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PayPal swipes at banks with card offering

Thu, 17 May 2012 12:16:00 GMT

Through a partnership with MasterCard, PayPal has launched a new payment card, enabling customers to have instant access to their PayPal account balance anywhere that MasterCard is accepted globally. This means it can be used at high street POS terminals and ATMs in over 32m locations – ‘tap and go’ payments up to £15 can also be made. The prepaid card can even be used online at websites that don’t have a PayPal functionality.

Bizarre Coinage Act – don’t be caught out

Thu, 17 May 2012 10:45:00 GMT

The penny dropped too late for a disgruntled customer after he broke the law paying his accountant £804 worth in copper coins.

Ready… SEPA… go!

Thu, 17 May 2012 09:14:00 GMT

There is a general rule in the treasury world: where corporates go, banks soon follow. But this is not the case with SEPA, the standardised payments system for the euro. Indeed it is quite the opposite. Corporates are now scrambling after banks as they race to implement SEPA migration programmes before the looming deadline.

Why BCP is worth the effort (and money)

Thu, 17 May 2012 09:06:00 GMT

Rather than dealing with disturbances as they occur, the focus of a business continuity plan or business continuity planning (BCP) is to ensure there are no disruptions or ‘breaks’ in operations. Do corporates realise the business strengths this can bring?

Bankers win £42m bonus claim – phew!

Thu, 10 May 2012 11:35:00 GMT

We can all breathe a deep sigh of relief. More than 100 Commerzbank bankers have won their claim to £42m in unpaid bonuses in the High Court, London. The bonuses were written into contracts the bankers signed with Dresdner Kleinwort, which was subsequently taken over by Commerzbank, in August 2008. Many of the claimants are expected to pocket six-figure sums, and at least five will come away with pay packets in excess of £1m.

Iosco asks the ‘real questions’ on MMF reforms

Thu, 10 May 2012 11:16:00 GMT

The market continues to wait with bated breath for the next regulatory axe to fall on the money market fund (MMF) industry. While the potential reforms have been widely publicised, what do they really mean?

Surfing the Schuldschein

Thu, 10 May 2012 11:05:00 GMT

’Inventive’ is the order of the day when it comes to funding the business right now. And the private placement market in Germany, known as the Schuldschein market, has emerged as a popular target for non-German companies as they seek to diversify their funding sources.

It’s a scream

Thu, 03 May 2012 10:59:00 GMT

Edvard Munch's picture ‘The Scream’ fetched a record $119,922,500 when it was sold at auction on Wednesday. The image, which depicts a man with a misshapen head hollering under a sky streaked with russet reds and oranges, came under the hammer at Sotheby’s in New York.

Redback rises in Europe

Thu, 03 May 2012 10:49:00 GMT

We all know that Hong Kong is one of China’s largest trading partners. What is less well-known is that a growing number (47%) of RMB transactions are initiated in Europe. In fact, according to SWIFT’s RMB Tracker – if you leave Hong Kong out of the equation – the value of payments between Europe and China has overtaken that between the Asia Pacific region and China.

An Olympic payments dash

Thu, 03 May 2012 10:35:00 GMT

On your marks... the technology sprint is on and providers are anxious to achieve first mover advantage in the mobile payments arena. Creating the most popular payment method for consumers is the end goal but the road to victory is not always easy.

The art of investing in your supply chain

Thu, 03 May 2012 09:40:00 GMT

The troubled global economy is having a transformative effect on working capital optimisation (WCO) and the financial supply chain, according to a leading expert on cash management.

How not to fire someone. Aviva’s blunder goes viral

Thu, 26 Apr 2012 10:39:00 GMT

According to its website, Aviva Investors prides itself in offering excellent global asset management services. But when it comes to staff management, the investment branch of the world’s sixth largest insurer takes a slightly different approach.

Time to exercise some liability management?

Thu, 26 Apr 2012 08:43:00 GMT

European corporates are being presented with an opportunity. Low interest rates, strong investor demand and robust cash balances have combined to create an environment conducive towards debt reduction, or ‘liability management exercises’ as they are often known in the banking sector. But how long will such an opening last?

