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.
Tottenham Hotspur impressed in their 1-1 draw with Real Madrid on Tuesday night.
Tottenham Hotspur surprisingly went with two strikers against Real Madrid in midweek.
Tottenham Hotspur are heavily linked with the Barcelona midfielder.
Leeds United's Jay-Roy Grot deserves a chance up front on Saturday.
Mauricio Pochettino’s Tottenham Hotspur and Jurgen Klopp’s Liverpool will face each other at the Wembley Stadium in the Premier League this weekend.
Tottenham Hotspur drew with Real Madrid in the Champions League on Tuesday.
The Leeds United loanee is allegedly unhappy with some of their recent performances.
Everton boss Ronald Koeman is currently under pressure at Goodison Park.
Mauricio Pochettino’s Tottenham Hotspur drew with Real Madrid on Tuesday.
Liverpool won against NK Maribor in the Champions League on Tuesday evening.