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. 13, No. 4, April

A Breakneck Consolidation in Global Insurance
NEW ACQUISITIONS OF US INSURANCE COMPANIES BY EUROPEAN BUYERS SIGNAL THAT THE INSURANCE SHAKEOUT HAS BECOME TRULY GLOBAL. INDUSTRY FOCUS Insurance companies have become the most restless, acquisition-hungry group in the world. Everywhere insurers are...
A Matter of Taste
SNAPPING UP LOCAL BRANDS MIGHT BE THE ONLY OPTION FOR CONSUMER FOOD COMPANIES HOPING TO CRACK OPEN ASIA'S EMERGING MARKETS. Salomon Smith Barney's equity sales and investment banking divisions in Hongkong can not agree on whether Indonesia's food industry...
Cracking Japan
For sheer complexity, few deals can rival the alliance announced in February between tiremakers Goodyear Tire & Rubber and Sumitomo Rubber Industries. Stuffed full of joint ventures, equity swaps, and cash payments, it's enough to make most Western...
FAS 133 Software Scramble
How are software vendors and their corporate clients preparing to implement FAS 133, the new standard for reporting on derivatives? "They're has sling and hustling,' says Betsy Glaeser, partner at Deloitte Touche in New York. That about sums it up. Financial...
Filling the Gap with Project Loan Funds
Project finance lending has slowed to a trickle since the onset of the emerging markets crisis, and the paralysis at Japan's banks has crimped the flow of money even more. Now a new breed of project finance debt fund is coming along to fill the gap....
In a Class by Itself
A strong banking system and a popular, investment-friendly government mitigated the effects of the Asian crisis in the Philippines. The economy's relative strength and its outlook were discussed in Manila in mid-February. Global Finance's Howard Moore...
Letter from the Publisher
Global Finance has a new editor. She's Kathryn Hanes. Kathryn's only 27, but she's packed a wealth of experience on three continents in those few short years. She started her journalism career as a 17-year-old reporter on News Corp's Australian in Sydney....
Losing the Faith in India
In mid-February, India's partially privatized telecommunications giant, Videsh Sancher Nigam (VSNL), raised $185 million in a global depositary receipt issue. Not the biggest GDR issue ever but enough for some observers to hail the deal as an indication...
Ninth Annual Custody Buyer's Guide
For journalists, 1998 was a banner year: The Asian tiger mystique was dispelled, Russia imploded, the markets learned firsthand what "contagion effect" really means, invincible hedge fund managers crashed and burned, and the euro ushered in a brave new...
No Way to Privatize
When the Social Democratic Party came to power in the Czech Republic last year, it launched a campaign to align the interests of companies with those of the government, citing concerns about the health of these companies before they are privatized. The...
Nuevo Leon Fosters the Best of Mexican Companies
A mere two-hour drive south of the US border is Nuevo Leon state's capital, Monterrey, the city in Mexico known as the new center for entrepreneurial growth, as well as the headquarters for some of the country's most dynamic companies. With more than...
Paying for Expats
As companies globalize, the number of employees taking on foreign assignments grows. Compensation specialists at Towers Perrin suggest ways to keep expatriate costs in line, while remunerating employees fairly for taking on overseas duties. Select the...
Risk Coverage Coup
In its century-and-a-half-long history, Mead Corporation has ventured where few others have trod-into impenetrable forests and uncharted terrain. Now the paper and forest products concern, based in Dayton, Ohio-with $3.8 billion in 1998 revenues-is pioneering...
Takeover Coup in Chile
With his $2.1 billion bid for control of Endesa Chile, Latin America's largest electricity generation and transportation company, Bruce A. Williamson appears to have broken what may be the region's longest-running corporate logjam. If so, it will likely...
The Pioneers of Innovation
Between 1990 and 1995,40% of the Fortune 500 fell from the list.Why? Our research indicates that these companies' CEOs may have been looking backward, basing strategic decisions on traditional portfolio models no longer relevant in an era of unprecedented...
The Trouble with Triple-A
For 24 years the Minnesota Mining & Manufacturing Company was one of those select few companies in the world to sport a triple-A credit rating. The company long maintained a debt-to-capital ratio of 25% and prided itself on its conservative finances....
The Value Destruction Experts
Boeing's discovery that $3.6 billion of its $13 billion internal investment won't produce significant returns-and that most of it will actually destroy shareholder value instead of improving it-is the result of analysis by Marakon Associates, a little-known...
Young Bankers
THEY ADVISE HEADS OF MULTINATIONAL COMPANIES. THEY MOVE TRILLIONS IN CAPITAL MARKETS. THEY'VE NEVER SEEN A PROLONGED ECONOMIC SLUMP. AVERAGE AGE OF NEW PARTNERS: 34. As the world's population ages, financial markets movers and shakers-particularly at...