Why IT departments get a bad name

Thu, 26 Apr 2012 08:36:00 GMT

A global study that surveyed more than a thousand IT professionals in the EMEA region has found that over the past 12 months more than one in five enterprises has experienced a security breach and one in ten has suffered a breach of its privacy. The report also found that nearly half of those surveyed (45%) said their enterprises had either delayed or even missed an opportunity to reduce costs as a result of an IT-related problem. Again, 50% of respondents said that a shortage of IT personnel had had a detrimental effect on their business.

Your operating model could be your worst enemy

Thu, 26 Apr 2012 08:18:00 GMT

A business plan is important, but reviewing and adapting it is essential. Today, corporates are obliged to re-evaluate existing processes and shake off operational ‘norms’ in order to survive. But are they willing?

Achieving best practice cash management in Africa

Thu, 19 Apr 2012 16:11:00 GMT

Ten years ago, establishing a corporate treasury hub in Africa would have been a relatively unusual move for a Western multinational. But just as Asia has seen an influx of treasury functions and personnel, Africa is slowly but surely becoming an attractive proposition for the corporate treasurer. In this Business Briefing, we look at the evolution of cash management in the African landscape over the last decade. We also look at the importance of building the right bank relationships in the region.

Card evolution: the future is green

Thu, 19 Apr 2012 11:25:00 GMT

Prior to the 2008 slump, going green was a popular corporate agenda item. Post-recession, being aware of the environment is still deemed necessary but it doesn’t rate as high on the priority list. Nevertheless, the developments in the commercial card and payments space have produced associated eco-benefits.

The pain in Spain

Thu, 19 Apr 2012 10:44:00 GMT

The storm clouds are gathering in the Eurozone again. This time Spain finds itself having to batten down the hatches. Its problems lie as much with the prospect of sluggish economic growth as they do with the onerous levels of national and private debt with which the country is laden. The markets worry that domestic demand is weak and the austerity measures introduced by the government have done little to lift the mood among consumers.

Adam Smith Awards 2012 – nominations close 30th April

Thu, 19 Apr 2012 10:31:00 GMT

Time is running out. It takes only 15 minutes to complete the online nomination form, so fill it in today and you could be attending the winners’ lunch at Plaisterers Hall in London on 14th June.

Superman cheque flies sky high at auction

Thu, 19 Apr 2012 10:25:00 GMT

To some, it might sound comical: an old $130 cheque has just been sold at an online auction for an extraordinary $160,000. But to others it just sounds like a great investment. After all, this isn’t any old cheque.

Recruitment in times of crisis

Wed, 18 Apr 2012 15:37:00 GMT

What is the treasury recruitment market looking like at the moment? Has the Eurozone crisis affected the number of opportunities available? Also, how have salaries been affected by the turmoil?

Hidden implications of China’s excessive reserves

Wed, 18 Apr 2012 15:02:00 GMT

China’s accumulation of foreign exchange reserves has received much attention and been cause for lively political debates over recent years. For various reasons, outlined in this article, China has accumulated the largest amount of foreign exchange reserves in the world, adding up to around 44% of the total size of its economy.

Outside the comfort zone

Wed, 18 Apr 2012 14:29:00 GMT

Once a treasurer, always a treasurer? Not necessarily – for some treasury professionals, a strategic move into a bank or consultancy firm can bring exciting challenges and development opportunities. But any career move involves an element of risk and treasurers contemplating such a move should be aware of the obstacles they are likely to encounter.

The Industry View, Mark Stockley, Blackrock

Wed, 18 Apr 2012 12:59:00 GMT

This month we talk to Mark Stockley, Managing Director, Head of International Cash Sales at BlackRock about the risks, rewards and best practices of the money market fund (MMF) industry.

Intelligent design: the evolution of TMS

Wed, 18 Apr 2012 12:25:00 GMT

The technology that is available to assist treasurers and help them carry out their role to the best of their ability has changed markedly over the past decade. Today, the treasury management system (TMS) provides tools to create efficiencies across the range of treasury disciplines, including cash and risk management. But where will technology go next and how can it provide even greater support to the treasurer?

