Shaky ground
Article Abstract:
The world's most powerful bankers and politicians gathered in Washington to discuss ways of preventing a global recession. Japan Leasing, with debts of almost 2.2 tril yen, declared bankruptcy. US Federal Reserve Board chief Alan Greenspan coordinated a $3.5 bil rescue for Long-Term Capital Management. Shares of Citibank, Barclays, Merrill Lynch and Morgan Stanley lost half of their value. These losses demonstrate the fragile state of the world's banking system.
Publication Name: The Bulletin with Newsweek
Subject: News, opinion and commentary
ISSN: 1440-7485
Year: 1998
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The bitten bite back
Article Abstract:
The year 1998 was dominated by corporate mergers. Although much of these mergers benefited investors, history suggests that mergers are a serious threat to public wealth. Despite the fact that Australian companies are not as merger-happy as companies in the US and Britain, mergers between Dutsche Bank and Bankers Trust, Exxon and Mobil, and others will directly affect the Australian economy.
Publication Name: The Bulletin with Newsweek
Subject: News, opinion and commentary
ISSN: 1440-7485
Year: 1998
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