This will open the floodgates. Expect more firms to come out with similar messages soon.
It's squeaky bum time over at MF Global.
In some respects, it's no surprise.
CNBC's John Carney does an excellent job explaining the underlying trading idea that proved one trade too far for MF Global.
Here's a few links to some interesting Bloomberg, New York Times and Reuters stories currently doing the rounds.
Here come the Feds (it seems).
Here's a note of 9 top firms currently undertaking cost-cutting programs.
Here's a few links to some interesting Bloomberg and New York Times stories currently doing the rounds.
Here's a quick look at what firms are / have been doing on the job cuts front so far this year.
Next sop for the brightest and the best ?
Guggenheim Partners sold its multistrategy hedge fund to a group including the former co-head of Royal Bank of Canada’s capital-markets division. Terms of the transaction weren’t disclosed.
Jeff Gundlach's DoubleLine Capital is raking in cash despite uncertainty about the bond market.