Daily Dispatches: Major reforms to Chinese financial sector seem unlikely this year

A top-level meeting of Chinese policy makers to discuss China's financial sector ended with few signs Beijing is gearing up for the type of sweeping reforms sparked by such meetings in the past. (Wall Street Journal)

Recruiters for rivals often woo Merrill Lynch's army of financial advisers with mixed results. This year, they are more hopeful they can poach top revenue producers – and even entire teams of wealth managers. (Reuters)

UK prime minister David Cameron pledged in his New Year message to “tackle excess in the City” this year. He said: “A few at the top get rewards that seem to have nothing to do with the risks they take or the effort they put in.” Bonus payments will drop this year. (Financial News)

Manmohan Singh, India’s prime minister, has cut his forecast for his country’s economic growth rate to 7 per cent this year signalling a sharp slow down in the world’s fastest growing large economy after China. (Financial Times)

Who earns as much as a minister in Singapore? (Asia One)