Global Finance

A monthly publication providing news and analysis of global market and economy. Focuses on corporate finance, capital markets, and more.

Articles from Vol. 17, No. 2, February

AMEX Seeks to Protect Its Perch atop the Hot ETF Market
INDUSTRY FOCUS EXCHANGE TRADED FUNDS The innovative exchange is seeking a patent for a "black box" that will power the next new product line: actively managed funds that trade like stocks * By Gordon Platt The stock ticker at the American Stock Exchange...
A Tangled Debate
COVER STORY PRIVATE FINANCE Public Private Partnerships are sweeping the globe, but in the country where they have been most used PPPs remain deeply controversial. By Mark Johnson In late September last year, US Federal Reserve chairman Alan Greenspan...
Calling in the New World to Help the Old
CEO INTERVIEW JOE PLUMERI, WILLIS GROUP A Citigroup veteran is remaking an industry stalwart. The setting: an elegant conference room in the early-20th century neo-Baroque headquarters of the Willis Group. Across a snowy square from the gleaming white...
Capping the Legal Nightmare
One of the biggest challenges facing corporate America is not about to go away, but there are signs that it might be capped. * By Nick Parsons Finally, there's light at the end of the tunnel for companies struggling with the ballooning costs of asbestos-related...
Europe: Bet Your Hedges
To hedge or not to hedge has always been a vexing question for corporate treasurers, but recently it's got more difficult still. The imminent arrival of accounting standard IAS 309 in Europe, together with the recently introduced FA 133 across the Atlantic,...
Europe: Central European Currencies Buoyant
Central European currencies are on a structural appreciation course that will accelerate over the next few years, analysts forecast. "While Central European policymakers tend to talk their currencies down, this is only delaying the inevitable," says...
Europe: Europe Passes US in Value of Deals
For the first time in 11 years, the value of European corporate takeovers in 2002 was greater than the value of US takeovers. Credit Agricole's $16.8 billion agreement to acquire Credit Lyonnais pushed Europe over the top in December, according to data...
Europe's Bourses Dance in Slow Motion
STOCK EXCHANGES Consolidation continues to raise its head, but few can predict how the exchange landscape will look at the end of this year. * By Benjamin Beasley-Murray Three years ago it looked as if Europe's stock exchanges would consolidate in the...
From Public to Private
As this month's cover story (A Tangled Debate, page 22) shows, Public Private Partnerships (PPPs) are nothing if not controversial. At last September's annual conference of Britain's governing Labour Party, PPPs came closer to provoking a revolt against...
Japan: Trend Micro Adapts to Meet Evolving Security Threats
COMPANIES ON THE MOVE TREND MICRO If you're a corporate IT security manager on the frontlines of keeping your company safe from hacker attacks, you've certainly heard of Trend Micro. The Tokyo-based company has made a name for itself in protecting companies'...
Next Step for Internet Banking
INDUSTRY FOCUS INTERNET BANKING Corporate clients clamor for online services that go beyond account information and transactions and actually change business processes to make them more efficient. By Adam Rombel Okay, so you've built it, but have they...
Reversal of Fortune
One of last year's award winners files for Chapter 11 bankruptcy protection Actrade Financial Technologies, honored by Global Finance as the best online trade finance provider the transaction settlement and credit area last June, filed for Chapter 11...
Sweat Those Assets
TREASURY SPOTLIGHT WORKING CAPITAL MANAGEMENT The backroom world of cash management has suddenly been thrust into the limelight. Cash is king.The swath of false accounting scandals in the United States last year reinforced the strength of that dictum....
The Americas: Dollar Expected to Fall, but Not to Collapse
The US dollar fell 9.2% on a trade-weighted basis in 2002, and analysts predict further losses for the greenback this year, particularly against the euro. Fears of a plunge in the dollar are overdone, however, despite the potential for a war with Iraq...
The Americas / Europe / Asia: Currency Forecasts
FOREIGN EXCHANGE THE AMERICAS Dollar Expected To Fall,, But Not To Collapse The US dollar fell 9.2% on a trade-weighted basis in 2002, and analysts predict further losses for the greenback this year, particularly against the euro. Fears of a plunge in...
The Americas: US Corporate Volume Slumped 28% in 2002
CORPORATE FINANCING NEWS CORPORATE BONDS THE AMERICAS US corporate bond issuance in 2002 fell 28% to $465 billion, according to analysts at Dealogic in New York. The largest investmentgrade issue was General Electric Capital's $6.9 billion, two-part...
The Other US Deficit
It's not uncommon for corporate financial officers to cut billion-dollar checks these days as they shore up the sagging balances of their company pension funds. * By Paula L. Green Three years of plummeting equity returns and some of the lowest interest...
World's Best Trade Finance Banks 2003
BEST TRADE FINANCE BANKS The financial services industry enhances its role as trusted intermediary by taking the risk out of international transactions * By Gordon Platt As the locomotive of the global economy, the United States faces considerable uncertainty...