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Edited by Antony Currie

Edited by Rebecca Bream

Citigroup's latest acquisition

It's been a rollercoaster ride. First investors were desperate to buy any stock available, now they are withdrawing funds. But how much is the grey market to blame? Laura Covill reports.

Trading on indigestion

Joining the Wall Street party

Edited by Brian Caplen

A new breed of deal-makers

The dollar and the Dow have dived. Serious imbalances in the US economy are now evident. The current account deficit is nearing unfinanceable proportions. The US economy could only grow at an above-average, yet disinflationary, pace while the rest of the world remained stagnant. That's no longer the case. Global growth is accelerating. So the dollar is no longer the currency of choice. And a weak dollar is synonymous with rising commodity prices and resurgent inflation. And it's not just the US economy and financial markets that are becoming paralysed. I reckon 2000 will be a year of US foreign economic policy paralysis. At its heart lies the presidential campaign. The impact on international relations could be severe. Those with Russia are already becoming strained. A deal on Chinese World Trade Organization accession may be missed, undermining Zhu Rongji and China's reformists. Trade tensions with the EU will escalate. And no action will be taken to support the dollar.

Citigroup's latest acquisition

Suddenly, euroland, or rather Germany, is full of the urge to rate companies great and small. Partly, this is a swipe at giants Moody's and S&P, but it's also recognition that medium-size companies will pay more for capital if they aren't transparently rated. The regions back their own Mittelstand, while Frankfurt roots for the Finanzplatz. David Shirreff reports.

Before the internet was heard of, Instinet, the 31-year old agency broker owned by Reuters, used new technology to challenge the world's mainstream stock exchanges. Now suddenly, it is being cast as the dinosaur. New electronic commission networks springing up in the US equity market threaten to eat its lunch. Instinet chief executive Doug Atkin tells Antony Currie how Instinet intends to thrive amid the electronic trading revolution