MANAGEMENT | TAX PLANNING
Gregory Wasson, president and CEO of Walgreen, says the company “concluded it was not in the best interest of shareholders to attempt to re-domicile outside the US” to cut its tax bill.
MANAGEMENT | TAX PLANNING
In its 2013 report to Congress, the Export-Import Bank of the United States says that its “overriding mission is to create and sustain American jobs by supporting US exports.” But that very mission is under threat, with House Financial Services Committee chairman Jeb Hensarling, among others, seeking to abolish the bank.
In this first installment of a two-part series, Global Finance identifies the top online corporate and consumer banks by country and then by region, according to product or service category.
FINANCE & CAPITAL | CAPITAL MARKETS: AMERICAN DEPOSITARY RECEIPTS
Upcoming stress tests for Europe’s 124 largest banks will have more credibility than they had previously, but some analysts argue that banks may need far more capital than regulators demand to withstand a crisis. And any hoped-for international standardization in terms of stress testing is out the window as there is little comparability between the upcoming European and recently completed US bank tests.
NEWSMAKERS: UNITED STATES
New Ford CEO Fields is about to be put to the test.
The fight has just begun, as newly enacted Fed rules start to cramp long-accepted operating styles of global banks. The banks are weighing what to do about it—as are global policymakers.
When, on March 18, longtime Canadian Finance minister Jim Flaherty unexpectedly announced his resignation, few were perhaps more surprised than his soon-to-be successor, Joe Oliver, the 73-year-old minister of Natural Resources.
Mergers and acquisitions involving Russian companies, including Morgan Stanley’s planned sale of its global oil-trading unit to Rosneft, are threatened by Western sanctions on Moscow over the Ukraine crisis.
Since the global financial crisis, US regional banks have taken market share in corporate banking away from the national money-center banks, which have dialed back on risk to rebuild their balance sheets.
Corporate credit-rating upgrades in the first quarter of 2014 outnumbered downgrades in Europe, the Middle East and Africa for the first time since 2008, according to Moody’s Investors Service. The rating agency says positive credit trends in the EMEA region are likely to continue through 2014, despite potential negative events in Russia and Ukraine.
Despite a pause in February, when the number of share purchase authorizations declined by 32% over the same period a year ago, share buybacks are still very popular on Wall Street.
In our 21st annual survey, Global Finance identifies the best banks in 150 countries and eight regions. The winners are not always the biggest banks, but rather, the best—those with the qualities that corporations should look for when choosing a bank.
CORPORATE FINANCING NEWS By Gordon Platt Verizon Communications, which sold $49 billion of debt last September in the largest bond sale ever, has returned to the bond market repeatedly this year to take advantage of low interest rates ...
ANNUAL AWARDS: HIGH-OCTANE YEAR Global investment banks will face a tremendous challenge as they strive to continue running their underwriting businesses at the elevated levels they reached in 2013. Many of the largest banks on Wall Street reaped a windfall ...
CORPORATE FINANCING NEWS By Gordon Platt US companies announced $336 billion of mergers and acquisitions in the first two months of 2014, up 31% from the same period a year earlier, and the strongest January and February combined ...
NEWSMAKERS By Gilly Wright Dubbed by his supporters a gifted visionary, engineer and CEO Elon Musk is not afraid to take on both big oil and the auto sector in his attempts to drive the sustainable energy sector forward, as ...
CORPORATE FINANCING NEWS By Gordon Platt Neither the consequent volatility in emerging markets nor weak US employment data will deter the Federal Reserve from continuing to gradually reduce its purchases of bonds, analysts say. “Moderate job growth remains in place, ...