Comment EM and The Cover

Equity investors are too complacent about the prospects of the wheels coming off of trade talks between China and the US. Such optimism could wreck equity capital markets for the year if negotiations sour,

Investors eyeing up Tottenham Hotspur’s plan to repay some of its debts by borrowing against its stadium should be wary of buying into a sport that has a long history of burning investors.

If the architects behind the complicated world of bank resolution and prudential capital regulation have proved one thing, it is that the devil is not always in the detail. Sometimes labels matter more.

As Uber prepares to ride a wave of hype to a valuation that could be $100bn at IPO, potential buyers should make sure they're not relying on market momentum alone to carry these loss-making juggernauts higher.

The elimination of Juventus from football's Champions League on April 16 wiped €390m off its market capitalisation by the following morning, highlighting the risks of owning equity in Europe’s premier football clubs.

Equity markets have recovered much of their swagger in 2019, with the S&P 500 almost completely clawing back losses from the worst sell-off since the financial crisis.

Sustainable finance is bubbling with exciting new initiatives. But making people feel good is not enough. Activity needs to produce results, and so far there is more noise than movement. The tone is far too sedate — it needs some hard core activism to break the torpor.

The mania surrounding the UK’s exit from the European Union is reaching fever pitch but the City has ploughed on during the last three months, despite the appalling leadership shown by the UK’s leading politicians.

The logic for a merger between Deutsche Bank and Commerzbank still looks far from convincing, despite the wishes of Germany’s political elite, writes David Rothnie.

As Marcella climbed into the transport pod for her short journey home to her cosy apartment in the Chongqing suburbs, her wristwatch buzzed, reminding her that this would be her last ever commute. She leaned back and thought of the days when she started out in banking, in 2007, right at the start of GFC1, the first Global Financial Crisis. In her 43 year career, how the world had changed.

A vote to leave the EU has left the population of the UK divided. The country’s banking sector will increasingly come to share in this division, with the largest financial institutions able to muddle on in capital markets even as smaller lenders find themselves beholden to events in domestic politics.

The root of arbitrage is the same thing being priced differently in two markets. As markets have got bigger and more sophisticated, arbitrage has become harder to find.