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The Busine$$

Trouble at Barclays and Marks & Spencer boils down to failures in corporate governance-again

By John Plender   January 1999

Bouncing back?

What a latterday Prospero is Alan Greenspan, chairman of the US Federal Reserve. With a wave of his wand he dispels the financial storms and spreads amnesia around the financial community over the troubles in Asia and elsewhere. The result is a new lease of life for an ageing bull market. The folk in London and Wall Street have thus returned to their favourite pastime: extracting huge fees for marriage broking around the corporate sector.

The most impressive of these proposed marriages is between Exxon and Mobil, which re-assembles what the US anti-trust authorities had torn asunder in…

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