Guy Hands, head of private equity house Terra Firma, warns US and Europe could suffer ‘Japanese problem’ unless banks’ leveraged loans are restructured
Goldman apologises for role in crisis and pledges $500m to help US small businesses
Mark Lowe, who set up Nomos Capital Partners is being sued for discrimination by a former employee
Doomed to repeat history? asks whether we need to learn from excessive consumer debt or was it an issue of leverage in the financial system
Bankers fear over-regulation
Tankers store oil as futures prices rocket
Consumers have low levels of financial literacy
Are we financially savvy enough to make the right decisions about how to invest for retirement or calculate mortgage payments or avoid the danger of repossession?
Not enough people are, according to the OECD. In a recent study the organisation found consumers not only have low levels of financial literacy preventing them from making informed financial decisions but they often overestimate their knowledge and skills.
Now Allianz has launched a website where people can find out about a whole range of financial terms to help their decision making, from estate planning to merging portfolios after marriage. There’s even a chance to trace how the price of coffee has increased in the past 30 years or how it might change in the future.
And if that doesn’t help to demystify some of the jargon then try the Financial Times lexicon.
Specialist pension buy-out companies will not be cheered by the latest analysis of their faltering sector.
Buy-out specialists that sprang up a few years ago to take over liabilities of defined benefit schemes got off to a strong start but the market has fallen flat in the financial crisis.
Just in case anyone is wondering why BlackRock is trying to snap up Barclays Global Investors, a small reminder dropped into my mailbox today with a preview of research on the exchange traded fund industry, albeit delivered by BGI.
It quotes data from mutual fund consultant Strategic Insight to the effect that net sales of mutual funds were minus $6bn in the first three months of the year compared to net sales of $7.7bn for ETFs, one good reason why the US money manager might be keen to get hold of BGI’s business.
It’s time the asset management industry held boards to account for not listening to what fund managers are saying over corporate governance issues.
White knuckle ride ahead
Asset managers should grit their teeth for a painful year ahead. Banks and hedge funds may have been taken to the extremes of their pain thresholds already but it’s yet to happen to active managers.
tweeting off limits
In an age of blogs, twitters, professional and social networking I’ve just learned that some organisations are clipping their employees wings by forbidding them to access such sites from company computers.
At least that’s what happens in the world of some big investment banks.