China will overtake London and New York by 2025 to become the preferred destination for companies around the world to raise equity capital, according to a survey conducted by PricewaterhouseCooper. (Finance Asia)

After a year of smooth and spectacular growth, the offshore renminbi market in Hong Kong is no longer complying with the bullish expectations of analysts. Instead, it has started to cause problems for banks and investors. (Financial Times)

Mark Machin is leaving Goldman Sachs after 20 years with the firm to join a major buy-side organisation, according to a source and an internal memo. (Finance Asia)

Citigroup, the third-biggest US bank, told regulators that 413 employees may be dismissed in New York City as the firm starts 4,500 job cuts announced last week. (Business Week)

UK Prime Minister David Cameron’s decision last week to veto a new European Union treaty aimed at solving the euro-zone debt crisis puts a spotlight on the slew of pending legislation in Brussels aimed at the EU-wide financial-services sector—and the stakes for London’s financial sector if it isn’t able to influence it. (Wall Street Journal)