Antony Currie has more than a decade of experience as a financial journalist, having worked with Euromoney since 1996, most recently as a US editor. He has worked on assignments in the major financial centres of Europe and the US and written stories on capital markets, global economies and the investment banking industry. He holds a bachelor's degree in German language and literature and a master's degree in politics and international relations from the University of Bristol. Follow Antony on Twitter @AntonyMCurrie
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Ares Capital’s takeover of under-fire rival American Capital may well bring more fees, lower funding costs and better returns. But the market for lending to mid-market companies has become tougher even as banks have retreated. The complexity of the tie-up doesn’t help, either.
Only 66 pct backed how the Wall Street firm compensates its bosses. A $5 bln fine over dodgy mortgages didn’t help. But Goldman is also one of the few banks not to use long-term incentives in determining salary and bonus. Doing so would be a cheap way to win investor support.
The Wall Street firm’s analysts moved the carmaker to “buy” just before its bankers took a role in a $1.7 bln stock sale. It smells bad - and watchdogs will surely take a look - but there are plenty of mitigating factors. This may just be Chinese walls working as intended.
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