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Through his creation, 21i.net, entrepreneur Fritz Kaiser is hoping to bring together the leading wealth management service providers in the world as a type of one-stop shop. His path towards a wealth management utopia, however, is not as smooth as had been foreseen. Helen Avery reports.

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.

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.

Wal-Mart has acquired Bompreco, a Brazilian retail chain with 118 hypermarkets, supermarkets and mim-markets, from Ahold for $300 million.

ANZ Investment Bank today announces the appointment of Malcolm Hiscock as global head of corporate finance. Malcolm is an M&A specialist with a strong track record of over 14 years' experience in high profile transactions for major listed companies both in Australia and internationally.

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.

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.

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.

It is just past midnight at The Morning Night Bar a few doors down from Bangkok's notorious Nana Entertainment Plaza and the party is in full swing. Loud rock music belts from speakers, clouds of cigarette smoke hug the pool tables and groups of inebriated western men clutch younger-looking Thai consorts as the Singha beer flows and the good times roll.

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.

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.