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Have you been wondering what, if anything, can cause bank stocks to fall? Last year's crisis managed to do it, but now it would appear to be little more than a temporary blip. And in the US at least, the first quarter of 1999 has been a profits bonanza for most of the banks, even for the likes of JP Morgan, which had been stuck in the return-on-equity doldrums for several years.

It is flattering to be remembered by Paul Roby so long after the event (letter, "Begging to differ" April, page 13).

There could be few clearer indications that foreign banks are smoking out the locals in the Japanese capital markets than Citibank's success in syndicating a $5 billion loan for Japan Tobacco.

Why did Morgan Stanley Dean Witter decide in January to move the irrepressible Riccardo Pavoncelli from head of European debt capital markets to head its European media industry group.

This year's splurge of big M&A deals have upped the pace in the race to be Europe's top M&A adviser.

Is the tide about to turn for the Nigerian Stock Exchange (NSE)? With major companies trading at very low P/E ratios, and with prospects of greater political stability, surely this is an emerging market that has been too long overlooked? Nigerian Bottling Company managers seem to think so. In March NBC did a N3.5 billion ($38 million) rights issue, Nigeria's largest ever.

Middle East: Arab banks lay regional plans

Which bank has the best connected external directors? Steven Irvine presents the first ever ranking of this often neglected weapon in the competitive armoury.

Gordon Brown, UK chancellor of the exchequer, speaks to Nick Kochan about the birth of the euro, tax competition in Europe and rethinking the world's financial architecture.

Since Russia and LTCM, risk managers have been searching for a better way to value financial firms and the risks they run. Amazingly, they and their regulators temporarily lost sight of an important relationship - between financial assets and the way they are funded. David Shirreff reports on a meeting at the sharp end of firm-wide risk management

When Wim Duisenberg announced a 50 basis point cut in the European Central Bank refinancing rate from 3% to 2.5% on April 8, he made every effort to pre-empt speculation about more such cuts for the foreseeable future. Throughout its first three months of operation, the ECB has had to endure endless pressure from European politicians and private-sector economists to cut interest rates. Having frustrated this critical audience by keeping rates stable in the face of sharply declining business confidence in the three largest economies in euroland Germany, Italy and France Duisenberg now surprised the markets with one swift, deep cut. And his message was: "This is it." Don't expect any more cuts in the near to medium term.

David Bowie's done it, European soccer clubs have done it, even British pubs and motorway service stations have done it. Now it's the turn of waxwork models.