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  • US lawyers have voted overwhelmingly against plans to allow lawyers to join forces with other professionals, striking a blow against the ambitions of accountancy firms as they try to build global legal networks
  • Judith Lawless of McCann FitzGerald, Dublin, looks at the new rules governing netting and credit derivatives in Ireland
  • So far no top firm has followed Clifford Chance’s January 1 lead and completed a transatlantic merger. But as non-US firms in New York rapidly seek to build their US practices, behind the scenes negotiations are taking place at a frenzied pace. Tom Nicholson reports
  • Telecom Italia has sold off an 81% stake in its software subsidiary, Italtel, to an investor group led by internet group Cisco Systems and the US private investment group Clayton Dubilier & Rice (CD&R). The cost is put at $760 million.
  • Simmons & Simmons has been advising US online retailer priceline.com in its strategic alliance with Hutchison Whampoa.
  • Applications for formal alliances and joint venture licences are now in the hands of Singapore's attorney general. However, this milestone has not created any greater certainty about what the outcome might be.
  • Hong Kong's new economy is driven along by old money. This suits lawyers just fine, of course, because it means that established old economy clients can drag them effortlessly into new economy work.
  • A&O secures Sullivan & Cromwell high-yield debt partner
  • Some US firms in London are beginning to count the cost of over-eager growth, but others are still hiring like there's no tomorrow. Rufus Jones looks at how US firms are pacing themselves in Europe's financial centre
  • By Jürg Borer (Competition) and Jakob Höhn (Mergers & Acquisitions) of Pestalozzi Gmuer & Patry