Europe eclipses Wall Street
Wednesday, December 27, 2006
As seen in the news:
Boom-time Europe eclipses Wall Street Shanny Basar and Heidi Moore
The balance of power is shifting across the Atlantic at top US investment banks
''Many of the longstanding barriers to doing business in Europe have started to disappear. The myth of the single European market is gradually becoming reality, while the progress of Europe’s emerging economies has gathered steam. ''
''Bear Stearns, widely seen as the most American of the bulge-bracket banks, has seen its non-US operations become more profitable than its domestic business, according to Hecht. He said Bear Stearns’ overseas operations have grown to $1bn (€760m) in annualised revenues and the firm plans to get 25% of its revenues internationally, compared with today’s 13%.''
Original article in Financial News online
Labels: Europe, Financial, USA, Wall Street
posted by IntoBlogs @ 5:03 AM,
