Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
Nothing is Risk Free: Reaction to Visa (V) and MasterCard (MA) earnings reports
November 7, 2009
2nd UPDATE: Visa Swings To 4Q Pft; Announces $1B Shr Buyback | online.wsj.com
Very real risks to both Visa and MasterCard are often glossed over by analysts. It is flawed to assume that their business is immutable and “risk free.” Both companies need to anticipate new market entrants and continue to evolve and innovate. Very real competitive threats abound.
November 6, 2009
Swiss Banks Lose European Clients | online.wsj.com
The article is correct. Money is flowing to Singapore. Not only money from Switzerland, but also money from China, Russia, and Indonesia. People do not trust their governments, and they are putting their trust in the benevolent dictator in Singapore. Singapore's government can stand up to the pressure put on it by other governments. It is a cross roads nation, and they have done a very good job...
Expect More to Come - Acquisition of "Captive" Client Centers by BPO Players
November 5, 2009
Cognizant buys UBS back office provider for $75 mln | www.reuters.com
Cognizant acquired UBS’ Indian Subsidiary for $75 million - the former supports UBS around the globe with Knowledge Process Outsourcing (KPO), Business Process Outsourcing (BPO) and IT Outsourcing (ITO) and employs 2,000 people in India.As part of the deal, UBS signed a 5 year $442 million service agreement with Cognizant.This "Captive Spin-Off" Approach is tried and true approach in outsourcingand...
AN INCLUSIVE FINANCIAL SYSTEM TO FIGHT THE WORLD ECONOMIC CRISIS
November 5, 2009
Social enterprise in microfinance industry: what does it mean? Microfinance Gateway, September 2008. | zunia.org
The question is: could we say that social performance management is nothing else than the achievement of a micro finance institution social return on investment? Translating this concept into macro level, can we say that social performance in microfinance means the achievement of a country’s inclusive financial system?
Mitchell International Industry Trends Report | Q4 2009 - Canada Numbers
November 2, 2009
Mitchell International Industry Trends Report | Q4 2009 | /www.mitchell.com/mcms/content/pub/Newsletters/ITR_vol-9-no-4-fall-2009-2106.pdf
This report has some very good data on the Canadian Collision Repair Market.
November 2, 2009
Is the Recovery Real? | www.margolisadvisory.com
Third quarter growth was strong. Much of the strength was influenced by government stimulus. The "new normal" environment will be characterized by muted growth.
Japan Consumer Finance Regulation Faces Final Hurdle
November 1, 2009
Govt May Backtrack On Tighter Moneylender Regulations | www.nni.nikkei.co.jp
A committee of policy makers assigned to the Financial Services Agency, Consumer Affairs Ministry and Ministry of Justice will convene this month to assess the impact of Revisions to the Money Lending Business Law on the consumer credit industry in Japan. The committee will either recommend to proceed with full implementation of interest rate harmonization and quantitative lending restrictions...
Next Big Thing - Service Outsourcing In China
October 31, 2009
China Will Sustain Growth Rebound, Central Bank Says | www.bloomberg.com
The next push by the government is "Service Outsourcing" which aims to:1) Make use of the boom in white collar labor - University graduates in China ballooned from 600k per year in 1998 to more than 7.5 MM in 2009;2) Increase competitiveness and transparancy by encouraging use of third-party outsourcers for Chinese businesses and government agencies;3) Limit dependency on manufacturing to power the...
JAL Downgraded on Transport Minister Comments
October 31, 2009
R&I Cuts JAL's Credit Rating 3 Notches On Turnaround Concerns | www.nni.nikkei.co.jp
Domestic rating agency R&I downgraded the corporate credit rating for Japan Airlines Corporation to CCC junk grade amid reports that Transport Minister Hon. Seiji Maehara may seek special legislation designating the company as "effectively bankrupt" in order to reduce pension payouts, underscoring the threat that unrealistic and inconsistent political directives pose to nation's flagship c...
JAL Rehabilitation Requires a Political Decision
October 28, 2009
MARKET SCRAMBLE: JAL Shareholders Get No Respect -- Again | www.nni.nikkei.co.jp
Transport Minister Hon. Seiji Maehara wasted no time stepping between troubled carrier Japan Airlines Corporation and its three main creditor megabanks, but the latest rehabilitation plan may require a major overhaul to address three main issues: personnel, pensions and profitability. A political decision must be made regarding which stakeholder group should enjoy the benefits of a massive...
November 6, 2009
Expect More to Come - Acquisition of "Captive" Client Centers by BPO Players
November 5, 2009
AN INCLUSIVE FINANCIAL SYSTEM TO FIGHT THE WORLD ECONOMIC CRISIS
November 5, 2009
Mitchell International Industry Trends Report | Q4 2009 - Canada Numbers
November 2, 2009
November 2, 2009
seekingalpha.com
uk.reuters.com
www.forbes.com
news.cnet.com
www.bloomberg.com
Swiss Private Banks Go Down Market as Crisis Destroys Wealth