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More Bonus & Job Loss News

Bloomberg reports that there's a big backlash on Main Street about the so-called Wall Street bailout. The news agency says that the majority of Americans feel that bankers should get NO bonuses at all this year.

Will They Know It's Bonus Time ?

My, how times change. This year the equity boys will be doing rather better on the bonus front. But here's what we were singing this time last year -  to the tune of Band Aid's 'Do They Know It's Christmas'.

More Job Cut News

As rumours fly that JPMorgan and Morgan Stanley are likely to ask between 10 - 15% of wholesale banking staff to leave, Reuters reports that both Citi and Goldman Sachs were busy cutting heads last week.

Pressure Mounts For Return Of Top Firm Bonuses

The Financial Times reports that Peter Wuffli, the former CEO of UBS, has agreed to forfeit some $10m in bonus payments he is due to receive. Wuffli told Swiss weekly newspaper NZZ am Sonntag: 'I had been thinking long and hard about this step. For me this is a personal decision. High payments to top managers at a company that is in difficulties can't be justified'.

Latest Other News In Brief

Reuters reports that the board at AIG has been busy meeting with US Treasury officials to thrash out a change in the terms of the bailout of the insurer. Under the new plan, the US government is thought likely to buy $40bn in preference shares, which should ease the cash pressure on the firm and give it additional time to sell assets to repay government loans.