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Daily Dispatches: Got a spare $100m? You’re now more likely to be Asian than American, says Citigroup study

The number of Asians with at least US$100m in disposable assets overtook North America’s tally for the first time as the world’s “economic center of gravity” continued moving east, according to Citigroup. (Bloomberg)

As more companies are releasing their 2011 earnings, the list of companies lining up to take advantage of the strong start to the year in the secondary markets is growing. The latest in the row is Hong Kong-listed sourcing company Li & Fung, which last night raised HK$3.91bn (US$504m) from a top-up placement. (Finance Asia)

Goldman Sachs won’t face a union challenge to Lloyd C. Blankfein’s dual role as chairman and chief executive officer after agreeing to appoint an independent board member as “lead director”. (Bloomberg)

Australian banks are in relatively good shape although conditions are widely divergent across the economy, and the number of business failures and debt defaults is now above the norm, the country’s central bank said today. (The Australian)

This week a second member of the convicted trio of British bank fraudsters who style themselves “The NatWest Three” has broken his silence and published a book about his experiences – A Price To Pay: The Inside Story of the NatWest Three. (Guardian)

China Life Insurance plans to complete issuing 38bn yuan of subordinated debt this year. (The Standard)

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