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Bankers Worry That Bonus Pots Are Shrinking

Dried Chilli

It's about this time of year when bankers head for a beach somewhere and take time out to ponder what they will do with their next bonus. With payouts for some of the bigger US firms now just over 4 months away, the summer break is usually a good time to start thinking about how your next wad will be spent. This year, however, it might be better to wait before you get too carried away.

Firm Fires CEO Over Trading Losses

Bloomberg reports that WestLB has fired CEO Thomas Fischer following those $334m trading losses sustained by the bank's equity-trading desk sustained earlier this year by speculating on the difference between ordinary and preference shares in Metro, Volkswagen and BMW.

Trader Faces $30m Fine

All fun and games this week for Brian Hunter, the trader who is said to have been responsible for the $6bn losses sustained by hedge fund Amaranth Advisors following wrong-way bets on natural gas prices last year.