Treasury in emerging markets: focus on Asia

Wed, 18 Apr 2012 12:12:00 GMT

From the BRICs to the CIVETs, companies are looking at the growth opportunities offered by emerging markets. Many Western multinationals are focusing their attention on Asia – but the disparate regulatory climates, currencies and languages within the region must be navigated. Meanwhile, Asian companies are also focused on international growth and many are setting their sights on Europe.

Investing cash across the liquidity spectrum

Wed, 18 Apr 2012 11:29:00 GMT

Whether you are looking for a traditional short-term money market fund or a fully customised solution, finding products that match your liquidity needs is crucial to any successful cash investment strategy. In this Product Profile, we look at a range of available liquidity products, how they differ in terms of risk, return and duration and how they tie in with cash segmentation. We also discuss the ways in which yield can be maximised for a given level of risk.

Is one credit rating enough?

Tue, 17 Apr 2012 15:59:00 GMT

Corporate bond issuances are becoming increasingly popular in light of the lending freeze by banks. But in 2012 how many credit ratings does a corporate need to attract investors?

Exploring opportunities for international trade

Tue, 17 Apr 2012 15:52:00 GMT

Lloyds Bank believes that the UK must put trade at the heart of its efforts to reduce the country’s budget deficit. The bank has a team of specialists, backed by a set of tried and tested solutions, which are helping corporates to tap new markets and position themselves for growth.

Shell: still leading the pack

Tue, 17 Apr 2012 15:45:00 GMT

In a rare opportunity to interview one of the best teams in the field, Treasury Today visits Andrew Longden and his treasury team at the Shell Centre in London. We discuss the team’s achievements and also the challenges a corporate giant faces in today’s world.

The 1973 oil crisis

Tue, 17 Apr 2012 15:00:00 GMT

In the early 1970s a series of events unfolded that would have a lasting effect on the price of crude oil. Not least among these were the Yom Kippur War and the end of the Bretton Woods agreement.

Short-term investing

Tue, 17 Apr 2012 14:36:00 GMT

Market stress began in 2007, claimed numerous casualties in 2008 and 2009 and continues unabated, despite the concerted efforts of regulators and monetary authorities. Since this time, corporate treasurers have faced increasing difficulty in balancing risk and return when dealing with treasury surpluses. In this article, we examine the available options.

Virtual accounts become a reality

Thu, 12 Apr 2012 11:23:00 GMT

As the role of the treasurer becomes more strategic, corporates are focusing on the accounts receivable (AR) process to improve operational efficiencies. Virtual account management is an advanced tool that provides the accuracy, visibility and automation required to optimise these transactions.

Salmon swims east

Thu, 12 Apr 2012 11:09:00 GMT

The TMS vendor recently established a hub in Bratislava, Slovakia. It is a move that will allow it to exploit the opportunities that are opening up in Eastern Europe.

Lap dancing stripped by financial crisis

Thu, 12 Apr 2012 11:04:00 GMT

The financial crisis has stripped the lap dancing industry of its standards, research has found. According to a study conducted by the University of Leeds, the decline in business since 2008 has led to club owners squeezing more money out of their dancers amid efforts to cover business overheads.

A new ‘expressway’ for renminbi liberalisation?

Thu, 12 Apr 2012 10:52:00 GMT

Chinese monetary authorities announced plans this week for the creation of a new cross-border payment system, in a move that promises to further liberalise the Asian Tiger’s burgeoning currency.

Another lost Hope in the financial markets

Thu, 05 Apr 2012 11:13:00 GMT

In one of many promotional tactics, Alex Hope’s PR agency lauded the zeal of the self-taught trader in an press release citing a phenomenal rise from humble beginnings earning £21,000 a year working in catering to “regularly trading millions” and raking in a six figure salary. “Alex is a name to watch out for in the City”, they said. The Financial Services Authority (FSA) would agree.

DCM: open for business

Thu, 05 Apr 2012 11:09:00 GMT

This year promises to be a bumper one for corporate debt issuance as companies look for alternatives to bank financing.

Cybercrime: is your payment service provider a weak link?

Thu, 05 Apr 2012 11:05:00 GMT

The latest hacking scandal to hit the business world has seen Global Payments, a credit and debit card transactions processor, reveal that 1.5m credit card numbers in the United States may have been stolen by hackers. The news highlights the growing danger of counterparty risk to corporates. Can companies trust their payment service providers (PSPs) to have the right security in place?

