This cash has the potential to add a lot of momentum to the markets and to the economy in the form of increased dividends, share buybacks, mergers and acquisitions activity and capital expenditures.

FORBES: Five Fundamentals Driving Current Stock Market

One of the most successful mergers in pharmaceuticals, between Sandoz and Ciba Geigy to form Novartis, was between two firms whose closeness of approach was the greater for being based in the same Swiss town (and doubtless run by chaps who had done national service together).

ECONOMIST: How to make mergers work

Mr Condit refuses to rule out transatlantic aerospace mergers, although he notes that firms may find it easier to form alliances or joint ventures instead.

ECONOMIST: Aircraft manufacture

In one of several university mergers to have taken place recently, four institutions in the city of Hangzhou have been merged to form Zhejiang University, China's largest.

ECONOMIST: China: A revolution in learning to think | The