Deutsche Bank

By Megan Murphy, Justin Baer, Francesco Guerrera, Patrick Jenkins, Jeremy Grant, Martin Arnold and Sam Jones

Equity Derivatives – the key determinator for IB wallet growth.

We analyse in detail the key sub-business segments within equity derivatives and their potential IB revenues impact. We conclude equity derivative business is to grow 9% CAGR 2010-2012E – the fastest growth within all IB client flow related businesses assuming 5% CAGR equity market performance in 10-12E.

June 2 (Bloomberg) -- Wood is becoming a hot commodity in a new low-carbon world.

Power companies are burning more trees because the renewable fuel can be cheaper than coal and ignited without needing permits to release carbon dioxide, the main greenhouse gas blamed for global warming.

In the highly unlikely event that Goldman Sachs loses $500m in its fourth quarter, which closes this week, it is sobering to think that it would still make record profits this year. Despite mediocre market conditions, a mild slowdown in the fixed-income markets, and the failure of the equities and merger and acquisitions businesses to recover, Goldman Sachs made more money in the first nine months than in any previous year.