Bloomberg reports that Daniel Gordon, Merrill Lynch's former chief energy trader, has pleaded guilty to money laundering and wire fraud and admitted he embezzled $43m from Merrill in 2000.
Few outside of Italy will have probably heard of Italian food multi-national Parmalat. That's about to change. Almost $5bn appears to have disappeared from the group's coffers and Bank of America has been pulled into the scandal. The affair is already being called 'Europe's Enron' in the press.
Can The Guardian be sending us all up ? Did JP Morgan staff receive a spoof e-mail ? Or worse, could the following actually be true ?
Robin Saunders, WestLB's star principal finance banker, is off. The move will surprise no-one. She will officially leave the bank at the end of the year and is said to be taking a deferred bonus of up to £1m with her when she goes.
Goldman Sachs, Lehman Brothers and Morgan Stanley posted strong quarter four figures last week. The firms' net revenues were up 91%, over 100% and 42% respectively on the same period 12 months ago.
Despite the news last week that Lehman Brothers had pulled back some jobs from India to the US, the firm has confirmed that it is not giving up on India and has plans to transfer more jobs there.
The Wall Street Journal reports that many are beginning to wonder what progress has actually been made integrating Credit Agricole and Credit Lyonnais following their merger earlier this year. The resignation last week of Credit Agricole's deputy chief executive, Dominique Ferrero, the man tasked with spearheading the merger, has made some think that not very much progress has been made.
CBSMarketWatch reports that the final settlement between Alliance Capital and US state and federal regulators may cost the firm as much as $600m. Alliance has been charged with secretly permitting certain clients to execute market-timing trades.
New Star Asset Management has purchased six retail unit trusts from Aberdeen Asset Management for over £90m.
West Ham United boss Manuel Pellegrini was quick to snap up Jack Wilshere this summer.
Crystal Palace winger Andros Townsend has been heavily linked with Newcastle United, with Rafael Benitez keen on bringing him to St. James' Park.
Celtic and Brendan Rodgers have made just two signings this summer.
One Rangers talent has made the step up... will another follow.
Tottenham Hotspur should gatecrash Arsenal's reported interest in the Bayern Munich winger.
Leeds United's striker search has reportedly taken them to Kasimpasa's Mbaye Diagne - will the Senegal hitman be in the Championship next season?
Glasgow Rangers will be hoping to book their ticket to the next stage of Europa League qualifiers after securing a win at Ibrox last time out.
Leeds United appear to be struggling to sign Matej Vydra, and the division that they are playing in is reportedly one of the reasons.
Everton boss Marco Silva is said to want to bring Ruben Loftus-Cheek to Goodison Park this summer.
Leeds United ace is excited for first pre-season game.