Top 10 US firm Sidley Austin Brown & Wood is on course to become one of the few American firms to break the $1bn (£538.5m) barrier as the national giant unveils record results for 2003.

The Chicago-based firm edged towards the landmark figure with 2003 fee income up 11% to $926.2m (£498.7m), against the previous year’s $830m (£447m).