Renovating reconciliation: steps from STP to STR

Thu, 29 Mar 2012 10:35:00 GMT

Optimising treasury and shared service centre (SSC) processes is proving a constant battle for corporates. Can straight through reconciliation (STR) help the treasurer move beyond straight through processing (STP) to reach another level of efficiencies and improve working capital?

Don’t bank on risky women

Thu, 29 Mar 2012 10:26:00 GMT

The German central bank is quite fond of blaming feckless Greeks and lazy Italians for the Eurozone crisis. This week, however, the Bundesbank set its sights on another foe.

Is RMB appreciation coming to an end?

Thu, 29 Mar 2012 10:09:00 GMT

Murmurings by Chinese officials suggest that the appreciation of the national currency may be about to grind to a halt.

Treasury management ten years on: same old, same old

Thu, 29 Mar 2012 09:58:00 GMT

Ten years is a long time in treasury. What have been the major breakthroughs in the last decade? Try and think back to 2002. Companies were still recovering from the dot-com bubble; euro notes and coins had just been introduced; and acronyms such as CDS and CDO had yet to enter the lexicon of every treasury team, let alone the man on the street.

Middle East Benchmarking: iPad winner revealed

Mon, 26 Mar 2012 14:28:00 GMT

Ahmad Nassar, Group Treasurer of Al Fahim Investments, was picked at random as the winner of a new iPad, having taken part in Treasury Today's Corporate Treasury Benchmarking in the Middle East 2012 survey.

Love’s LIBOR’s lost

Thu, 22 Mar 2012 13:10:00 GMT

The rate at which the banks say they are willing to lend to another is a central plank of the world’s financial system. But what happens when the markets suspect the banks are cooking the books?

Export insanity: Scottish tea ‘leaves’ for China

Thu, 22 Mar 2012 12:27:00 GMT

There are some business ventures only the most foolhardy entrepreneur is likely to think investible. Few venture capitalists would snap up equity in a business that shipped coal to Newcastle or flogged ice to Eskimos, for example.

Commodity risk tools yet to convince corporates

Thu, 22 Mar 2012 11:45:00 GMT

The rise in commodity prices looks set to continue and corporates must consider fundamental changes to their business model if they wish to manage this risk area more effectively. A Commodity Trading Risk Management (CTRM) function offers a transparent view of complex commodity portfolios and exposures but the uptake in the market remains low…

Best practice for supply chain finance

Thu, 22 Mar 2012 11:10:00 GMT

Research by Demica, a leading working capital consultancy, suggests that in 2011, supplier finance programmes led, on average, to a 3-4% cut in suppliers’ cost of borrowing. Large multinationals, such as Caterpillar, have launched successful supply chain finance schemes that are now being rolled out to emerging markets such as Asia.

Staffing cuts in US city see cheques worth $334,000 go undeposited

Thu, 15 Mar 2012 12:11:00 GMT

A civil servant at the Department of Inspection and Standards in the indebted city of Providence, Rhode Island has unearthed a cache of un-cashed cheques. They range in value from $5 to $114,000

Regulatory demands stretch compliance teams to their limits

Thu, 15 Mar 2012 12:01:00 GMT

A new survey by Thomson Reuters Governance, Risk & Compliance (GRC) has found that the increasing volume of regulation and scarce resources are hampering compliance teams in their quest to successfully manage compliance.

QE: yet another hit for pensions

Thu, 15 Mar 2012 11:51:00 GMT

When it comes to corporate pensions, any news is bad news at the moment. Many pension funds have long been in deficit, reeling from the increased life expectancy of scheme participants, not to mention market volatility and low interest rates.

Exploring the treasury of the near future

Thu, 15 Mar 2012 11:38:00 GMT

Treasury is said to undergo periods of quiet evolution, not disruptive revolution. A new concept, Treasury 3.0, is perhaps about to change all that. We speak to Paul LaRock, principal at Treasury Strategies, to ask what it will mean for treasurers.

