Editorial: Stay firm in face of recession
12 Dec 2007 | by Lucy Barrett, editor
Christmas festivities are being dampened by a raft of headlines screaming of credit crunches, recession and yet more advertising restrictions.
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Frank Portnoy, an American professor of finance, believes that the main purpose of financial innovation is to allow banks and investing institutions to do things that would otherwise be illegal.
Christmas festivities are being dampened by a raft of headlines screaming of credit crunches, recession and yet more advertising restrictions.
I doubt many readers have heard of Transense Technologies, yet what has happened at the company since October is a dramatic illustration of how the internet can rob a board of its power by making possible alternative methods of communication among shareholders.
When a hedge fund with a minute proportion of the equity of ABN Amro bank launched an attack on the management of that company, the initial reaction of most people was to dismiss it as being of no consequence.
At the end of a lengthy profile in Monday’s Financial Times, Ed Truell, the chief executive of the Pensions Corporation, said that...
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There is a takeover bid in the offing for Close Brothers, an investment bank that has prospered by the simple expedient of providing an umbrella under which bright people develop their own business ideas.
Stan O’Neal is forced to resign from Merrill Lynch after leading the group deep into the quagmire of sub-prime loans from which it will be lucky to emerge with losses of under $10bn.
Takeover bids these days are decided for the most part by hedge funds. When an intention to bid is announced, the traditional institutional investors – those running the insurance company and pension fund money – tend to sell immediately so they can deliver a boost to their quarterly performance figures.
The latest report into the alleged dominance of the UK’s ‘big four’ supermarkets shows that this is a story that won’t quite go away.