Christopher Spink covers financial restructuring across Europe, as assistant editor for International Financing Review. He is currently focusing on the Eurozone crisis as well as regulatory developments as part of IFR’s People & Markets team. Previously he wrote about M&A for another Thomson Reuters title Acquisitions Monthly. During his 15 year career Chris has also covered AIM companies and venture capital backed businesses, as head of research and deputy editor at Growth Company Investor. He also wrote best-selling book, "How to invest when you don’t have any money", when he worked at investment website The Motley Fool.
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Equities have been the main firing engine for investment banks in the first half of the year, offsetting declining underwriting and fixed income businesses, but volatility in world markets this past week could throw a spanner in the works.
A recent ruling at the World Bank’s International Centre for the Settlement of Investment Disputes may make it more complicated for Russia to ensure that the US$3bn Ukraine bond it holds is paid in full.
Barclays’ new executive chairman John McFarlane has admitted that the firm is no longer able to compete globally with the five largest US investment banks, in comments that are likely to precede deep cuts to the division.