Cash investments: weighing the risks and rewards

Wed, 14 Mar 2012 15:09:00 GMT

At the height of the credit crisis, many corporate treasury departments went into survival mode. As such, their key investment priorities became the preservation of capital and ensuring sufficient liquidity to meet business needs. Now that money markets are beginning to stabilise, and with short-term interest rates remaining close to zero, many corporations are starting to explore ways in which they can improve the return on their surplus cash. But what are the implications of aiming for higher yield and how can corporates accurately assess the risks and rewards?

Mitigating fraud in file uploads

Wed, 14 Mar 2012 12:19:00 GMT

Fraud (external and internal) has been a hot topic lately. File uploads (vendor and payroll payments) to any bank’s platform involve downloading a file from an ERP, or some other accounting system, saving it, then uploading. When it is saved, in some cases the file can be modified. What best practices have you seen or do you suggest to eliminate or mitigate this common global risk?

Central banks playing with fire

Wed, 14 Mar 2012 12:18:00 GMT

Central banks are engaged in extremely loose monetary policy to boost the economy, as fiscal consolidation and private sector deleveraging will increasingly be a drag. Many investors seem confident that central bank money creation can lift the economy out of the doldrums. However, we are afraid that this policy will have dangerous consequences, although initially it might seem to provide a ‘free lunch’ when asset prices increase and (credit) growth picks up. What are these adverse side-effects and what damage can they do?

The tug of trading

Wed, 14 Mar 2012 12:14:00 GMT

Foreign exchange (FX) risk management has become an increasingly integral part of the treasurer’s role. But are there opportunities for companies to profit through FX trading? And even if there are, should treasurers really be taking advantage of them?

Best practice: finding your gold standard

Wed, 14 Mar 2012 12:02:00 GMT

Every treasury department is different thanks to a wide array of variables – geographic spread, industry, staffing levels, to pick just three. How do you find out the treasury best practices suitable for your department?

Treasury in emerging markets: focus on Africa

Wed, 14 Mar 2012 10:20:00 GMT

Africa is a continent on the move. In a world where significant growth is a rarity, Africa represents real tangible opportunities for large multinational corporates. But there are also challenges treasurers must face.

Mike Wallace, Group Treasurer, M&S

Wed, 14 Mar 2012 09:44:00 GMT

Mike Wallace joined Marks & Spencer plc as Group Treasurer in January 2006. Prior to that he was Deputy Group Treasurer at Exel plc, the international logistics company, having spent ten years there in various treasury roles. Before Exel Mike also held treasury positions at Samsung Europe and Oracle Corporation. Mike is a member of the Chartered Institute of Management Accountants and the Association of Corporate Treasurers and holds a BA (Hons) degree in Business Studies.

European Free Trade Association

Wed, 14 Mar 2012 09:14:00 GMT

The attraction of EFTA from the outset was its flexibility and dedicated focus on liberalising trade throughout its member states. Half a century on the trade ‘harmoniser’ has evolved significantly, but has its popularity been sustained?

Richard Dallas, Managing Director, Transaction Banking, Lloyds Bank

Wed, 14 Mar 2012 00:03:00 GMT

In these straitened times, it is important for companies to keep pushing forwards. We speak to Richard Dallas about ways in which corporates and banks can work together to create solutions that overcome the unique growth challenges of today’s operating environment. We also discuss the inherent value in recognising innovative projects and best-in-class treasury practice.

SWIFT for Corporates

Tue, 13 Mar 2012 23:55:00 GMT

After a slow start, SWIFT for Corporates is finally gaining ground. In this article Treasury Today examines the evolution of SWIFT for Corporates and its core components.

Meet the underwear entrepreneur with a stunning bottom line

Thu, 08 Mar 2012 12:52:00 GMT

Minimising figure flaws might sound like another name for ‘creative accounting’, but today we’re talking pantyhose. It’s official: Sara Blakely, inventor of Spanx shapewear, has just become the youngest self-made female billionaire.

Virgin territory in the capital markets

Thu, 08 Mar 2012 10:59:00 GMT

Interesting times at Virgin Media, the telecommunications and entertainment company. In the same week that it announced plans to buy back up to $500m of its outstanding dollar-denominated 9.50% senior notes due 2016, the ratings agency Standard & Poor's changed its outlook on the company to positive from stable.

