This week on FT Alphaville,
- Nothing better than a visit from an old friend. And this week, along came that sly dog Edward Pastorini to brighten our start to the week. But bad news for the would-be Gold Fields bidder, the SEC is on his tail, with a few questions for the prankster.
- But sometimes guests outstay their welcome. The subprime crisis for example has been hanging around for several months now – but made its presence felt again this week. The credit markets were in disarray mid-week – but by Friday there were some signs of stabilisation.
- With outrage rather thin on the ground in the executive pay sphere, one UK investor group seems to have decided to widen its remit.
- After months of to-ings and fro-ings, pregnant corporate pauses and media guess-work, Rio slapped an offer for Alcan on the table, seeing off rival Alcoa. The deal, mused Ernst & Young, could kick-start more buying in the sector – and private equity may now be ready to jump in.
- Meanwhile, at a (very) high end do in London, the rowdier elements of the private banking fraternity got a ticking off.
- There’s been an outbreak of poor man’s activism – powered by the internet. And Motorola is at the centre of the latest episode.
- Robert Buckland from Citigroup revealed what he sees as “one of the biggest arbitrage trades in financial market history.”
- We were astonished – no, gobsmacked – at the type of behaviour some chief executives think is ok.
- And finally, we learnt, “no bank…would survive the promised return of Christ.” Phew….
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