Magazine article Global Finance

Dear Reader

Magazine article Global Finance

Dear Reader

Article excerpt

Assuming the editorship of a long-established international financial and business magazine is a challenge in the best of times. But as we put the finishing touches on "my" first issue of Global Finance, I find that the mission of providing an interesting and relevant package of monthly information to sophisticated readers worldwide is daunting indeed.

Firstly there is the scope of the problem. Not so long ago, most of the truly important business and banking news of the world occurred in the United States, Europe and Japan.Today events in any one of two dozen markets can shake the world economy, and we have to keep an eye on all of them-plus a few others (like Zimbabwesee page 64), where things can get hot, with serious international consequences.

Secondly we are challenged by the pace of these changes. With the US NASDAQ stock market whiplashing almost daily and jerking most global markets in its trail, the velocity of swings from. euphoria to despair is stunning. And if you really want to, you carry a wireless device in your pocket to bring you second-by-second accounts of the news.

Thirdly, we deal with the volume of these changes. Never has the flow of deals-IPO's, mergers, bond issuance, and other forms of corporate finance-been greater in terms of number and size of transactions than in the first quarter of this year.

Fourthly there is the shift in paradigm and terms of reference that are being brought to us, courtesy of the Internet and its dot-com offspring. People who six months ago were barely able to open their e-mail are carrying palmtop computers today and worried about POP3 compliance or the right ASP software for their company or the fate of that B2C stock in their portfolio. …

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