Playing Chinese bond games

The first interest rate cut in five years has helped to boost the Chinese bond market, which is being reformed and currently enjoying a good run.

The figures behind the figures

The accounting standards still used by most Russian banks are a hangover from the old Soviet system, revealing little about their health and bandaging up their infirmities.

Boutiques for sale

Within the past year two of the most respected investment banking boutiques have been sold ­ Gleacher to NatWest and Wolfensohn to Bankers Trust.