Ten years ago last Wednesday marked the start for many observers of the global financial crisis – a series of rolling credit shocks and bank crashes that led to the deepest world recession for a generation and a decade of slow growth and painful repair. On Aug. 9, 2007, the European Central Bank flooded its money markets with billions of euros of emergency cash to prevent a seizure in the European banking system after France’s BNP Paribas became the latest to shut down investment funds hobbled by a collapse of U.S. mortgage and asset-backed bond markets. Serial bank collapses in

Jefferies just gave Wall Street a bit of reassurance. The investment bank housed inside the $9 billion conglomerate Leucadia National revealed that it more than doubled revenue in the three months ended Feb. 28 thanks to its fixed-income trading and underwriting operations. The first batch of 2017 results suggests that with the Federal Reserve’s tightening and the yield curve steepening, trading engines across the industry should be firing on many cylinders. Buying and selling stocks and bonds alike powered the performance at Jefferies. Revenue from the business nearly septupled, to $379 million from a year ago. The business of advising

Education could be the big trade of 2017 for investment banks. No European city has as many international school places as London. That’s a problem for firms thinking of shifting staff out of the UK capital following the referendum to quit the European Union. The solution is for banks to get into the education business themselves. In London, bankers can choose from a wide range of state-funded, private and international schools when deciding where to send their offspring. In other European countries, however, English-language education is more limited. Madrid has 20 schools that meet the U.S. government’s approval. But Paris