We’re pleased to present our Global Debt Capital Markets Review for the first quarter of 2015. Check out the highlights below and make sure to join our webcast on April 14th, presented by Matthew Toole, Head of Deals Intelligence along with agenda-setting financial insight from Jeff Goldfarb, US Editor, Breakingviews.
Eighteen of Europe’s biggest banks cut a combined 21,500 jobs last year, but that was less than half of the 56,100 jobs cut by the same banks in 2013. Six of the biggest U.S. banks cut a total of 37,500 jobs last year, having shed 45,700 in 2013. That means more than 160,000 jobs have been cut across the 24 banks in the past two years. The six U.S. banks shed 7.3% of staff in the period, against 4.1% for the Europeans. Today’s graphic shows the net change in jobs at major European and U.S. banks.
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This week’s post is by Anders Nordeng, a senior carbon market analyst on Thomson Reuters Point Carbon Commodities Research & Forecasts team.
Buying and selling emission rights continues to be seen as a controversial instrument for cutting CO2 emissions. Some argue that it doesn’t work. Some accuse it of being equivalent to the indulgences of the Catholic Church of old, whereby Western governments and companies buy remission for their sins – only to go on polluting as before.
The opposite is also heard: that developing countries use it as a ploy to draw investments to industry and infrastructure projects by feigning a positive effect on the global climate. (more…)
Watch this video interview with Global Editor in Chief of Reuters Breakingviews Rob Cox, where he talks about covering some of 2014’s biggest stories including China’s emergence, the Alibaba IPO launch, and global deal trends in 2014 and the outlook for this year.
- Check out all of our coverage of our 2014 Annual Report.
The Reuters Breakingviews ebook, Alibaba and the Twelve Digits, takes a closer look at China’s e-commerce giant and the spectacular growth story that led to its historic 2014 initial public offering.
Our white paper, The Through Train: Stock Connect’s Impact and Future, published in partnership with ASIFMA, examines the implications of, and outlook for, the recently launched Shanghai-Hong Kong Stock Connect initiative.
As deal activity resurged around the world in 2014, global investment banking fees across mergers and acquisitions and capital markets activity saw a nearly seven percent increase over last year and their strongest annual period since 2007. Today’s graphic shows the top nations in investment banking fee activity in 2014. For the full interactive experience, head on over to our 2014 Annual Report (or click on the image below), where you can see exactly where IB fees have increased, decreased, and to what degree.
The potential of next generation FinTech (Financial Technology) could be the big bang disruption to fuel the growth in financial markets and regulatory agencies. London is one of the major cities at the center of global technology-led financial services. James Powell, Chief Technology Officer, Thomson Reuters, will host a diverse panel of FinTech influencers and innovators who are helping to move the UK financial industry toward the £20 billion mark.
Meet the panelists:
Islamic financial institutions must boost transparency to meet AAOIFI governance standards and address critics
A key difference between Islamic and conventional financial institutions is the legal rights of depositors. While in practice, institutions treat their (profit-and-loss-sharing mudarabah) depositors as if they were conventional deposits, they are subject to losses as if they were equity instruments (the depositor as rabb al-mal shares profits with the bank but remains subject to losses).
Despite being on the hook for losses from the mudarabah assets in a similar way as the equity investors are to the overall institution’s losses, mudarabah depositors are not permitted to vote and can effectively only vote with their feet by withdrawing their deposits if they believe them to be at risk of loss or can find a higher return elsewhere. In this regard, mudarabah depositors (or as they are usually called — profit-sharing investment account holders or IAHs) do have priority over equityholders in the liquidity they are granted, which, in normal situations, entitles them to withdraw their deposits without any loss.
All of these factors contribute to the need to develop standards on the governance within Islamic financial institutions (IFIs), which AAOIFI instituted in 2005. The particular standard that focuses on corporate governance issues begins by outlining the underlying principle for the management that ensures they are “held to the highest fiduciary standards since they are accountable not to the equity-holders who appointed them but also for the safety of all key stakeholders as well as the community the IFI serves”.
The governance standard is that — just a standard — so it doesn’t prescribe certain methods for ensuring that an Islamic financial institution must do certain things as a result of its fiduciary standard; that is left up to the individual institution. However, it does outline some principles that are of interest to IAHs and how the financial institutions ensure what is referred to as “equitable treatment of fund providers and other significant stakeholders.” (more…)
Perhaps nowhere is the importance of “knowing why” more apparent than in the interplay of world energy markets and the increasing urgency of climate and environmental issues. See how through context, connection and insight, we help professionals know why changes are occurring in world energy, identify and develop alternatives, and monitor the environmental impacts of energy: (more…)
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Professionals today need more. More than information, data and news. More than speed. More than mobile access. They need insight, analysis and context. Solutions that simplify, clarify and deliver competitive advantage, providing confidence to act on what they know. And millions of professionals from every part of the global economy rely on Thomson Reuters for what they need to know to understand critical issues, solve tough problems and adapt to dynamic change.
During 2014, the risks of global fraud and rising terrorism; the multi-stage recovery of world markets and the opening up of China; the significant shift in oil prices and increasingly urgent focus on climate change and energy alternatives; and the economic and social impacts of an aging world population and Alzheimer’s disease were just a few of the challenges and opportunities facing our world. It was a year in which knowing more — who, what, why and how — was critical to informed decision making and successful outcomes.