Summit Notebook

No recovery seen for former high-flyer India

November 13, 2008

By Tony Munroe

When markets boomed, India’s star was shining bright and deals were plentiful, but the hard landing means any recovery will be painfully slow.

Exotic trades? No way!

November 13, 2008

By Jeffrey Hodgson

Increasingly risk-averse hedge fund managers are in no mood to chase exotic trades as they scramble to boost returns.

Cutting costs: business class to soda cans

November 13, 2008

By Kevin Lim

Some companies are taking cost cuts pretty seriously.

That’s the message from Aberdeen Asset Management’s Asia chief as the firm pulls out all stops to trim costs in these lean times.

For a banker, no panic in China

November 6, 2008

“Well insulated” China, though suffering from sharp drops in its own equities markets, doesn’t have the sense of crisis that exists in the U.S., says Philip Partnow, managing director of UBS Securities Ltd in Beijing. UBS, the first Western bank to assume management control of a domestic mainland brokerage, points out the fact that what’s hitting companies is not subprime-related securities gone bad.

Where would you invest now?

October 24, 2008

Global markets are tanking, investors are hoarding cash and the financial crisis has hit central and Eastern Europe. Where do you run when the world is on fire?

Carbon fails to capture EU cash

October 22, 2008

alan_svoboda.jpgThe EU boasts of its global leadership in fighting climate change but some in the energy industry wonder whether the bloc will put money to work to cut greenhouse gas emissions.

Will environment be forgotten in crisis? OMV says no.

October 22, 2008

wolfgang_ruttenstorfer.jpgThere are some who say the economic downturn means ambitious plans to fight global warming should be put on ice.

Audio – “If you are stupid but really big…

September 22, 2008

ross1.jpg“…the government will bail you out, if you are stupid but medium sized, you die,” said Wilbur Ross at the Reuters Restructuring Summit. “That’s going to encourage some very bad behavior by some big institutions.”

Video – More gloom ahead?

September 22, 2008

Lehman Brothers is the latest high-profile bankruptcy to rock Wall Street but this could be just the beginning of corporate bankruptcies across the United States.Ruben Ramirez reports from New York.

AUDIO-A bunch of drunken sailors

September 22, 2008

ge.jpg    Last year the lending business was as frothy as a head on a Guinness beer and many financial firms spent a little too long hanging out at the bar.
    Now, says Rob McMahon, managing director for restructuring, financial firms are looking around and trying to figure out exactly what happened, and who can still stand.
    “It’s kind of like the drunken sailors. They left the boat to take their weekend leave and now they went back to the boat and they are all talking about what they did and they are realizing after sobering up, “Ok what did you do what did I do? Ok. Oh you are 25 times levered? Yeah really, you think that’s bad? Man i’m 35 times levered.”
    Financial firms increased leverage – or debt – in recent years as money became very cheap, and they relaxed lending rules for themselves and their customers.
    Now comes the tough part. Figuring out who had so much to drink that they’ll need to check into the financial equivalent of the Betty Ford Center – bankruptcy protection. 
To hear the audio clip, please click here