Energy Revolution: Fracking Is Out, Renewables Are In The coal and oil and gas (OG) industries are experiencing a period of upheaval. Demand for cleaner, low-carbon electricity is driving a switch away from coal and oil to natural gas and renewable energy. At the same time, the fast-growing shale industry – which uses

EMIR Refit Is Live – What’s Changed? The final text of the revisions to the European Market Infrastructure Regulation (EMIR), known as EMIR Refit, was published in May. The legislation is now live, and firms must be fully compliant with its various provisions. EMIR Refit made some important changes to the original regulation, many of

Technology is touching every aspect of finance, transforming decades-old practices and redefining core tasks. In our Disruption in Financial Services series, we explore how new tools and technologies are changing the business of finance and reshaping how financial professionals do their jobs. Disruption in Financial Services: Big Tech’s Move into Finance Is Raising Regulatory Hackles

Technology is touching every aspect of finance, transforming decades-old practices and redefining core tasks. In our new series, Disruption in Financial Services, we explore how new tools and technologies are changing the business of finance and reshaping how financial professionals do their jobs. Disruption in Financial Services Fintech Is Shaking Up The Sleepy World

What’s An Unprofitable Business Worth? Valuing High-Growth, Loss-Making Companies Recent IPOs by high-growth, loss-making businesses such as Lyft and Uber have highlighted a sharp divide among investors over a simple question: What is a company worth? For traditional or value investors, a company’s value is a function of its current and historical

Goodbye LIBOR: Industry Planning For The End of LIBOR Accelerates As regulators escalate their calls for financial firms to plan for the discontinuation of LIBOR, industry bodies are working to ensure that the transition to a post-LIBOR world is smooth. At the center of efforts in derivatives markets is the International Swaps and Derivatives Association

Battered by Uncertainty, Global Bond Markets Are Acting Strangely In the US, yields on speculative-grade corporate bonds fell below yields on speculative-grade corporate loans, despite loans’ higher standing in the capital structure. Meanwhile, in Europe, corporate bond issuers successfully raised bonds at negative yields, upending the normal functioning of capital markets. Why are global bond

M&A Activity Heats Up But Antitrust Regulators Are Wary Competition regulators in the UK rejected a proposed merger between grocery chains Sainsbury’s and Asda, citing potential harm to shoppers in the form of higher prices and less choice. Meanwhile, in the US, the Department of Justice appears poised to reject a merger between wireless networks

Tech IPO rush tests market appetite for unprofitable companies This year promises to offer a flurry of tech unicorn listings – that is, the initial public offerings (IPOs) of privately held technology companies with valuations over $1 billion. Ride-hailing company Lyft and electronic bond-trading platform TradeWeb both listed in late March at $1 billion-plus

Optimism or complacency: The Fed’s Basel capital buffer decision Under US President Donald Trump, federal agencies have implemented a broad program of financial deregulation. New measures have limited the number of banks deemed systemically important and freed the de-designated banks from the need to undergo stress tests or submit insolvency plans. The Federal Reserve has