Global Investing

UK economy — too gloomy to chart?

September 18, 2008

During a briefing in the London office of Societe Generale this week, Alain Bokobza, head of European Equity and Cross Asset strategy, handed out a booklet containing series of charts and graphs to explain the bank’s latest multi asset portfolio for the fourth quarter.
Chart
As he explained the outlook for the UK economy, a chart on UK growth was discreetly missing from the booklet.

Last wisdom from Lehman Brothers

September 16, 2008

Lehman“Dear readers, let us begin this week’s missive by acknowledging its partial incompleteness. For understandable considerations, there are some capital market situations that we cannot discuss. We thank all our readers for their support and look forward to continuing to provide you with timely analysis.”

Thou shalt invest wisely?

September 3, 2008

Bull markets are funMerrill Lynch is giving a refresher course on Ten Markets Rules to Remember, created by Bob Farrell, the bank’s former dean of research during his tenure from 1957-2001.

Rug pulled away on UK bank funding

September 3, 2008

rtx6jie.jpg Britain’s banks may have borrowed over 200 billion pounds from the Bank of England, four times the amount they were expected to take under an emergency liquidity scheme. It leaves them facing a sharp funding strain next month when the rug gets pulled away.

Fannie, Freddie fanning fears

August 27, 2008

More stress on its balance sheets is just about the last thing that the banking sector needs. The subprime mortgage crisis has already battered banks, leading to huge losses, scrambles for funding and free-falling banking shares. The S&P index of financial stocks has lost more than 30 percent so far this year. At its worst, the index plunged around 55 percent between a high in May last year and a low in June this year.

Steelmakers show industrial Germany is weathering downturn

August 14, 2008

steel2.jpgIt’s not all doom and gloom — just ask steelmakers.

Germany’s ThyssenKrupp and Salzgitter have both raised their profit forecasts, fuelled by demand from fast-growing China, India and Russia. Profits are soaring on sky-high prices for rolled and flat steel.

UBS: no longer in one piece?

August 12, 2008

ubs.jpgIt is now official — Swiss bank UBS has ditched its much-cherished “One Bank” strategy.

Phew! SocGen profits only slump 63%

August 5, 2008

socgen.jpgIt doesn’t seem much to cheer about but Societe Generale investors breathed a sigh of relief when second-quarter net profit only fell 63 percent.