From Mr Peston:
Talking to bankers and lawyers, there is growing optimism that the City of London will join Hong Kong as an offshore centre where the Chinese currency, the renminbi (RMB), can be traded - and that an announcement on all this may not be far off.If that were to happen, it would be quite a big deal - and would be the culmination of talks between the UK Treasury and the Chinese authorities that are said to have made significant progress on this issue last autumn.
More export earnings for London showing yet again how important it is to our economy:
One City figure close to the talks told me he thought there would be a billion pounds of extra business and significant new jobs created almost overnight.
Stick that in your pipe, Occupy London and the other 'banker bashers'.