Daily Dispatches: will China need to bail out its banks?

China may be forced to bail out banks that made loans for local-government projects under the unprecedented stimulus program unleashed in 2008, according to Citigroup and Northwestern University's Victor Shih. (Bloomberg)

Hong Kong has come in third in a global ranking of 75 financial centres - behind London and New York, which tied for first place. (938 Live)

AIG will deliver about US$46m in bonuses today to former employees of the bailed-out insurer's derivatives trading unit, said a person briefed on the company's plans. (Bloomberg)