34 articles found within the last year.
Displaying results 1 - 20
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Aegon eyes cut in adviser commission
UK insurer Aegon is considering a cut in ... Advisers say Aegon’s 9% upfront commission is the ... The Financial Services Authority is concerned that the ... Intermediaries in the wealth industry run the same ... The FSA has said that clients should be ... Aegon has broadly welcomed the recommendations, which are...
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Global writedowns set to hit $1 trillion
The total of writedowns and credit losses in ... To put that figure – $986.8bn over four ... • At the current rate, it would take ... • The stack of bills would weigh 970,973 ... • Laid end to end, the bills would ... • Woven together as a carpet, they would...
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'Gloomy' Goldman picks top trades for next year
Goldman Sachs has unveiled seven of its top ... In its global economics weekly report today, Goldman ... The trades range from going long on Chinese ... Trade number five is selling credit protection on ... Goldman said mounting concerns about Sweden’s banking sector’s...
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Cheap borrowing is a thing of the past
“All good things must come to an end.” ... In the four years before the crisis struck ... Since then, the tables have turned and a ... The cost of raising debt in any asset ... Suki Mann, head of European credit strategy at ... For bond investors, it is as Mann described ... However, for issuers of debt, the high cost...
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Credit crisis is not worst in history
The financial crisis, which is being felt in ... From peak to trough, global equities fell 54% ... From its peak at the end of October ... Marsh said: “You might well argue that the ... But the bear market of the Great Depression ... In dollar terms, the MSCI World index fell...
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Comment: Gearing works two ways
With hindsight, the decision of UK asset manager ... Taking account of cash on its balance sheet, ... In effect, the banks have given up rights ... In return, according to sources close to the ... The debt does not need to be paid ... New Star is fighting to save costs where ... A spokesman for New Star declined to comment....
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Asset managers face covenant woes
Some of the world’s largest asset managers may ... Janus Capital, GLG Partners, Legg Mason, Fortress and ... The fear over debt marks a watershed for ... The report said: “The extreme stress in the ... Asset managers’ debt conditions tend to be tied ... But companies would renegotiate the terms on their...
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Securitisation chief departs UBS
The head of securitised products at UBS is ... Ramesh Singh, global head of real estate and ... Responsibility for running the division will now be ... Bill Chandler, has been appointed as head of ... Jim Reichek will continue to be US head ... Jack McCleary has been appointed as head of...
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Deutsche hits second billionaire with margin call
Deutsche Bank has hit a second Russian businessmen ... Alexander Zanadvorov, the owner of Russian supermarket chain ... Seventh Continent shares have lost half their value ... Zanadvorov had used his holding in Seventh Continent ... Deutsche Bank last month came close to taking...
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Billionaire looks for VTB loan after margin call
One of Russia’s richest men is attempting to ... Alisher Usmanov is attempting to secure a loan ... The Dresdner margin call follows a collapse in ... This morning a 1.5% stake in Gazprom was ... Usmanov, who has a fortune of $9.3bn, according ... Deripaska has so far been served with margins...
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Credit Suisse welcomes $8.75bn capital boost
Credit Suisse said Thursday the massive capital increase ... "The measure will give us unquestioned capital strength," ... As part of its plan to raise fresh ... The capital-raising measures have been underwritten by a ... The move will help Credit Suisse boost its...
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Iceland scrambles to save banks and economy
Iceland's government and banks scrambled Sunday to find ... Iceland's banks swelled during the booming economy in ... The krona, Iceland's currency, has plummeted, imports have ... At marathon meetings at a guest house in ... Iceland's pension funds, to which private employers and...
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Sigma's fall could worsen market's pain
The latest wave of financial turmoil has crippled ... In a sign of the repercussions of last ... The default will likely leave investors in some ... If the banks sell, they could worsen the ... Sigma's lenders could choose to keep the fund's ... An official at Gordian Knot., which runs Sigma,...
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Debt market faces worst week since 1989
US debt markets are facing their worst week ... No investment grade bonds have been sold in ... The last time no investment grade bonds were ... Year-to-date debt market volumes are down 34% globally ... The dramatic fall off in European debt issues ... JP Morgan remains the world’s largest underwriter of...
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RBC sells UK housing sector bond
Canadian bank RBC Capital Markets has sold a ... The £250m (€313m) fixed-rate, secured bond – reportedly ... RBC said the deal is the first major ... Institutional investors have largely shunned bonds backed by ... However, there appears to be investor demand for ... He added: “The orderbook for this deal is...
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Credit Suisse unveils new co-heads of derivatives sales
Credit Suisse has named two new co-heads of ... In an internal memo seen by Financial News/Wealth ... Yem runs the SSDS division for Europe and ... The new appointments come two weeks after Credit ... He reports directly to Gael de Boissard and ... Porath, who formerly headed Credit Suisse’s European strategic...
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Macro-economic gloom dampens investor spirits
European investors have become more pessimistic about the ... According to the State Street Investor Confidence Index, ... The global index, which has swung erratically this ... The index, which was created by State Street ... The fall in the index comes in the ... Andrew Capon, vice president at State Street, said...
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UK bond investors bullish despite high inflation
Economists and bond fund managers expect a downturn ... The Bank of England announced today that UK ... At first glance, the announcement is further bad ... According to UK consultants Pension Capital Strategies, the ... Graeme Caughey, head of government bonds at Scottish...
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UBS predicted to report further €3.4bn hit
Credit Suisse analysts have predicted that Swiss rival ... In a pre-results research note, Credit Suisse analysts ... They said that fixed income revenues could be ... Overall investment banking revenues are expected to decline ... The analysts predicted that UBS should write down...
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Europe posts biggest drop in global debt volumes
The volume of debt sold by European issuers ... Sales of new bonds from European issuers have ... At that level, new sales from European issuers ... While US volumes have not declined by as ... This drop-off in dealflow comes just two months ... In the loan market, global syndicated lending volumes...
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