N Rock ‘bad bank’ set to return to profit

The bank’s asset management business is on course to return to profit as early as this year, well ahead of the so-called good part of the nationalised lender

• Hopes rise of profit from Northern Rock sale
• Northern Rock statement

Shinsei in capital drive as merger falters

The Japanese bank is preparing to raise about Y75bn in fresh capital as a merger with a rival domestic lender once seen as a lifeline is in danger of collapse

Upturn casts doubt on Japan banks’ union

The logic behind the proposed merger of Japanese banks Shinsei and Aozora has disappeared following a return of stability to global financial markets

Barclays’ nous lifts hopes of US dream

The bank’s retail banking division is drawing up a strategic plan which will focus on how the group could break into the US market via a big acquisition

Pandit sees revival of Citi’s fortunes

Vikram Pandit, Citigroup’s chief executive, will raise the prospect of the US bank earning as much as $20bn from its core business within a few years, a big increase from current levels that would mark a sharp revival in Citi’s fortunes

Citi chief is on a mission of transformation

Shifting focus and reviving belief are key to the bank’s plans for change

Goldman China chairman quits

One of Goldman Sach’s top China bankers has followed several other former colleagues and quit to set up a mainland private equity fund

Troubled Kuwaiti bank opts for openness

After defaulting on its debts, a repentant Global Investment House tried an unusual tactic in the Middle East – total transparency about its restructuring process