Timid recovery in mergers and acquisitions internationally. According to preliminary data from the Dealogic company, the volume in mergers and acquisitions in the world banking sector only grew by 4% over a year in the first quarter of 2010, by almost $600 billion. The timid recovery can be explained by the wait-and-see attitude of companies that have merged since last year with regard to potential financial growth and reduced costs. The amount involved in these kinds of operations is down by 18% compared to the last quarter of 2009. The recovery in LBO-Leverage Buyout that begun at the end of last year has not been sustained in 2010. This kind of operation accounted for $24.9 billion in the first quarter of 2010 as opposed to $37 billion during the last quarter of 2009. In Europe, the volume of operations with European targets, however, sharply declined by 19% over the past year to 134 billion and by 37% compared to the last three months of 2009. Health was the most active sector at an international and European level and accounted for 14% of total mergers and acquisitions volume over the past quarter. Real estate and finance were other particularly active industries. First prize for banking consultancies in the world goes to Goldman Sachs with $172 billion in operations, following on its heels by Crédit Suisse ($169 billion). The latter is, on the other hand, in first place in Europe, followed by Goldman Sachs. (I.L.)