Word: bondses
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Little Bang has also made London a special attraction for commercial banks. Britain has no equivalent of the U.S.'s Glass-Steagall Act, which prohibits % commercial banks from underwriting stocks and bonds as investment bankers do. Thus such institutions as Citicorp, the Union Bank of Switzerland and the Hongkong and...
Almost since the London Exchange was founded in 1801, the City's bowler- hatted business culture has flourished in a cozy world of old-line brokerage and investment houses that enjoyed both fixed commissions and an oligopolistic grip on various financial functions. Until Big Bang occurs, for example, only six...
The biggest single cause of Turner's current balance-sheet problem is the MGM/UA acquisition from wily Owner Kirk Kerkorian. Analysts estimate that Turner overpaid as much as several hundred million dollars for the moviemaking studio and its assets, especially a rich library of some 3,600 films that includes...
Emotional ties between man and beast are well documented, although locating the roots of these bonds is a matter of speculation. Cats and dogs, says Serpell, have characteristics compatible with humans. The wolf, a forerunner of today's dog, has strong pack instincts, an attribute that made attachment to early...
One reason that the Japanese have descended on London is its importance as a center of the burgeoning Eurobond business. In this market, international lenders can underwrite bonds that are denominated in foreign currencies and free from virtually any government restrictions. In 1980, when they were still neophytes, Japanese banks...