UK: BRITISH BANKS VS NEW TECHNOLOGY

Article Abstract:

The investment bank Credit Suisse First Boston (CSFB) has stated in its report called "Internet vs Inertia" that British banks profitability will fall by 25%. CSFB report has attempted to quantify the impact the new technology such as the Internet and other new delivery services for the financial services would have on the banking sector in the UK. The group believes there will be dramatic erosion with equity currently at 22% falling to 15-16%, resulting in profits much lower than the record levels of 1999.

United Kingdom, Sales, profits & dividends, Forecasts, trends, outlooks, Investment Banking, Investment banks, Forecasts and trends

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EUROPE: SURVEY OF MOST FAVOURED BANKS

Article Abstract:

A survey conducted by Reuters into the most favoured banks in Europe has revealed that Merrill Lynch, the US based investment bank, is the most favoured among corporate customers. The survey involved finance directors from Europe's largest companies and was conducted during 1999. The survey also revealed that Goldman Sachs is considered to be the best research house, while Morgan Stanley Dean Witter and Fidelity were considered to be the best fund management groups.

Securities Dealers, Labor force information, European Union, Unit Trusts (Oil, etc), Debt & Equity Securities, Business Credit Institutions, Other Financial Vehicles, All Other Nondepository Credit Intermediation, Human resource management, Commercial finance companies, Investment companies, Securities industry, Unit investment trusts, Fidelity Corp., Goldman Sachs and Co., Merrill Lynch and Company Inc., Morgan Stanley Dean Witter & Co.

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How the ECB heeded Corporal Jones's advice

Article Abstract:

The European Central Bank has decided to leave interest rates unchanged, despite a worsening business environment in Germany and indications of a possible recession in the UK. Interest rates in Europe now need to drop rapidly, but it seems unlikely that the European Central Bank will be willing to cut by more than 25 basis points in the near future.

Europe, Germany, DEPOSITORY INSTITUTIONS, Services information, Analysis, Economic aspects, Services, Brief Article, Column, Interest rates

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