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Firm Boss Sees A Halt In Job Cuts

Yugo Ishida, the man who runs Nomura International, is said to have told Reuters at the World Economic Forum at Davos that he doesn't feel that his firm will be making any further jobs cuts in the foreseeable future. The firm has laid-off around 1,100 staff since September.

Can You Believe It ? You Could Not Make This Up!

Banco Santander seemed to be between a rock and a hard place, allegedly praising Bernie Madoff's investing prowess just a few weeks before he confessed to that $50bn ponzi scheme (the bank described Bernie's timing as 'impeccable'). It's no surprise, then, that the bank is now offering $1.8bn to private clients to cover their losses and put the matter to bed.

Top Firm CEO Handed Out Blood Pressure Machines To Deputies

Bloomberg reports that Morgan Stanley CEO John Mack, ever-the-prankster, handed out 'electronic blood pressure machines with Velcro wristbands' to three of his deputies last September. Mack and his cohorts doubtless needed the machines over the coming weeks, a time when some felt that the firm was close to collapse.

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The Pope

The Pope Resigns

Pope Benedict said on Monday he will resign on February 28 because he no longer has the strength to fulfil the duties of his office, becoming the first pontiff since the Middle Ages to take such a step.