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The US has already faced its black swan event. A roughly 15 per cent slump in house prices across the country since the boom ended is something that many senior [...]

The equation was once simple: the more debt you took on, the wealthier you became. Home owners to hedge fund managers and private equity barons got rich quick by gearing [...]

You've got to hand it to the private equity barons. The outlook for returns on their early 2007 deal vintage is grim. They overpaid for many businesses during the boom. [...]

Any number of recounts is not going to change the picture of who emerged best from the Wall Street rout of 2007. With all the results now in - including [...]

Any number of recounts is not going to change the picture of who emerged best from the Wall Street rout of 2007. With all the results now in - including [...]

Avisit to the Ngorongoro conservation area in north Tanzania without entering the crater feels like travelling to Bejing and ignoring the Forbidden City. This enclosed space, which is 610m deep [...]

Turmoil in the global markets leaves a gaping financial hole. A sovereign wealth fund piles in at short notice to fill the gap, ending up with a 10 per cent [...]

Talk about a masochistic streak. The world's bulging sovereign wealth funds are not only willing to brave the Washington publicity circus when they buy into US companies. They also seem [...]

Talk about a masochistic streak. The world's bulging sovereign wealth funds are not only willing to brave the Washington publicity circus when they buy into US companies. They also seem [...]

Just when you thought it was safe to go back in the water . . . Those who believed the crisis in the credit markets was over, and that life [...]

Anybody returning to New York this week after an extended summer holiday could be forgiven for thinking the boom never ended. Goldman Sachs churned out a 79 per cent surge [...]

In 2005 Ben Bernanke, now chairman of the Federal Reserve, did his bit to bolster the cosy American myth that house prices were a one-way bet. According to the New [...]

In 2005 Ben Bernanke, now chairman of the Federal Reserve, did his bit to bolster the cosy American myth that house prices were a one-way bet. According to the New [...]

It is every trustee's nightmare: a hedge fund blows up, leaving the endowment or pension pool they oversee splashed across the newspapers, implicitly accused of squandering millions of dollars on [...]

The two Kalashnikov-toting soldiers are a reminder that visiting Rwanda's mountain gorillas is no ordinary experience. In 1999 eight tourists were murdered by Hutu rebels just across the border in [...]

Is it time for a spot of rebranding? After years of preaching the benefits of private ownership, the buy-out industry is suddenly queuing up for a taste of the limelight. [...]

In a 2004 speech in New York, Henry Kravis warned hedge funds against trying to eat private equity's lunch by competing to acquire big companies. Three years later, if anything, [...]

Every four years, nearly half of Americans do not bother to take part in presidential elections. Investors are often just as lazy. But periodically, Wall Street gives them a stark [...]

It was the year private equity turned into a record machine. In 2006, the value of US buyouts hit Dollars 410bn, according to Dealogic, more than twice the previous year's [...]

Didn't property-flipping die a painful death when the red-hot real estate markets of Florida and Nevada ran out of steam? Not, it seems, when it comes to office skyscrapers. Only [...]

NEW YORK -- Microsoft's next big challenge is to address the threat posed by advertising-supported business models such as Google's, Steve Ballmer, chief executive, signalled yesterday, as the software launched [...]

It was the year private equity turned into a record machine. In 2006, the value of US buy-outs hit Dollars 410bn according to Dealogic, more than twice last year's level. [...]

A name is just a name. But hedge funds have shown a tendency to live up to their billing. Pirate Capital, for example, hardly screams stability. Sure enough, it has [...]

A name is just a name. But hedge funds have shown a tendency to live up to their billing. Pirate Capital, for example, hardly screams stability. Sure enough, it has [...]

WALL STREET -- Is Wall Street lining up a clash of the titans? A view is developing that there is a serious disagreement between the equity and bond markets over [...]

Canadian-born peer, a clutch of media magnates, a former US secretary of state, and an ex-chairman of the Securities and Exchange Commission: the fight for control of Hollinger, the newspaper [...]

