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.
The 23-year-old doesn't look like he's leaving Tottenham Hotspur any time soon.
West Ham United’s Robert Snodgrass is reportedly wanted by Leeds United and Newcastle United among other clubs in the summer transfer window.
Will Leeds United finish in the top six of the Championship next season?
Aston Villa have not brought the reported Leeds United and Sunderland target to Germany.
Newcastle United could make a late play for one of West Ham United's primary transfer targets, according to reports.
A round-up of Friday's transfer news involving Newcastle United.
Ibrox side Glasgow Rangers should consider the Aston Villa man.
The Manchester City man is reportedly close to sealing a switch to Leicester City, but Newcastle United should consider gatecrashing the party.
Matthew Pennington has joined Leeds United from Everton on a season-long loan deal in the summer transfer window.
The Celtic boss backs Tom Rogic to score over 15 goals this season.