For the uninitiated, a souk is an outdoor market in an Arab city where you go and get vegetables, spices, cows, goats, donkeys, dates, olives, and all manner of edible delights.
The Times reports that, according to a new report said to be published today, 90% of City traders could face the axe by 2015, as 'all-electronic algorithmic trading' comes more to the fore and traders find that they are surplus to requirements.
The Times reports that clients of London-listed hedge fund Man Group have lost around $280m due to the 'implosion' of hedge fund Amaranth.
Bloomberg reports that Morgan Stanley is offering its top bankers and traders millions in incentives to stay at the firm. When John Mack returned to Morgan Stanley as CEO 15 months or so ago, perhaps his most important task was to stem the flow of talent out of the firm. That he did, but he clearly wants to make sure that this problem does not resurface.
The Financial Times reports that Citibank has sued the former manager of its Singapore brance, Jonathan Seah, alleging that he e-mailed 149 attachments to a personal e-mail address ahead of leaving the firm for the local UBS private banking operation.
Bloomberg reports that a report published last week predicts that Wall Street's finest will see their US earnings fall away by around 20% in 2007.
Bloomberg reports that Bank of America has agreed to pay $7.5m to settle Manhattan District Attorney Robert Morgenthau's recent money-laundering probe.
And on offer to the winner of this month's Best Loved Hotels Hotels Quiz was a two night stay for two (including breakfast and dinner on one of the days) at the fabulous Lords of the Manor hotel in the Cotswolds.
Here's a brief article written for us by Raj Tulsiani, the CEO of Green Park, a specialist Interim Management company.
The Guardian reports that lawyers are predicting a raft of age discrimination claims are likely to be lodged by middle-aged bankers on the back of the age discrimination legislation which comes into effect in the UK on Sunday.