Treasury Orders Probe into Banks and Outrageous use of Bailout Money

The Treasury has ordered an inquiry into how banks are managed, Chancellor Alistair Darling has stated. Gordon Brown insisted Thursday that there should be "no reward for failure".

RBS, bailed out by £20bn by the government last year, will pay up to £1bn in bonuses to its 177,000 staff.

In Asia, Nomura has opened and equity sales, trading and investment banking office in India, which is becoming increasingly important for Japanese companies. For example, Nomura advised Daiichi Sankyo acquired generic drugs maker Ranbaxy in 2008.

Ranbaxy started its research program in the late 1970s.