US judicial authorities have had to move Bernie Madoff's sentencing hearing to a bigger Court Room to accomodate the media and the large number of disgruntled investors who are expected to turn up.
While most of us worry about our jobs, and the mundane things in life like paying the mortgage and clothing the kids, Credit Suisse CEO Brady Dougan is no doubt stressing over the $970,000 he has been ordered by a Connecticut appeals court to pay his ex-wife for being 10 days late with the final instalment of his divorce settlement.
The Financial Times reports that, despite receiving a $4.4bn bid from private equity firm CVC Partners for its iShares unit, Barclays could end up selling the whole of its Barclays Global investors business to either Bank of New York Mellon or BlackRock.
Here's a copy of an e-mail sent to State Street staff earlier this week.
As some of you who work at firms with Postini firewall protection occasionally have problems receiving our regular News E-Mail alerts, there's now more than one way to access Here Is The City.
Morgan Stanley has been fined $2.1m by UK financial market regulator The Financial Services Authority (FSA), after London-based credit trader Matthew Piper was found to have mispriced his trading book and successfully hid losses for a period of up to 6 months. The firm evenutally repriced his positions by some $120m.
Here's the latest contribution from a reader who wants to share his recent redundancy experience.
Documents acquired by US public-interest group Judicial Watch by means of a Freedom of Information request demonstrate that former US Treasury Secretary Hank Paulson gave nine US banks no choice but to accept billions in equity injections last October, when the markets were reeling after the fall on Lehman Brothers.
Those bankers currently working for bailed-out US banks who think that their financial wellbeing might be better served by going elsewhere, might want to think again. And that's because the Obama administration is now said to be looking at extending prudent financial market pay policies beyond firms with TARP funding.
Mizuho Securities Co and Barclays Capital.
The UK Government signalled its growing anger over European Union plans to impose a cap on pay for bankers over the weekend when a senior minister with close ties to the Chancellor said that hundreds of thousands of British jobs were being put at risk.
Convicted UBS trader Kweku Adoboli asked a British appeals court to overturn his seven-year prison sentence for causing a $2.3bn loss through unauthorized trades.
When a 32-year-old dotcom multimillionaire known for his "goofball" approach to business is fired, the chances are he is not going to slip out the back door, hanging his head in shame.