Summit Notebook

The Nowotny-shaped recovery

September 28, 2009

 

By Petra Spescha

 

European economists have been nearly unanimous about what Europe’s recovery from the crisis will look like on a chart: L-shaped — a severe slump with a prolonged period of flat or minimal improvements in the economy.

Welcome to the 2009 Reuters Restructuring Summit

September 28, 2009

 

 

 

The U.S. recession and global credit crisis pulled a stunning array of corporate giants into bankruptcy court this year. Automakers General Motors and Chrysler, real estate company General Growth, and chemicals maker Lyondell all sought protection from their creditors after being brought down by rapidly changing economics and customer demands. 

Emerging Europe – what’s next?

September 25, 2009

 

Reuters Central European Investment Summit, September 28-30, 2009

 

The former Communist countries of central Europe have been the last to be hit by the global economic crisis, but th e hit they took was among the hardest. Only big neighbour Russia’s deep plunge into recession is rivaling the sharp fall from record economic growth that’s in store this year for the economies between the former Soviet Union and Western Europe.

Of bees, bribes and bureaucrats

September 15, 2009

Russian banking and aviation magnate Alexander Lebedev, owner of London’s Evening Standard, estimates that Russian bureaucrats have pocketed $500 billion in bribes in the past four years and corruption and red tape make Russia one of the worst places to invest on earth.

Move over, Nouriel Roubini

September 15, 2009
Mikhail Alexeyev, a veteran of Soviet and Russian banking who now heads Russian operations for Italian bank UniCredit, said he saw the 2008 financial crisis coming when he was still a student at a Soviet state institute of finance.  “I knew it would happen back in 1981, when I was studying political economics. In capitalism you get crises. Marx and Lenin teach us that.”

Loose lips sink stocks

September 15, 2009
    The president of Renaissance Capital — Russia’s largest home grown investment bank, a fiercely competitive institution which has now survived two crises — is not interested in publicly assessing the competitive landscape in Moscow’s financial sector.     Russia’s stock market was all but shut down in a single day by rumours of distress among brokers, sparked by the selloff of stocks held on margin or as collateral on repurchase agreements.     Operating often on whispers, brokers foreign and domestic slammed shut limits on each other, causing trade on the stock market to seize up.     The first victim — brokerage KIT Finance — was announced by evening and became the first financial instituation to receive a state bailout.      “The crisis has shown that rumours and gossiping about competitors is a very dangerous thing,” Renaissance Capital President Aganbegyan told the Reuters Russian Investment Summit almost a year later.

Moscow: The least worst place for your money

September 14, 2009

   Russian investment bank Renaissance Capital was a big backer of Moscow’s ambition to become a major emerging-markets financial centre, a bridge between European and Asian capital, a rival to Dubai.

Global warming: Economic opportunity or not?

September 11, 2009

Stephan Dolezalek, Managing Director of VantagePoint Venture Partners and Tom Werner, Chief Executive of solar power company SunPower, sat down at Reuters’ Global Climate and Alternative Energy Summit in San Francisco and shared their views on global warming, investment and cleantech.

Echelon’s Ken Oshman on smart meter sector consolidation

September 11, 2009

Ken Oshman, the Chief Executive of Echelon, sat down at Reuters’ Global Climate and Alternative Energy Summit in San Francisco to speak about revenue forecasts and smart meters.