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A new UK national infrastructure bank, announced by the government on Wednesday, is set to be up and running quickly, although details remain thin on the ground. While framed around infrastructure, a big part of its mandate could relate to the country's net zero carbon plans.

MUFG is overhauling personnel and its business model to try to escape a cycle of low returns, writes David Rothnie.

Stuart Taylor, who helped set up bond market data business Algomi, has joined MUFG's global markets business as head of electronic trading.

Bond Origination Technologies (Bots), a new tech company that aims to automate pricing indications in the primary debt capital markets, has completed an initial fundraising round and formed an advisory board ahead of a launch next year. GlobalCapital spoke to the founders to find out more about the product.

DirectBooks, led by nine global investment banks, has announced the launch of its core service to streamline communications in the primary issuance process for corporate bond deals.

The European Union faces its bitterest internal conflict yet, with member states drawing battle lines over the receipt of EU funds becoming dependent on states adhering to the rule of law. The conflict risks delaying or sinking the EU’s recovery fund, but capitulating would weaken its ability to oversee how the money is used, writes Lewis McLellan.

UK aerospace company Rolls-Royce managed a smooth landing for its mid-pandemic equity raise despite turbulence within its inner circle of advisers. It was a triumph for strong management, writes David Rothnie.

Deutsche Börse has beefed up its offering in sustainable finance and corporate governance services through purchasing a majority stake in ISS, the ESG data and analytics provider.

As investors sought gold and silver as a hedge against inflation and uncertainty, investment banks with the capabilities to act in these markets benefitted. Some made more than $100m in precious metals in the third quarter, according to Coalition Greenwich.

Boris Johnson, UK prime minister, announced on Tuesday night a 10 point plan for the environment, including phasing out petrol cars by 2030. But policy specialists are disappointed that the plan lacks financing commitments and especially that there is no announcement of a national investment bank.

The EU recovery fund has hit a major obstacle in its journey to capital markets. Hungary and Poland have vetoed the "own resources decision", which would allow the EU to access the bond market on its own account.

Gregg Lemkau is leaving Goldman Sachs at the end of the year and will head up an alternative investment firm linked to tech entrepreneur Michael Dell. Jim Esposito will take over as joint head of the investment banking division at Goldman.