When the Best and Brightest Leave India/China, Lorre White

In the 1970s, long before the word “globalization” achieved common currency, the buzzword in India was “brain drain” -- an apparent problem that almost everyone in my family and circle of friends wanted to be part of. Many young men and women educated at highly subsidized public institutions started leaving the country in the 1960s to deepen or monetize their skills in First World countries. Unlike short-term contract workers servicing the construction boom in the Persian Gulf and … [Read more...]

Lorre White reports, ‘Safra Group to buy the Monaco private bank’

HSBC Said to Get Offer for Monaco Unit from Safra HSBC Holdings Plc (HSBA) (HSBA) received an approach from a unit of Safra Group to buy the Monaco private bank the Safra family once owned, and is also considering selling parts of its Swiss private bank, three people with knowledge of the situation said.Photographer: Dominique Faget/AFP via Getty Images The Monaco unit may be valued at $600 million to $700 million, one of the people said, asking not to be identified as the details are … [Read more...]

Lorre White reports, ‘French Banks Record Deposits …’

Will French Banks Record Deposits Grease The Wheels Of The Region’s Economic Recovery? French banks’ corporate deposits hit a record at the end of 2012, helped by clients like Sebastien Mejean, the co-founder of online jeans retailer Sojeans. The entrepreneur put most of the 2 million euros ($2.7 million) he raised from an Italian fund in deposits at Societe Generale SA and HSBC Holdings Plc’s French unit. Mejean, like BNP Paribas SA client LVMH Moet Hennessy Louis Vuitton, SA, the world’s … [Read more...]

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