Predicting and quantifying ROI on a TMS

Thu, 08 Mar 2012 10:47:00 GMT

When it comes to drawing up a proposal for the purchase of a new piece of technology for treasury, the business case will usually focus on the additional value that such a piece of kit will bring to the organisation.

SEC proposals on MMFs provoke strong reaction from US treasurers

Thu, 08 Mar 2012 10:35:00 GMT

A survey released this week by Institutional Cash Distributors (ICD) has revealed the depth of feeling among US treasurers towards proposals to reform money market funds (MMFs) being considered by the Securities and Exchange Commission (SEC).

60 Second Interview – Andrew Marshall, Director of Treasury Solutions, AstraZeneca

Thu, 01 Mar 2012 10:48:00 GMT

Andrew Marshall is an experienced consultant and project manager with a vast range of involvement both as an external consultant and as an entrenched in-house treasury executive. AstraZeneca is a leading biopharmaceutical company. Andrew speaks to Treasury Today from his current position as Director of Treasury Solutions at AstraZeneca…

Gordon Gekko: the road to Damascus

Thu, 01 Mar 2012 10:33:00 GMT

In 36 AD, Saul, a Pharisee and ardent prosecutor of the followers of a man named Jesus, was on his way from Jerusalem to Damascus. The purpose of his visit was to persecute more of these troublesome Christians. As he approached the city, he was enveloped by a bright a light in which Jesus spoke to him and convinced him that persecution wasn’t the way forward. The term ‘Damascene moment’ was coined to describe Saul’s conversion to the new faith.

Growth in MMF usage knocks bank deposits

Thu, 01 Mar 2012 09:22:00 GMT

A recent cash management study by SunGard has highlighted the increasing use of money market funds (MMFs) by corporate treasurers, despite relatively low returns.

Eurozone storm: six lifesaving steps

Thu, 01 Mar 2012 09:12:00 GMT

With scare stories about national downgrades and even the possibility of countries leaving the euro still looming large, we look again at what corporate treasurers can do to ensure they are prepared for every eventuality. This follows on from the survival guide that Treasury Today published in December.

Final frontier for criminal gang: $6 trillion of counterfeit bonds seized

Thu, 23 Feb 2012 12:57:00 GMT

Vulcanica, rather than being a fetish for Star Trek’s Mr Spock, is a genus of moths of the Noctuidae family. There are close to 1,450 species of the winged insect found in Europe. It also happens to be the name of the covert operation under which a haul of allegedly fake US treasury bonds – with a face value of $6 trillion – were recently seized in Switzerland.

How to get the recognition you deserve at work

Thu, 23 Feb 2012 12:36:00 GMT

It’s fair to say that the majority of treasurers are retiring types. But being a conservative sort doesn’t always help you get ahead in the workplace. Indeed, praise is often dished out on the basis of ‘those who shout the loudest’. “My small treasury team is extremely innovative and we always go the extra mile to deliver for the company, but in the grand scheme of things we are overshadowed by some of the ‘flashier’ departments,” says a UK-based treasurer.

Five reasons why you need an asset manager

Thu, 23 Feb 2012 12:06:00 GMT

At a time when corporates are doing their utmost to tighten the purse strings, Jennifer Gillespie, Head of Cash Management at Legal & General Investment Management justifies those much deliberated fees…

And the Treasury Salary survey says…

Thu, 23 Feb 2012 11:53:00 GMT

It is no secret that the past few years have been challenging ones for treasury recruiters. When the credit crisis hit, salaries were capped, departments were cut to the bone, and ‘bonus’ became a dirty word. Are things starting to look up or is the downturn in the treasury recruitment market set to continue?

Corporate debt: this time it’s business

Thu, 23 Feb 2012 11:29:00 GMT

Corporate bonds have emerged as major beneficiaries of recent negative market trends. Since the beginning of the year, European corporate debt issuance has jumped by 83% compared to the same period in 2011, according to new data released by Thomson Reuters. Companies from Germany, France and the United Kingdom are the main players, accounting for 69% of all debt issuance. Across the Atlantic, American corporate bonds are experiencing strong demand. Barclays announced this week that the average yield on US corporate bonds has sunk to a record low of 3.34%.

