The Inuit have a saying: “The storm is the time to fish.” That’s a pretty apt metaphor, given the economic storm that’s been swirling over our collective heads for a while now. The situation may be easing, but it has certainly given us pause to think – if you will, a chance to poke our heads outside our igloos and fish for some new ideas. Here are a few.

John Thain left Merrill Lynch with his reputation in tatters in the credit crunch, but his business acumen is still in demand. And he is not the only one, reports Stephen Foley

Some of the continent's leaders used the US financial system to protect millions of dollars

HSBC has strongly defended itself against a US Senate report into foreign corruption and US interests which is critical of the bank's lax anti-money laundering measures.

Optimistic investors force governments to act

US Outlook: There ought to be a legal defence of crime passionnel for executives accused of fraud.

Ken Lewis, the retired boss of Bank of America, and the company's former finance chief Joe Price have been charged with fraud over their handling of the acquisition of Merrill Lynch during the financial panic of 2008.

Uncertainty over the future shape of the banking industry and the leadership of the US Federal Reserve is threatening renewed volatility in financial markets and casting doubt over the global recovery, economists and traders are warning.

The telecoms group Cable & Wireless was among the few blue chips to close with gains last night, outperforming the market as bargain hunters piled in.

Morgan Stanley and Bank of America results disappoint stock market

Insurance issues were in focus last night, with Admiral leading the way as traders bought in amid hopes of a recovery in earnings.

Hopes of recovery boosted the construction materials company Wolseley last night as the FTSE 100, dragged down by a sell-off in the mining sector, veered sharply lower.

Stake in rival may repair relations with customers

Russian billionaires Andrey Melnichenko and Sergey Popov have resurrected plans for a $9bn listing of Suek, the world's fifth-biggest coal exporter, on the London Stock Exchange.