business / Top Stories
Boutiques grab M&A market share from mega-firmsPHILADELPHIA/NEW YORK (Reuters) -
wall street's biggest firms have seen their overall share of dealmaking erode over the past decade as boutique and mid-sized firms lure away rainmakers and provide niche expertise.
Reuters Friday, September 25, 2009G-20 Declared Top Global Economic CouncilLeaders Recognize Growing Influence of Developing Nations by Dethroning G-8; Near Agreement on Banker Pay Limits
CBS News Friday, September 25, 2009Americans tame their wanderlustAmericans have tamed their wanderlust during this recession, according to the latest data released by the U.S. Census Bureau. Only about 2.4% of Americans moved from state to state in 2008, down from 2.5% the previous year.
CNN Friday, September 25, 2009Health reform you can count onThe cacophony of the health care debate, already loud, is likely to become deafening as autumn progresses.
CNN Friday, September 25, 2009PHOTOS: Strange and Bizarre StructuresArchitects push the bounds of sanity with these bizarre and wild structures.
ABC News Friday, September 25, 2009Chrysler: Check engine nowThree months after coming through a federally-financed bankruptcy, the new Chrysler Group still faces serious trouble with no quick solution in sight.
CNN Friday, September 25, 2009Stocks slide for 2nd dayStocks slumped Thursday, falling for the second straight session, as a surprise drop in existing home sales and tumbling commodity prices gave investors a reason to sell into a rally that pushed the major gauges to one-year highs.
CNN Friday, September 25, 2009U.S. large-loan bank losses triple to $53 billion: regulators(Reuters) - U.S. regulators say that the level of losses from syndicated loans facing banks and other financial institutions tripled to $53 billion in 2009, due to poor underwriting standards and the continuing weakness in economic conditions.
Reuters Friday, September 25, 2009Information technology and its impact on stock returns and trading volumeThis study investigates the impact of information technology on common stock returns and trading volume. By focusing mainly on the peak
period of the hi-tech phenomenon, the findings imply that the market response to website launching is positive. During the event day and the two preceding days, the abnormal stock return and the abnormal trading volume both are positive and statistically significant. In particular, the impact is stronger for non-US firms than for domestic companies, for initial rather than subsequent site launches, for those sites that are launched on Monday rather than on other days of the week, and for innovative industries such as electronics and computers. As
expected, while the launch of a website had a stronger effect at the beginning of the hi-tech phenomenon, the impact has diminished in later years. Copyright © 2009 John Wiley & Sons, Ltd.
Wiley InterScience Friday, September 25, 2009Co-movements between US and UK stock prices: the role of time-varying conditional correlationsWe provide evidence on the nature of co-movement in monthly US and UK stock returns by investigating time-varying correlations in returns since 1980. There is a marked increase in correlations between these markets around 2000, which we attribute to globalization and model with a time-varying smooth transition conditional correlation (STCC) GARCH specification. A double transition correlation model with time and US stock price volatility indicates that correlations not only increase over time but also during periods of high volatility. The STCC models perform well in comparison with constant and dynamic conditional correlation models in terms of both statistical and economic criteria, but we demonstrate that an investor will gain little from portfolio diversification across these two important markets. Copyright © 2009 John Wiley & Sons, Ltd.
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