The global wealth currently held by 4.4 billion adults has increased by 72 per cent since 2000 to reach $195 trillion.
Bank of America Merrill Lynch, Citigroup, Credit Suisse, Goldman Sachs International, JP Morgan Securities, Morgan Stanley, Nomura and UBS have confirmed their commitment to the FSA Rule and the supporting Code on remuneration practices. These were published in August and would come into force on January 1, 2010 (and cover payments for performance year 2009).
If the latest strategy reports of some leading foreign institutional investors (FIIs) are anything to go by, then the outlook for the Indian equity market appears bleak. This is, despite section of experts pitching for the current attractive valuations.
English Premier League soccer champions Manchester United have filed a preliminary application with the Singapore Exchange for a planned listing, a source with direct knowledge of the deal said on Thursday.
Akruti City, Omaxe, Sobha Developers, among other property developers, are pledging shares with lenders to provide additional security, apart from hypothecating properties to borrow funds, according to information submitted to the stock exchanges. Promoters of Akruti, Omaxe and Sobha have pledged their shares with Indiabulls Financial Services, financiers like Dubai-based BankSarasin & Co and Credit Suisse as a liquid security for loans against properties.
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
China's rapid economic growth will continue to support its people to accumulate wealth.
Mutual fund houses have been on an equity buying spree in the past three months as they have invested a net amount of Rs 55,000 crore in them between January and March 2023. The number is more than double the amount deployed in the preceding three months (October to December), signalling improved valuations and favourable economic indicators. The valuations, which had peaked in October 2021, returned to its long-term average in March 2023.
Nike Inc, Adidas AG and other companies may cut their spending on sports sponsorships after the unrelenting media coverage of pro golfer Tiger Woods' marital infidelity, a Credit Suisse analyst said on Wednesday. Omar Saad said in a research note that Nike and other companies are being forced to rethink the effectiveness of the vast sums of money they spend on individual and team sponsorships.
International brokerages, especially those which have made recent entry into the domestic market, are lining up to acquire the institutional broking business of the city-based Brics Securities.
ITC Infotech, an IT services firm and a wholly owned subsidiary of tobacco-to-hotels conglomerate ITC Group, has acquired New York-headquartered Pyxis Solutions - a provider of quality assurance and testing services - for $25 million (around Rs 105 crore). This is its first all-cash acquisition in the last eight years, funded through internal accruals.
Making a presentation on Indian Real Estate Sector: Slumdog or Millionaire at an event hosted by the Observer Research Foundation, Sameer Nayar, managing director and head of real estate (Asia Pacific), Credit Suisse, said that land use laws in India are the most antiquated.
According to the annual Hedge Fund Investor Survey, amid the rising optimism about the growth of hedge fund industry, assets are forecast to rise by 25 per cent this year.
Finance -- the most battered sector by the global meltdown -- is making a strong comeback.
According to the Credit Suisse Global Wealth Report published for the first time, the total wealth of India has trebled in a decade to $3.5 trillion. By 2015, the country's wealth could nearly double to $6.4 trillion.
The New-York based Goldman Sachs, one of the world's oldest and largest investment banking firms, plans to enter the buoyant mutual fund business in India.
A consortium of Indian and Abu Dhabi investors, which is believed to include steel czar Lakshmi Mittal, is planning to bid for UK property company British Land, says a media report.
The initial public offer of Adani Power, which closed today, got subscribed over 14 times with most of the bids coming in from institutional investors.
The Ruias have received overwhelming response from international banks for funding of their proposed bid to pick up Hutchison's 67 per cent equity stake in Hutchison-Essar Ltd, in which they hold the remaining stake.
Food delivery platform Zomato has filed preliminary papers with capital market regulator Securities and Exchange Board of India (Sebi) to raise Rs 8,250 crore through an initial share-sale.
The report also compares the entertainment and media market of India with China. It clearly states that the industry in India has grown because of a benign regulatory environment.
Over the next three to five years, according to a Credit Suisse report, these cheap laptops and netbooks could add 170-250 million units globally to the current figure of around 300 million units. Netbooks sales, alone, could be 25 million units in 2009.
The marginal rise in June headline inflation to 4.9 per cent may be a precursor to a pronounced increase in the coming months and RBI is unlikely to cut rates at the forthcoming policy meet on July 30, say analysts.
The whopping numbers are just a continuation of a strained labor market as employers in America slashed 5,33,000 jobs in the month of November, the maximum downsizing in 34 years. Right from telecom giant AT&T to battered banking major Credit Suisse to steel maker ArcelorMittal, the layoffs are spread across the sectors, amid the worst financial turmoil since the Great Depression of 1930s.
According to the Credit Suisse Global Wealth report, India has 1,800 ultra high net worth individuals -- 11th largest group globally, while the United States tops the chart with 62,800 UHNW adults (equivalent to 49 per cent of the global total).
Advertising growth in emerging markets such as China remained robust this year and would help offset any slowdown in developed countries, according to Miles Young, who takes over as chief executive of the Ogilvy Group in January.
The offering comprises secondary sale of 13.68 million shares, constituting 27.3 per cent stake.
According to a Credit Suisse report, the steep Sensex fall has validated two fears: (1) The Indian market is linked to global developments; and (2) Foreign flows are the biggest drivers of the market.
'There is no need for suspicion regarding the US-India civil nuclear agreement,' US Ambassador David C Mulford tells the Rediff Chat.
Global investors appear to be 'most optimistic' on Indian market after domestic companies showed consistent long term improvement in profits since 1988, according to a survey by global merchant banking major Credit Suisse First Boston.
Sandeep Murthy, the 30-year-old CEO of Cleartrip.com, shares the story of his career success and some career advice.
Nimesh Kampani, chairman of the JM Financial group, talks to Business Standard on what led to the parting of ways with decade-old foreign partner Morgan Stanley.
The Madras high court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the high court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the high court as the liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts. The "respondent company (SpiceJet) has miserably failed to satisfy the three pronged test suggested by the Supreme Court in Mathusudan Govardhandas & Co v Madhu Woollen Industries (P) Ltd, and hence had rendered itself liable to be wound up for its inability to pay its debts under Section 433 (e) of the Companies Act 1956," Justice R Subramanian said in his order on Monday and directed the private carrier be wound up and the official liquidator take over its assets.
Say their aggregate borrowings were "well within the norms"
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