December
Listing shows how far and how fast China has travelled
When China begins listing its giant state-owned banks on capitalist stock exchanges, the world has definitely changed beyond all recognition. The story of China Construction Bank’s (CCB) route to the Hong Kong bourse is full of thrills and spills. Contributing editor Sophie Roell recounts the entire tale on page 76.
November
RBS proves there is no success unless you put spin on it
For the past eight years in Britain, we have “laboured” under a government consisting of mostly spin and very little substance. Time and again, vital public sector reform has been fudged – public sector pensions being the latest example – because prime minister Tony Blair is preoccupied with his media image and has little appetite for taking tough decisions that upset domestic interest groups.
October
Investment banks should disclose more about their earnings
Investment banks are notoriously secretive about their earnings. They argue that to disclose more would give away competitive advantage. But aren’t shareholders and regulators entitled to a fuller picture of exactly how they make their money? As a first step in understanding the situation, in this month’s cover story we publish the best information available on the primary markets and look at the size of the secondary business.