Alpha males had beta read this

Thu, 16 Feb 2012 12:29:00 GMT

In his best-selling book Liar’s Poker, Michael Lewis, a one-time Salomon Brothers bond salesman, coined the term ‘Big Swinging Dick’ (BSD), a charming epithet he reserves for those traders who do their jobs with inimitable bravura.

The ‘coolest’ cut of all

Thu, 16 Feb 2012 12:20:00 GMT

Analysts predict that China’s reserve requirement ratio (RRR) is about to be slashed by 50bps. How will the injection of liquidity affect bank lending and what do the cuts mean for the larger economy?

Investors see banks in new light

Thu, 16 Feb 2012 12:08:00 GMT

Morale in the financial sector may well be boosted by the latest findings from ratings agency Fitch. But can improved investor sentiment towards banks be relied upon in what may be a tough year for refinancing?

Follow the ‘Southern Silk Road’

Thu, 16 Feb 2012 11:55:00 GMT

Another year, another summit at Davos. In late January world leaders and business chief executives gathered in Switzerland to exchange ideas on global trends and economic problems. While attention centred largely on Eurozone troubles, one speech in particular stood out from the crowd for its scope and originality.

FX volatility

Tue, 14 Feb 2012 10:57:00 GMT

FX market volatility was a huge concern in 2011. What are your EUR/USD forecasts for the coming year and indeed forecasts for any other major currency pairs? Is there any advice you could give to safeguard against the volatility?

Problem Solved: Karen Fagan, ITV

Tue, 14 Feb 2012 10:50:00 GMT

Karen Fagan

Finance Manager

ITV

ITV is the largest commercial television network in the UK. It is the home of popular television from the biggest entertainment events, to original drama, major sport, landmark factual series and independent news. It operates a family of channels including ITV1, ITV2, ITV3 and ITV4 and CITV which are broadcast free-to-air on analogue (ITV1 only), Freeview, digital satellite (Sky/Freesat) and cable. ITV is also focused on delivering its programming across multiple platforms including itv.com, video on demand on cable television and other ‘closed’ platforms, mobile devices and games consoles.

Helvetian hubbub

Tue, 14 Feb 2012 10:37:00 GMT

It used to be that investors could at least be certain of some things in times of turbulence on the currency markets. Like that the Swiss franc would strengthen and that their money would be safe in Switzerland, given the country’s long history of political and economic stability, prudent monetary and fiscal policies and low inflation. Nowadays, that is much less the case.

Creativity in challenging times: innovation in payments

Tue, 14 Feb 2012 10:32:00 GMT

The payments world is vast and expanding rapidly. While much of the visible progress can only be found in the retail space, corporates should be aware of the quiet revolution taking place. From corporate payment processes to bank best practice, and non-bank market participants through to new technology, innovation is driving growth and efficiency. But challenges remain, particularly in the face of new regulations.

A new direction: Sonia De Paolis, TomTom

Tue, 14 Feb 2012 10:31:00 GMT

PORTRAIT
Sonia De Paolis: Head of Treasury, TomTom; LOGO

TomTom is a global supplier of location and navigation products and services. The company provides consumers and enterprise, government and automotive industry customers with digital maps, traffic intelligence, navigation software, portable navigation devices, automotive systems, fleet management services, smartphone apps, fitness devices and speed cam intelligence.

In this interview, Sonia De Paolis tells us more about TomTom’s treasury and the future she has envisioned for the unit.

Spotlight on commercial cards

Tue, 14 Feb 2012 10:31:00 GMT

Offering the possibility of streamlined cash management processes, improved working capital efficiency and increased visibility and control over corporate spend, corporate cards are the treasurer’s new best friend. In this Product Profile, we look at the ways in which a tailored card programme can assist treasurers through the tough economic times. We also look at market developments and best practices.

Is your head in the cloud?

Mon, 13 Feb 2012 13:52:00 GMT

Dynamic competition and economic pressure has meant increased requirements for the availability, scalability, and efficiency of corporate IT solutions. Accelerating at an unprecedented rate, the cloud phenomenon, and its related benefits, pave the way for business innovation in such an environment. Cloud has prompted a different way of thinking: looking outside the company’s existing systems and infrastructures is the new ‘virtual’ mantra.

