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Focuses on Chinese-born, Western-educated bankers who are heading the operations of big investment banks or playing crucial roles in China. How these bankers were raised as Communists during China's Cultural Revolution, but were schooled in capitalism; Suggestion that they are some of the most powerful deal makers in China; Role of these rich and politically astute investment bankers in helping transform China's economy and restructuring some of its biggest corporations; Examples of Chinese-born star bankers at various investment banks; Information on these fairly secretive bankers, who have returned to China to play pivotal roles in a growing number of international deals; Value of these new bankers' relationships and navigational skills; Why the rise of these bankers may pose some risks to the banks.

Reports that Goldman Sachs & Co. and Allianz AG of Germany are in talks to acquire a one-billion dollar stake in China's largest state-owned bank, the Industrial and Commercial Bank of China. Author's view that the talks come at a time when some of the world's biggest financial institutions are rushing into China to acquire states in some of the country's largest state-owned banks ahead of planned initial public offerings in the next few years; Review of recent deals involving state-owned banks and Bank of America Corp. and UBS AG; Comments on the deals from Jack J. T. Huang, overseer of China coverage for the law firm Jones Day in Taipei, Taiwan.

Reports that UFJ Holdings, the Japanese bank, posted a loss for its fiscal first half. Financial information; Efforts to reduce its bad loans ahead of a planned takeover by the Mitsubishi Tokyo Financial Group; Analysts' expectation of a loss; Views of industry experts; Outlook for a net loss for the year; Comments of UFJ's president, Ryosuke Tamakoshi; Decline of the bank's corporate lending due to Japan's economic slump.

Examines how Charles O. Prince, chief executive of Citigroup, is trying to revamp the reputation of financial giant Citigroup. Prince's reaction to the closing of Citigroup's private banking unit in Japan; Strategy of Prince, including a global tour of the bank's biggest locations in a campaign to change the company's culture; Comments of Prince; Question of how effectively a chief executive can change the culture of a company as large as Citigroup; Comparison of Prince with Sanford I. Weill, who remains Citigroup chairman; Management challenges; Overview of the company; Outlook.

Reports on the agreement of creditor banks to support a capital increase and billion-euros in contract guarantees for the troubled engineering giant Alstom.

Reports that Guillermo Ortiz, governor of Mexico's central bank, has called for lower costs to make bank services accessible. Criticism of the banking system by legislators and business groups; Testimony of Ortiz before the Senate finance and trade committees; Call by Ortiz for global banks to list their subsidiaries on the local stock market; Views of banking analysts; Reference to the near-collapse of the Mexican banking system in 1994; Outlook.

Focuses on the Bank of Japan, which cut its benchmark short-term rate effectively to zero in 1999. Failure to stimulate borrowing, investment and growth; Ways that the policy has affected trading in Japan's money markets; How the banks are transacting business; The spread of Japan's nationwide experiment with ultra-low rates.

Reports that Citigroup has agreed to buy a percentage of the Shanghai Pudong Development Bank, one of China's biggest publicly traded banks. View of economist Michael Kurtz that China can improve the quality of its banks by importing Western management practices; Financial details; How Western banks are eager to get into the Chinese market as the country prepares to open its financial services industry.