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The rugby bandwagon continues to roll. Latest to declare their new love of the game are fund managers Gartmore. The recipient of Gartmore's contribution is that venerable rugby institution the Barbarians. The club, founded in 1890, is most widely lauded for its 1973 match against the New Zealand All Blacks in which Gareth Edwards scored arguably the greatest ever try.

Goldman Sachs is struggling to reassure other brokers that they have nothing to fear from its plans to turn proprietary platform RediPlus into a multi-broker trading system. Rivals see contradictions, a grab for profits, and a desire to dominate equities trading. Antony Currie reports.

The world's largest steel company's M&A team is as big as an investment bank's steel sector corporate finance division. Arcelor reckons, though, that its team's superior sector knowledge makes it more effective at doing deals that enhance core assets, deliver synergies and boost shareholder value. Kathryn Tully reports.

Forex scandals are rare, considering the size of the business. But when they happen, they tend to be dramatic. Demands for tighter controls are growing. But even without a clear and unified regulatory framework, a fear of reputational and financial risk ensures that banks take the issue seriously. Deborah Kimbell reports.

Head of sports, media and professional client groups, Coutts

Portuguese banks have come smoothly through the recent slump. But with fewer consolidation opportunities available at home, further growth seems dependent on ventures in neighbouring Spain. Spanish predators still circle. Jules Stewart reports.

Cynics may regard the new prime minister of Malaysia's dramatic moves against corruption and overblown projects as little more than electioneering. But many in the financial community see the actions as a welcome and necessary change of tack for the country. Peter Koh reports.

Under Thaksin Shinawatra, Thailand has chosen a distinctive path to prosperity. Some hail its success as a blueprint for the region; others warn of an inflationary bubble. There are also hint of shifts in the Thai political and social fabric that could transform not just Thailand but the whole region's geopolitics. Chris Leahy reports.

With just over a year left before they lose the state guarantees that they rely upon for cheap financing, several German Landesbanken still do not have a clear strategy. Investors have reacted by rewarding those that have communicated a strong business plan. Katie Martin reports.

Hedge fund Phylon's launch was ill-timed, but its partners' application of emerging market experience to European equities has impressed investors. Julie Dalla-Costa reports.

The impact of European Union regulation requiring all listed companies, including banks, to comply with International Financial Reporting Standards (IFRS) as from January 1 2005 will vary from institution to institution in light of the various differences between IFRS and current national standards, Moody's Investors Service says in a new Special Comment. As a result, EU banks should communicate their views on the implications of the changes as soon as they are in a position to do so, the rating agency adds.

JPMorgan Treasury Services has won the competition to become the Continuous Linked Settlement (CLS) provider to the New York Clearing Corporation (NYCC), the clearing house subsidiary of the New York Board of Trade. Contracts for NYCCs quarterly foreign currency futures will now connect to the payment versus settlement system, CLS, in a bid to reduce its risk. NYCC also has the option to net capital inflows and outflows, and in doing so, reduce systemic risk.