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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
  • 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.
  • 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.
  • 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
  • Over the next few years, the vast scale of China's infrastructure and financing needs will give rise to increasing reliance on flexible and creative financing methods. Gao Peiji and Paul Kruger of Clifford Chance, Hong Kong, explain the obstacles facing clients for asset securitization in China
  • Change of domicile
  • The closure of internet companies like boo.com are creating new hunting grounds for companies seeking strategic acquisitions in the US. Richard Mason, Mitchell Presser and David Silk of Wachtell, Lipton, Rosen & Katz in New York examine issues they must face
  • Cleary Gottlieb completes German high-yield bond
  • PetroChina's March listing in Hong Kong and New York was the biggest sale of PRC oil industry assets to date. Its IPO is the latest step in a long march towards a thorough restructuring of China's oil industry. But Mark Day of White & Case, Hong Kong, asks if the industry can survive WTO