Bank Interview: John Gibbons

Mon, 13 Feb 2012 13:38:00 GMT

We speak to John Gibbons about his appointment as Europe, Middle East & Africa, (EMEA) Regional Executive at J.P. Morgan Treasury Services. We also look at risk and efficiency in a new light, whilst examining the metaphorical ‘DNA’ of a treasurer.

Treasury in emerging markets: focus on MENA

Mon, 13 Feb 2012 12:20:00 GMT

While there may be short-term challenges on the horizon for the Middle East and North Africa (MENA) region, investment in infrastructure and international business expansion look set to provide treasurers with a number of interesting long-term opportunities. We look at the hurdles that foreign MNCs might face when moving into the region, whilst examining key market trends and ambitions.

Wholesale Banking at Abu Dhabi Commercial Bank

Mon, 13 Feb 2012 12:12:00 GMT

In this Bank Profile, we examine Abu Dhabi Commercial Bank’s suite of cutting-edge solutions, as well its strategic relationship with Bank of America Merrill Lynch. We also discover what trends are taking place in the MENA treasury market.

The Marshall Plan

Mon, 13 Feb 2012 09:32:00 GMT

Europe lay in tatters from the World War II conflict. The labour force was severely depleted due to casualties of war and industrial centres were in ruins. US Secretary of State, George C. Marshall was the driving force behind a programme of aid to get the European economy moving again.

Pension pains in 2012

Mon, 13 Feb 2012 09:25:00 GMT

The headache of defined benefit pension schemes is nothing new – but the Eurozone debt crisis has heaped further pressure upon an already challenging matter. As corporate treasurers take an increasingly active role in the area of company pension schemes, they are being confronted with a wide range of issues from lower yielding assets to the impact of pensions on M&A activity.

Understanding trade finance

Fri, 10 Feb 2012 16:28:00 GMT

The tools and methods of trade finance form the basis of every domestic and international trade transaction. Raising capital, mitigating risk exposure and executing payments all fall under its domain. With Basel III regulations on the horizon, trade finance is back in the headlines.

An Arab Spring in Islamic finance’s step?

Thu, 09 Feb 2012 12:48:00 GMT

The Islamic finance industry looks likely to benefit from the Arab Spring that saw the collapse of governments in Egypt, Tunisia and Libya, bringing sweeping change to how business is done in the region.

God turns a blind eye as crisis bites

Thu, 09 Feb 2012 12:35:00 GMT

The picaro, or rogue, is a stock character in Spanish culture. Often a foundling or waif, he’s the wily anti-hero of a number of works of fiction, most notably Lazarillo de Tormes, a classic of the picaresque genre.

Using the fear factor: volatility as an asset class

Thu, 09 Feb 2012 12:26:00 GMT

With the threat of further instability in the Eurozone, and the global ETP industry continuing to grow, should investors be taking advantage of using volatility as an asset class in its own right?

60 Second Interview – Misys has China in its hands

Thu, 09 Feb 2012 10:44:00 GMT

Misys PLC, a global leader in treasury, capital markets and banking software solutions, opened a new centre of excellence in Beijing at the beginning of 2012. The company says it has taken a foothold in China so that it can familiarise itself with local market conditions and service its expanding client base in the APAC region. Rose Jan, Head of Sales at Misys tells us more…

Employees rewarded for tyreless efforts

Thu, 02 Feb 2012 12:29:00 GMT

In these straitened times, when a company makes the news for its largesse, it is usually because the board has decided to pay itself a bonus of unconscionable proportions.

Enter the dragon

Thu, 02 Feb 2012 11:34:00 GMT

Last Monday marked the beginning of the Chinese New Year. Those for whom 2012 holds special significance were born under the sign of the dragon and are said to be passionate, brave and good with money. All qualities the policymakers at the PBoC will have to possess if they are to steer the country through the choppy economic waters that lie ahead.

Got a dose of interest rate inertia?

Thu, 02 Feb 2012 10:50:00 GMT

Stalemate in the Eurozone has seen interest rates in the UK remain near historic lows. Meanwhile inflation peaked in September 2011 registering 5.2% - well above the BoE's target 2%.