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Lehman Finds Its Voice - At Last

Lehman Brothers Logo

Lehman Brothers released its third-quarter earnings a week early Wednesday, in response to a 45% fall in the firm's stock price yesterday. The firm also outlined its survival strategy.

How NOT To Lay-off Investment Bankers

You're Sacked by Phone

As staff at Dresdner Kleinwort mull over their future employment prospects, many will no doubt be interested as we recall the last major investment banking job cull undertaken by Commerzbank - the hundreds of jobs that went in London in 2004, when the bank decided to refocus its securities business.

Credit Agricole Confirms Calyon Job Losses

Credit Agricole came out Wednesday and revealed details of its new strategic plan for Calyon, its investment banking unit. The plan confirms 500 job losses at the unit, a EUR 300 million cost-cutting exercise, a strengthening of risk management and the exit of high-risk capital markets activities.

Another Firm Said Likely To Cut 1,200 Jobs

Reuters reports that French newspaper La Tribune has reported that Calyon, the investment banking arm of Credit Agricole, could announce up to 1,200 job cuts this week, when the bank announces its new strategy for the unit.

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Barack Obama Smiles

Obama - Four More Years

Barack Obama, the post-partisan candidate of hope who became the first black U.S. president, won re-election today by overcoming four years of economic discontent with a mix of political populism and electoral math.