How far will run on non-banks spread? 3 Sep 2007 As yet, the credit squeeze is just a headache for banks. But a loss of confidence is creating real losses in nonbank finance. The banks' headache could get larger, since they have $500bn of deals to place. But the great danger is that fear hits the financial centre.
WestLB’s fate hinges on politics, not finance 3 Sep 2007 The German bank s owners have bailed it out before. Now, after a E604m trading loss, they have the chance to put it out of its misery. The state government has three options, all compromised by political considerations.
Sarkozy prevails in GdF-Suez merger 3 Sep 2007 The French president has prevailed over the Suez chairman, and the French utility will shed its water assets before it merges with GdF. The French state will keep a controlling 40% stake in the merged E90bn entity. It looks like Sarko has borrowed from Putin s book.