And then there were three

On Friday November 21, when the board of Yamaichi Securities met to discuss downsizing the firm, president Shohei Nozawa stunned board members by proposing instead that it should wind itself up.

Both a lender and a borrower be

With trillions of dollars of securities lent or temporarily sold each day the risks, once thought minimal, began to look higher in November.

Keep the equity issues coming ...

Will Asia's economic crisis knock eastern Europe off course? Will political disagreement stall privatization? Will the region's small companies flock to join the stock market? Rebecca Bream gauges the flow of new east European equity in 1998 and looks ahead to the year's biggest deals.

Three ways to make a mark

Spanish banking is clearly segmented by strategy, domestic banks competing for the retail markets and foreign banks heavily involved in offering services to multinationals and attempting to develop lower-level corporate business.