A revival of fortunes

Banks: Amid plans for big awards based on resurgent earnings, executives are holding out against charges of defying plans to end the bonus culture many blamed for the credit crisis
Banks around the world face increases in funding costs that could cut profits and hit their customers as they look to refinance $7,000bn-plus in short-term debt expiring in the next three years with longer-dated bonds, according to research by Moody’s
Winners and losers are emerging in Middle East
Case highlights China’s derivatives disputes
Speculation swirls over Wasserstein successor
Influential investors team up on scheme

Banks: Amid plans for big awards based on resurgent earnings, executives are holding out against charges of defying plans to end the bonus culture many blamed for the credit crisis

The importance of fair value accounting to responsible systemic risk management is hard to overstate, writes Lloyd Blankfein, chief executive of Goldman Sachs
A business at bay: More than two years since the credit crisis set in, investment managers face growing demands to justify what they buy for clients, the myriad fees they levy – and whether their vast industry serves anyone’s interest but its own
Deposits need to be backed by safe assets otherwise the mismatch of risk provides an unjustifiable public subsidy, writes John Kay
If there is one distinct winner to have emerged from the wreckage of the Lehman collapse and the financial turmoil that ensued, it is the investment banking arm of the UK bank
A year after acquiring most of Lehman Brothers’ businesses in Europe, Asia and the Middle East when the Wall Street institution collapsed, Nomura’s biggest challenge lies in playing down those Asian roots
Investment banks should prove to shareholders that the trading business can punch its weight by raising at least some of the capital direct from outside investors – who can help keep bonuses in line, writes Paul Marshall
Some Wall Street traders and analysts are reprioritising, joining investment bankers in the flight from large institutions to smaller firms