In the World

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The largest bankruptcy in American history comes to an end

New York | Although Lehman Brothers collapsed more than three years ago, its full dissolution depended on settling creditors’ claims worth around $450 billion. On Tuesday, a federal judge paved the way for the now infamous firm to exit Chapter 11 protection. The final phase of the largest and most complex biggest bankruptcy in US history –as the firm defined it– that tipped world economies into chaos, involving 7,000 legal…




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Emilio Botín, the first banker to open a branch in a ‘favela’

In the last seven years in Brazil, 46 millions of poor people have become middle class and it is expected that 19 millions more can also improve their purchasing power by 2014. Banco Santander is the third private bank in Brazil, following Itaú and Bradesco, and the first opening a branch in a ‘favela’, Alemao, the most dangerous in Rio de Janerio. The daily Expansión had the scoop: “The opening…


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The last major US airline files for bankruptcy

NEW YORK | It used to be the world’s largest airline, a ‘dream of stars and stripes,’ the only big carrier that had succeded to avoid bankrupt. Yet now it has gone broke. American Airlines and its parent company AMR on Tuesday filed for Chapter 11 bankruptcy protection in New York, in an effort to cut labor costs, airport agreements and airplane leases to bring them in line with the…



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“Investors are about to realise the US economy is in trouble, too”

Another crystal clear note from Nordkapp analysts in Madrid: “If Germany keeps its ironclad determination of not accept the monetisation of the bad sovereign debt in the hands of the banks, if the holes in the Spanish banks are not monetised, if a haircut is not applied to Greek debt, an exit to the crisis with all its consequences will be delayed. Each day that passes without resolving the crisis…


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All change! or your company will vanish before 2020

LONDON | Most company leaders forecast that business structures will inevitably change. A 63 per cent predict a shift to decentralised mechanisms with a far-reaching devolution of business decision-making authority. The majority assume that customers will generate almost as many new ideas for the improvement of business processes as employees. And by 2020, customers will generate the most new product or service ideas. Business leaders are expecting wrenching change to…


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Where there’s innovation, there’s hope

LONDON | Just how does innovation relate to the economy, and what does it mean that US and European firms hold all positions at the Top 10 list? The 100 leading innovative firms added more than 400,000 new jobs in 2010 over 2009, three percent more than the prior year and greater than the percentage increase in growth experienced by the S&P 500 for the same period, a comparison of market…


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Is health insurance a must?

NEW YORK | Can a government compel citizens to purchase basic health insurance? For President Obama, it should, indeed. For all Republican candidates, this would be a clear violation of individual rights. The US Supreme Court agreed on Monday to take up the case of President Barack Obama’s landmark health care reform in March. By June, the nation’s 9 top justices -viewed as one of the most conservative benches in…