Defaults on European corporate bonds rose by roughly 60 per cent in 2002, making it a watershed year for defaults in Europe, according to a new report by Moody’s. ‘Europe has seen a dramatic increase in the overall default rate in 2002, especially in the speculative-grade arena,’ said Moody’s Vice President and Senior Analyst Praveen Varma. The overall default rate increased sharply from 1.8 per cent in 2001 to 2.9 per cent in 2002, a proportional increase of roughly 60 per cent in one year. The rise in the speculative-grade default rate was even larger, soaring to over 20 per cent for 2002 from 12.7 per cent in 2001.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.