G20 takes helm of world economy
The Group of 20 will take on the role of caretakers of the global economy, giving rising powers such as China more clout, and roll out tougher rules on bank capital by the end of 2012, a draft communique said on Friday. Read Full Article here.
Confidence re-emerging for deal financing
Bank lending, which plummeted after the credit crunch, remains constrained and leveraged buyout deals are still difficult to arrange. Read Full Article here.
U.S. large-loan bank losses triple to $53 billion
U.S. regulators say that the level of losses from syndicated loans facing banks and other financial institutions tripled to $53 billion in 2009, due to poor underwriting standards and the continuing weakness in economic conditions. Read Full Article here.
Global IPOs surge in Q3, led by buyout deals
The global market for initial public offerings rebounded decisively in the third quarter, on the strength of large deals in Asia and a U.S. market that emerged from its doldrums. Read Full Article here.
Boutiques grab M&A market share from mega-firms
Wall Street's biggest firms have seen their overall share of dealmaking erode over the past decade as boutique and mid-sized firms lure away rainmakers and provide niche expertise. Read Full Article here.
JPMorgan leads pack as underwriting drives fees
Banks led by JPMorgan Chase & Co reaped a bonanza of underwriting fees from debt and equity capital-raisings in the third quarter but a deepening slump in M&A activity depressed overall investment banking fees. Read Full Article here.
Morgan Stanley leads as M&A shows signs of life
Morgan Stanley is outrunning archrival Goldman Sachs as 2009's busiest adviser on mergers as optimism grows that the crippling effects of the financial crisis on dealmaking may be easing. Read Full Article here.
Small businesses see U.S. economy improving
Many U.S. small businesses are optimistic about growth and see the economy improving in three to six months, according to a survey released on Friday. Read Full Article here.
U.S. bedmaker Simmons seen filing for Chapter 11: report
U.S. bedmaker Simmons Co is expected to file for Chapter 11 bankruptcy protection under a plan where it will be sold to Ares Management LLC, a private-equity fund, and the Ontario Teachers' Pension Plan, the Wall Street Journal said, citing people familiar with the matter. Read Full Article here.