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Jean-Claude Trichet, European Central Bank.

It could be the perfect storm – financial, macroeconomic and geopolitical risk are all on the rise. Risk is both where you anticipate it, and where you least expect it.

"Why did I tell you that? Please, please forget that I mentioned it," a chief wailed.

The SEC and the FSA have both acted too hastily in reacting to short selling. In the UK, the new disclosure rules have compounded the turbulent mood of the market. Neil Wilson reports.

Turkey set out on the road to EU accession some 60 years ago but the goal remains elusive. Turkish bankers consider the journey worthwhile. But, they muse, if the country keeps on being spurned it should look east rather than west to apply its new-found expertise and dynamism. Eric Ellis reports.

HSBC’s attempted takeover of Korea Exchange Bank has been in limbo for more than a year, pending regulatory approval that in turn depends on the outcome of a court case involving individuals charged with improper conduct in the Korean bank’s original sale to private equity firm Lone Star. With the initial deadline already passed, the Financial Services Commission has said it is still reviewing the case, and Korean banks have said that they too would be interested in KEB. Richard Wacker, the bank’s chief executive, is a 20-year veteran of General Electric brought in by Lone Star in February 2004 to turn the then-troubled bank around. Euromoney spoke to him in Seoul about the frustrations of the delayed deal, his plans for KEB’s future and what having HSBC as a majority shareholder could mean for his bank.

Central bank governor Martin Redrado is confident he can win the fight against inflation, but investors are sceptical of Kirchner’s policies.

Barclays Global Investors (BGI) has appointed Deborah Fuhr as global head of ETF Research and Implementation Strategy.

IPOs are scarce enough as it is in this gruesome global market. But the largest ever IPO from one of the world’s poorest countries, whose previous record deal was in 1994? That’s rarer still.

Georgia’s ill-fated attempt to prevent the secession of South Ossetia and Abkhazia is set to cost the country billions of dollars, but financial backing from western Europe and the US should help to ensure that the country’s economy remains one of the most open and business-friendly of the states that were formerly part of the Soviet Union.

US long/short fund Andor Capital, spun out of Pequot Capital in 2001, is closing its doors and returning money to investors. The fund manages more than $2 billion in assets. Co-founder David Benton said in a letter to investors that he wanted to devote more time to his family and other interests.