Total bond issuance and bank loans by national, regional, and local governments is estimated to hit $4.8 trillion in 2005, three per cent higher than in 2004, according to Standard & Poor’s in its first global survey of government borrowing. The report is entitled, “Global Government Borrowing to Hit 4.8 Trillion In 2005, As Credit Quality Continues to Improve.” Adjusting for the weakness of the US dollar, however, global issuance volumes should fall slightly, said the ratings agency. This would be consistent with the mildly positive trend in government ratings worldwide that Standard & Poor’s expects to continue at least through the first half of 2005. Standard & Poor’s estimates that global borrowing by sovereigns alone will reach $4.1 trillion in 2005, up five per cent from $4.0 trillion in 2004. The world’s largest issuer will remain Japan at $1.7 trillion. Its 2005 borrowing requirement will rise eight per cent from 2004, as the Japanese government turns more to market sources for its funding requirements. On the other hand, the second largest global borrower, the US government, is expected to see its borrowing requirement fall by just less than six per cent to $806bn, as the result of a modest fiscal adjustment.
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.