The banking world of haves and have-nots was starkly illustrated during the awards pitch meetings with Euromoney. At one extreme was a troubled bank that can no longer afford biscuits. At the other was one of the industry’s strongest performers offering English high tea – cup cakes, scones, jam, clotted cream, together with a good brew. Euromoney knows which one it prefers. The chocolate cup cakes in particular deserved high praise. One taster said: "They were some of the best cakes I have eaten – perfectly moist and light."

Default at its telecoms operator might soon add to Ireland’s woes.

ICMA chairmanship passes from one BarCap banker to another.

Ten years after 9/11 and the discounted leases that were issued to keep retailers from leaving the World Financial Center are up. Brookfield Properties is now stepping in with a $250 million plan to revamp the mall and office building that sits opposite the World Trade Center site. The property developer is adding a glass pavilion to host a 600-seat dining space, and is also planning an indoor food market.

Growing concern in the US that a Greek default could prove to be Europe’s equivalent of the Lehman Brothers collapse threatens to exacerbate trans-Atlantic tensions and spoil trading prospects for global investment banks.

There are doubts that the peripheral countries have the will to cut and tax their way to stability. That leaves growth as the way to balance the books. Where will it come from?

Fund raised €8 billion in June; Calls for EFSF Greek debt exchange

Unlikely to threaten OTC market; Other exchanges chase incumbent CME

"You should give it to us because we are nice and there are an awful lot of pricks in this business"

JPMorgan did a fine job in downplaying the significance of its recent payment of $153.6 million to the SEC to settle accusations of fraud over a mortgage-backed CDO squared product from 2007. The SEC had alleged that JPMorgan was negligent in failing to disclose the role that hedge fund Magnetar played in selecting the mortgages in the synthetic CDO, then taking the short side of the credit derivatives trades used to create the portfolio.

Although the process of banks lobbying to win Euromoney’s Awards for excellence can be a time-consuming and frustrating process for both sides, it does offer up the occasional lighthearted diversion. Among these one enjoyable annual feature is the backfiring pitch, in which a bank emerges from the meeting with perhaps less chance of winning the award than if it had not bothered at all.

CEOs can be forced to testify; Accused companies face difficulties in counter-suing

$50 billion resolution comes to an end; Model for US banking system and European banks

Amid the storm of accusations, counter-accusations and recriminations that has characterized the developing China overseas-listed stock scandal, much more has been written and said about the question of whether the companies involved are scams than what might have driven these alleged frauds to mislead their investors in the first place.

The IFC’s response to the banking crisis in emerging Europe could offer guidance for those seeking a solution to Greece’s woes.

Offshore renminbi market surges; Driven by corporate activity

Fears over market-unfriendly policies rise; But are not justified says BAML banker

Wider LatAm agreements planned; Brazil to introduce high-frequency trading

Local players still dominate; International banks target market share

Region contributes 43% of group income; Argentine unit prepares for IPO

Evolution of its financial system gives confidence that the economy will not overheat.

Delayed rule equivalent to US’s Reg M; Sources say insider trading the real issue

Corruption rife in Afghan banks, says CEO; Can fragile state survive another crash?

Complex financing comprises three facilities; Biggest Islamic deal for private-sector borrower

Infrastructure and fuel inflation drive issuance; AfDB creates domestic bond index

Global banks have their uses but local firms are proving best adapted to this rising region.

IIF report suggests it will be years before many banks have adequate risk IT; Only a few have a clear framework for assessing risk appetite

More Chinese companies listed in the US are considering going private as scandals dogging the sector harm their valuations, according to investment bankers working with those companies.

Corporate issuers bring volumes to $1.5 billion; End of the long-duration trade?