Russia’s state-owned retail giant Sberbank issued its first Eurobond last month. The bank is the first to cash in on ratings agency Moody’s surprise decision to award a two-notch upgrade to the sovereign rating – taking Russia into investment grade territory.

William Donaldson, chairman of the US Securities and Exchange Commission, argues that the costs of Sarbanes-Oxley and other reforms are opportunities from which companies can benefit.

HSBC chairman Sir John Bond talks to Karina Robinson about the transformational impact of the bank’s acquisition of Household International.