Scott takes post at Yell Bob Scott, former chief executive of insurance group CGNU, is to become non-executive chairman of Yell, the directories business which is preparing to float later [...]

Bob the Builder and Thomas the Tank Engine, two of the UK's favourite children's characters, could come under the same roof after it emerged that HIT Entertainment was in preliminary [...]

Capital and GWR in talks The first signs of consolidation in the radio sector after the draft Communications Bill emerged yesterday with news that Capital Radio and GWR, the owner [...]

Microsoft, the world's largest software company, is in final stages of negotiation to acquire NavisionDamgaard, the Danish enterprise software group. The move follows Microsoft's Dollars 1.1bn acquisition of Great Plains [...]

The prospect of more changes at the top of Marconi surfaced yesterday as it emerged that lenders want a restructuring specialist appointed to strengthen Marconi's management. Insiders at Marconi said [...]

DANIEL -- Marconi should have informed investors earlier of the sharp deterioration in trading that brought the telecommunications equipment manufacturer to its knees last year, a draft report into the [...]

Ebay yesterday underlined its dominance of online auctions in the UK by publishing figures for the first time that show it dwarfs rival QXL Ricardo. The US-based group sold goods [...]

Carlyle Group and Apax Partners, the private equity groups, are understood to have joined forces to bid for Energis, the telecoms carrier that has been fighting to stave off collapse [...]

Energis's bank debt is understood to have climbed sharply since the telecoms carrier's financial crisis erupted in January, and could reach as much as Pounds 700m by the end of [...]

The Montgomery Street Starbucks in San Francisco looks like any other such outlet in Tokyo, New York or London. It has armchairs and tables, the customary range of coffees, ordinary [...]

Durlacher, the technology-focused investment bank which was one of the stars of the internet boom, has appointed Christopher Stainforth as its new chief executive. The move - which comes after [...]

On January 30 2000 Sir Christopher Gent and Jean-Marie Messier looked unassailable as the kings of the new economy in Europe. The two wallowed in publicity as Vodafone, the UK [...]

MM0 slides on sector woes Shares in the mobile operator MM0 hit a record low yesterday as the European telecom-munications sector was caught in the down-draught from Vodafone's spectacular share [...]

Lady Dunn yesterday stepped down from the board of Marconi, citing 'a potential conflict of interest' as the stricken telecommunications equipment group enters a new phase in its refinancing efforts. [...]

Shares in mobile operator MM0 hit a record low yesterday as the European telecommunications sector was caught in the down-draft from Vodafone's spectacular share price collapse this week. As Vodafone [...]

Sportsworld Media, the television production and distribution company that partly owns Popstars, yesterday went into receivership after failing to find a buyer. The company, whose former directors included internet entrepreneur [...]

The board of Marconi, the struggling telecommunications equipment manufacturer, met on Tuesday to agree a revised business plan it hopes will form a basis for fresh restructuring talks. The plan [...]

Vodafone shares fell to a three-and-a-half year low yesterday in heavy trading as investors became increasingly nervous about the mobile phone operator's prospects. ABN Amro lowered its growth expectations, arguing [...]

DigiPlex, the pan-European internet hotel operator, is understood to be on the point of filing for receivership after burning through most of the Euros 380m (Pounds 235m) of funding raised [...]

A rare addition to the dwindling club of internet millionaires was made yesterday, when Vimal Khosla, a 52-year-old former Air India salesman, sold his travel business to Last-minute.com for up [...]

Energis, the struggling telecommunications company, could fetch between Pounds 600m and Pounds 1bn when its assets are sold in the next few weeks, according to preliminary expressions of interest from [...]

The sheer scale of this week's Dollars 11bn (Pounds 7.7bn) write-down by Japanese telecommunications company NTT, mainly on its overseas acquisitions, has again turned the spotlight on whether Vodafone can [...]

Energis, the cash-strapped UK telecommunications company, yesterday said it would let its lossmaking Swiss telecoms operation go into insolvency after failing to find a buyer. The business - which provides [...]