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Wednesday, 20 February 2019

Markets

UBS

UBS changes pay for 10,000 staff

11 February 2019

UBS has changed the pay structure for about 10,000 staff, scrapping variable bonuses and instead giving them a fixed annual award, which the bank said is more transparent and reduces pay uncertainty.

Taiwan offshore bond ETFs surge on Formosa limits

Taiwan offshore bond ETFs surge on Formosa limits

11 February 2019

Taiwanese life insurers have steered around curbs on the Formosa bond market by pouring money into Taiwan-listed exchange-traded funds focused on foreign bonds.

Bill Gross

MOVES-Veteran bond manager Gross to retire from Janus Henderson

04 February 2019

Veteran bond manager Bill Gross, who co-founded Pimco in 1971, will retire from Janus Henderson to focus on managing his personal assets and charitable foundation, Janus Henderson said on Monday.

Employees of Pacific Gas & Electric work in the aftermath of the Camp Fire in Paradise

PG&E seeks to put out fires in court

01 February 2019

California utility PG&E filed the largest bankruptcy case in more than a decade, but rather than scurry away, some of its largest creditors continued to build positions throughout its capital structure.

Venezuela faces huge restructuring challenge

IFR 2269 2 February to 8 February 2019

Sorting out Venezuela’s financial situation is likely to require the most complicated debt restructuring ever, according to a former US Treasury official who represented the country at the International Monetary Fund for three years.

Hot coal

Bondholders urged to boycott carbon-heavy issuers

31 January 2019

Bondholders who are part of institutions with detailed policies committed to addressing climate change are reluctant to use their ultimate sanction and stop financing debt issues by companies causing damage to the environment.

Fitch Ratings headquarters in New York

Fitch launches European high-yield index

18 January 2019

Fitch launched its European high-yield index report on Thursday, which expands its research offerings in the leveraged finance sector.