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Top Bank Staff Said In Drug Ring Probe

Say No To Drugs

The Herald Sun reports that up to 14 former staff over at Australia and New Zealand Banking Group (ANZ) are under investigation for involvement in a narcotics syndicate which was allegedly based in the bank's debt-collection department.

UBS & Credit Suisse Thought To Face Headwinds

The New York Times 'Deal Book' column reports that Rochdale Securities analyst Richard Bove has downgraded both Credit Suisse and UBS from a 'buy' to 'neutral', citing the 'deteriorating situation in Europe's financial community'.