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Lunch Wrap

On FT Alphaville Thursday morning,

- Punch drunk at Punch Taverns.

- The return of merchant banking.

- Fishing for QE clues.

- Cisco-Tandberg: bump, dump or trump?

- Greenback down, Aussie up.

- Spanish banking crises, then and now.

- How the Basel II capital cliff begets resecuritisation.

- The Eurozone also rises.

- Financial collapse in one sentence in Further reading.

- Charts to take stock of it all in Pink picks.

- Watching Sainsbury soar in Markets Live.

On FT.com,

- Xstrata walks away from Anglo bid.

- RHJ to buy Kleinwort Benson for £225m.

- AB InBev sells central Europe assets to CVC.

- Crude oil at fresh year high over $75.

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