Just a quick e-mail to thank all our readers for their support last month. We hit a new record-high - 167,423 unique users visited our News site, up from 116,652 in February.
The news is mixed about the future prospects of the markets. Some feel that the news this week that UBS has finally got out in front of its subprime problems and that Lehman has put to bed any doubts about its own liquidity position mean that the worst is over. Others are not so sure.
Lehman Brothers boss Richard Fuld appears to be a man on a mission.
It wasn't just UBS making the news Tuesday. On the day that the Swiss bank announced a $12bn first-quarter loss after some $19bn of asset write-downs, other firms too were hitting the headlines.
We thought it would be interesting to see how good our readers are at predicting where the equity markets were heading in the first quarter.
Another shoe dropped this April Fool's morning and, as expected, it was at UBS.
Here the statement issued early Tuesday by UBS on chairman Marcel Ospel, who is stepping down because of the firm's recent financial results.
Here's the statement UBS issued early Tuesday.
Bear Stearns (unsurprisingly).
You gotta love those good old boys over at UK market regulator The Financial Services Authority (FSA). Every time there's a crisis they come out and up the salaries for their staff in order to attract the City's best. Talk about closing the stable door after the horse has bolted! Wouldn't it be better to hire the brightest and best in order to ensure that a crisis doen't occur in the first place ?!
Financial firms in London, besieged by Europe’s sovereign-debt crisis, probably will shrink their workforce this year, snapping a hiring rebound from 2008’s credit crisis as New York’s industry ekes out job growth.
JPMorgan board member Lee Raymond is said to have been tapped on the shoulder to lead the board's probe into the firm's $5.8bn 'London Whale' trading fiasco.
Deloitte partner Daniel Pirron's body was discovered in Trumbull, Connecticut last Monday, next to a rented SUV with out-of-state plates. There was a single gunshot wound to his right temple, according to police. Pirron's family believe that his death is linked to the Standard Chartered money-laundering scandal.