Mr Llewellyn also questions the theory that building-society conversions will herald a wave of takeovers, leading to efficiency gains as overcapacity is cut.

ECONOMIST: Building societies

Second, does her victory, as the first woman to lead one of France's main parties, herald a new wave of French women at last grasping their fair share of political power?

ECONOMIST: The French Gaullists�� new lady

The apparent co-ordination of the attacks, coming so soon after Lahore and the Taliban warning, could herald a new wave of violence in Pakistani cities, says the BBC's Barbara Plett in Islamabad.

BBC: Peshawar tense in bombs aftermath