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. 18, No. 3, March

Corporate Aviation Market Pulls out of Nosedive
Fractional ownership and 'Jet Cards' are helping boost demand for business jets. By Gordon PlattThe market for executive jets hit a patch of turbulence when the economy tanked in 2001, but with the stock market soaring and mergers back in vogue, it looks...
Emerging Markets: Where Will the Next Emerging Markets Crisis Erupt?
The mere hint that US interest rates would eventually have to increase from their lowest levels in 40 years was enough to send shock waves through some emerging markets, particularly in Latin America, where several major economies are still on the ropes.While...
EU Divergence
Once the most ambitious candidates, Poland and Hungary are back-pedaling on plans for an early adoption of the euro. If they do not quickly rein in their swelling budget deficits, they can forget about entering the eurozone this decade. By Nicholas SpiroWhat...
Goodbye, Greenback?
If you take a glass-half-full approach, the state of the US's finances is not so bad at all. There are still plenty of buyers for its treasuries, the dollar is adjusting to a level that makes US exporters happy, and despite that fact that interest rates...
Indian Appeal
India's economy is surfing a wave of growth driven by the booming outsourcing industry. There may yet be some hazards ahead, though. * By Santiago FittipaldiInternational companies have flocked to India to carry out non-core operations, taking advantage...
Issuance Juggernaut Picks Up Speed
The stampede to issue debt among emerging markets sovereigns and corporates is showing no signs of slowing down. Some think investors may get burned, though. By Santiago FittipaldiWith US and UK interest rates at record lows, excess global liquidity...
Outward Bound
The market for outsourcing treasury services is snowballing as products become more refined and corporations grow more confident in the process. By Anita HawserOutsourcing has become a hot topic in the American media only in the past few months, but...
Spain's Banks Bet Big on Latin America
Spain's banking titans have placed a $26 billion bet on Latin America becoming their growth engine of the future. It looks like 2004 could be the make-or-break year for that gamble. By Jules StewartWith domestic retail banking reaching the saturation...
Technology Rebounds
After a tough three-plus-year run, technology vendors, buyers, bankers, investors and venture capitalists are daring to ask the forbidden question: Is tech funding reviving? * By Adam RombelIs tech finally hack? The signs point to 2004 being the best...
THE AMERICAS: ADRs Returning to Role as Takeover Currency
The use of American depositary receipts to pay for foreign takeovers of US companies likely will increase this year, market participants say.Many foreign issuers have reconciled their accounting to US Generally Accepted Accounting Principles, or GAAl^...
THE AMERICAS: Group of 7's Warning Fails to Support Dollar
In a move that came as a surprise to some analysts, the Group of 7 industrial nations warned against excessive volatility and disorderly foreign exchange movements in its communique following the group's early-February meeting in Uoca Raton, Florida.The...
THE AMERICAS: High-Yield Issuance May Keep Growing
While US corporate bondmarket participants expect overall issuance to decline in 2004 as interest rates go up, high-yield issuance likely will remain strong and could even increase slightly.A healthier economy will make it more attractive for companies...
THE AMERICAS: M&A Premiums Could Rise as Banks Fight for Survival
The US banking landscape has changed significantly since last October, when Hank of America agreed to merge with FleetBoston in a $48 billion stock deal.That transaction has triggered a wave of bank mergers that likely will be followed by more to come,...
United States: Alan Greenspan Invents a New Version of Fedspeak
Federal Reserve chairman Alan Greenspan has turned the English language into an instrument of monetary policy, analysts say. What is the difference between being patient and waiting for a considerable period, they ask?Fed governor Ben S. Bernanke told...
United States/china: And the Winner Is. China
Global executives are losing faith in the US and shifting to China as a place for business growth.The US, once considered a bastion of stability, they say now appears too risky.The majority of respondents to the Economist Intelligence Unit's (EIl)) CEO...
United States: Fuller Disclosure
When it comes to corporate communications, the bar just keeps getting higher. While many public companies are still trying to get used to providing investors with anything more than bare-bones information, those who want to use that information are clamoring...
United States: Mutual Madness
Some things never change. After sitting on the sidelines watching the halting but inexorable rise of the US and pretty much every other markets' stock indexes last year, many investors seem to have decided, finally, that the time has come to join the...
United States: Nandapurkar Switches Sides as Eurex Storms Windy City
Satish S. Nandapurkar, a former military officer in the US Air Force, dropped a bombshell on January 21, when he resigned as managing director, products and services, of the Chicago Mercantile Exchange to become CEO of Eurex US. The CME could be forgiven...
United States: Record Trade Deficit: A Sign of Strength or Weakness?
After two years of a slumping dollar, one could be tempted to look for signs of improvement in the gaping US trade deficit. Look again. While exports have increased, imports are growing even faster. The overall trade deficit soared to a record $489 billion...
World's Best Foreign Exchange Banks 2004
Global Finance selects the leaders in the world's biggest financial market.EVERY THREE YEARS the Bank for International Settlements takes a "snapshot" of the foreign exchange market, with central banks around the world contributing simultaneous surveys...