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. 7, July/August

A Point of Principle
Ten global banking giants have taken a bold step toward ensuring projects they finance around the world meet strict environmental and social criteria. The impact of this move could be dramatic.Early last month 10 of the world's leading project finance...
Best Sub-Custodians in 2003
Global Finance selects the winners in a specialized area of finance-one that is often hidden to end-users of custody services.Sub-custodians form the bedrock of the custody business. They hold and process securities on behalf of other custodians and...
Bulgaria: Claiming the Spoils of War
Bulgaria's young finance minister Milen Veltchev spent much of June in New York and Washington trying to cash in on his country's recent support in the UN Security Council of the United States' Iraq invasion. Of course, there was the obligatory FDI pitch...
Companies Weigh the Cost of Pensions Bill
Potential changes to the way companies calculate their pensions program funding could save them a fortune. But the wait is agonizing.Corporate finance executives in the US are eagerly tracking a piece of federal legislation that could save companies...
Europe: UK Not Ready Yet to Adopt the Euro
The British pound fell sharply against both the euro and the US dollar on June 9 after studies conducted for the UK treasury suggested that sterling would need to weaken considerably more than the market anticipated before Britain could join the euro.The...
Latin American Corporate Finance Teams Get Ready to Round Up Some Deals
Corporate financing in Latin America is about to make a comeback, as deals that make strategic sense can't be put off any longer, bankers say.Growing confidence in leftist President Luiz Inacio "Lula" da Silva in Brazil is reflected in the rise in the...
Lula's Recipe for Brazil's Economic Recovery: A Little Big of Give and Take
Brazil's new leader continues to impress the international financial community with his steadfast commitment to economic reform and his skillful navigation of some difficult political terrain.The politically savvy administration of Brazil's left-leaning...
Make It Personal
After a slow start, the concept of corporate social responsibility (CSR) has finally taken off on a grand scale. The pressure for corporations to become more accountable has grown steadily, fueled in part by public disgust over corporate malpractice....
Planning for Enterprise
As businesses seek to tighten their control over their operations-and their costs-enterprise resource planning systems are making considerable headway into non-traditional areas.The three-way bidding war that broke out recently between PeopleSoft, Oracle...
Preaching to the Convertibles: Markets Find New Favorite
As equities set off on their stealth rally this spring, secondary stock offerings and convertibles were finding new friends among investors.Global equity capital markets may be in their worst state in decades, but bankers can still always find cause...
Shaping Up
When companies choose to do the right thing-for whatever reasons-it's good not just for their corporate souls but for their business, too.If it was a trend this time last year, it is a veritable frenzy this year. The growth in interest in corporate social...
The Americas: Companies Refinancing Bonds at Record Pace
Corporations with less-than-perfect credit ratings are rushing to borrow in the US high-yield bond market to refinance outstanding issues at lower rates and to avoid using bank loans, analysts say.New-issuance volume soared to a monthly record of $18.4...
The Americas: US Dollar Policy Confusing at Best
The US administration's assertion that its dollar policy remains unchanged did little to clarify exactly what that policy is, analysts say.President Bush's comments in early June that the dollar was devalued inappropriately and that the administration's...
United States: Corporate Criminals Begin Drawing Jail Time
June may be a good month for weddings and graduations, but this rainy June in the US Northeast was not a propitious period for executives charged with corporate wrongdoing.On June 10, Samuel Waksal, former ImClone Systems CEO, became the first chief...
United States: Here Come the Europeans
It's hard to believe that it was just three years ago that Nasdaq swaggered over to the Old Continent to establish Nasdaq Europe. Riding high on the technology bubble, Nasdaq was confident it could replicate in Europe the sort of dramatic performance...
United States: Spicing Up the Street
Sex, money and power have always been closely related, and on a recent morning in New York City the three came together in the heart of the financial world. While traders were taking a well-deserved break, the New York Stock Exchange was playing host...
United States: Turning Private Clients' Debt into Assets
If you're an investment adviser, you're probably very familiar with this common refrain from clients: "Gee, I'd like to invest, but I just don't have the money right now." Adrian Nazari, CEO of a four-year-old Silicon Valley software firm, FinancialCircuit,...