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Goldman Said Likely To Lose Billions

The Wall Street Journal reports that 'industry insiders' are now expecting Goldman Sachs to post a fourth-quarter loss of as much as $2bn. And analysts are now saying that the firm is likely to take writedowns on real-estate and leveraged loan assets, as well as its stake in the Commercial Bank of China, which fell around 28% during Goldman's fiscal-fourth quarter.

More Investment Banking Jobs To Go

Reuters reports that Credit Suisse is to axe another 650 jobs in its investment banking unit across the UK. Prop traders and support staff are thought likely to be among the casualties.

Top Firm Cuts Severance Package

Severance Town

Citigroup staff are just beginning to realise how tough things are likely to become post government bailout. Long-time US staff were advised Monday that the firm is to eliminate its enhanced severance package for employees with 10 or more years service.