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Barclays’ announcement last month that it had agreed to outsource cash management services for its larger UK corporate clients to Deutsche Bank is remarkable. Maintaining account services, domestic and international payments and collections, liquidity management and electronic banking are bread-and-butter banking activities. The provision of such unglamorous but vital services is an essential part of the cement that binds corporate customers to their relationship banks. So it can’t have been easy for Barclays to admit that its customers would be better off using Deutsche’s products and services than its own.

The rich expect their investment advisers to be ahead of the herd in adjusting portfolios to market changes. When we asked private banks for model allocations they stressed diversification, but recipes for this varied widely.

General Electric has sold 30 percent of life and mortgage insurer Genworth Financial for $3.53 billion in the biggest IPO since the July 2002 IPO of CIT Group, which raised $4.89 billion.

Dresdner Kleinwort Wasserstein today launched and priced credit spread warrants based on ?400 million of Casino to-be-issued bonds.The warrants give investors the option to purchase Casino bonds in the future on terms determined today. It is the first time that credit options have been sold to corporate bond investors.

New York attorney general Eliot Spitzer says he is after another fat cat - he has filed a civil lawsuit against former New York Stock Exchange CEO Richard Grasso for misleading NYSE directors over his "excessive" pay package.

Corporate executives are much more confident in their financial forecasting and reporting output than they were a year ago - but it's at a price. A new study by The Hackett Group finds that 67 percent of executives are confident in the accuracy of their financials, up from just nine percent last year.

Following Trema's acquisition of Alterna, the US technology group, the European-based software provider has launched the updated version of its cash and treasury management product by combining Alterna's cash management product with Trema's treasury and asset management offering.

There is some harsh news for finance departments... According to a new study by Accenture, senior executives believe their finance departments should be playing a key role in helping them make business decisions - but aren't.

A US federal appeals court has said that the Sarbanes-Oxley Act seems to be lacking a definition of "extraordinary payments".

The SEC has issued wide-ranging changes to rules governing the issuance of asset-backed securities (ABS), one of the fast-growing areas of securities lending. The main areas of reform, discussed below, aim to address current market practices that lie beyond the sphere of current SEC regulations.

Basel II, the international accounting standard, has moved a further step closer to its final ratification after consensus was reached on some of its major issues by the Basel Committee on Banking Supervision, a group made up of central bankers and banking regulators.

Barclays and Deutsche Bank have joined forces to launch a pan-European cash management service for large corporates called 'Barclays Euro Treasurer'.