic rebound. Portugal and the European Union depend on one another. On the one ...
A GLOBAL CONNECTION SWIFT’s annual Sibos conference is just around the corner, and this year attendees will gather in Dubai. With Middle Eastern companies following the trend now seen in many emerging markets and increasing the sophistication of their ...
MILESTONES: BANGLADESH By Udayan Gupta Even as Bangladesh tries to extricate itself from the Rana Plaza building collapse, the Dhaka disaster that killed more than 1,100 garment workers, one private equity fund is trying to infuse new capital into ...
SUNSET, OR A NEW SUNRISE? By Michael Shari Brazil faces a monumental challenge in meeting the expectations of its citizens, corporations and global investors over the next several years, as the nation invests heavily to host the World Cup and ...
NEWSMAKERS: ECUADOR By Gordon Platt Five days after Ecuador’s left-leaning president Rafael Correa was inaugurated for a third and final four-year term, the country’s ambassador to the US, Nathalie Cely, addressed a group of business leaders and investors at ...
UNINTENDED CONSEQUENCES By Udayan Gupta The world’s central banks are on a desperate mission to stave off deflation. But even if their short-term fixes work, the long-term outcomes may have unplanned results. Central banks are in an ...
NEWSMAKERS: ITALY By Gilly Wright “Italy is dying from austerity alone. Growth policies cannot wait,” announced Italy’s new premier, Enrico Letta, in his first keynote speech. Can Letta pass reforms with weak coalition partners? Saying that priorities would ...
WAITING FOR THE RENAISSANCE By Gordon Platt Egypt’s elections promised much in terms of building a modern and democratic state. But the realities of governing for the Muslim Brotherhood are proving more difficult than initially thought—and some economic ...
MILESTONES: LUXEMBOURG By Forrest Jones Another tax haven is set to unveil its operations, this time in Western Europe. Luxembourg recently agreed to share confidential banking details belonging to multinational companies with its neighbors. The move, which will help ...
NEWSMAKERS: SPAIN By Luca Ventura Appointed as chief executive of Santander in 2002, Alfredo Sáenz took less than a decade to turn the Spanish domestic lender into a multinational giant with operations in 40 countries. New CEO Marín kept a ...
NEWSMAKERS: CANADA By Joel Kranc Few people were completely surprised when Mark Carney, the head of the Bank of Canada, broke the news earlier this year that he was leaving his post to head up the Bank of England. ...