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LATEST

Goldman Sachs Reveals List Of New Partners

Goldman tapped 94 folks on the shoulder and invited them to become partners in the firm. The number is down from the 115 who were named two years ago. Whether being a Goldman partner is still a ride on the gravy train, however, remains to be seen.

More Job Loss News

Bloomberg reports that Credit Suisse has confirmed that it is to axe another 500 investment banking jobs.

Top Firm Said To Take $400m Equity Derivatives Loss

Bloomberg reports that, according to 'two people with direct knowledge of the situation', Deutsche Bank has lost more than $400m on equity derivatives trades, almost half of the bank's second-quarter revenues from equity sales and trading.

Another Top Firm Cuts IT Contractor Pay

JPMorgan has joined the likes of BarCap, Deutsche Bank, Merrill Lynch, Nomura International and Royal Bank of Scotland and cut IT contractor pay. The firm is requiring IT contractors to take a 15% cut with effect from 1st November.

Staffer Scores Facebook Own Goal

Here's something that's been doing the rounds in the last few days. Further proof that you should be careful what you stick up on social networking sites - as you never know who's checking in.

Hedge Fund Said Drops $30m An Hour For The Last 26 Trading Days

Based on the size of holdings as per a June 30th 13F filing with the Securities and Exchange Commission, The New York Post reports that Eddie Lampert's hedge fund ESL Investments has seen its holdings in eight of its largest investments (including AutoZone, AutoNation, Citi, Home Depot and Sears Holding) fall an average of $193m in each trading day in the last 26, which translates into a paper loss of $30m an hour (allowing for a 6.5 hour trading day) over the period.

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UBS Fractured

UBS Pays Massive Fines To Settle LIBOR Probes

UBS announced today that its Board of Directors has authorized settlements with the US Department of Justice (DoJ) and Commodity Futures Trading Commission (CFTC) in connection with their investigations of benchmark interest rates.