Here's something from the mouth of Barclays CEO Bob Diamond earlier this week:
WASHINGTON – The Financial Industry Regulatory Authority (FINRA) has announced that it has fined Citigroup Global Markets, Inc. $500,000 for failing to supervise Tamara Moon, a former registered sales assistant at the firm's branch office in Palo Alto, California. Over an 8 year period, Moon misappropriated $749,978 from 22 customers, falsified account records and engaged in unauthorized trades in customer accounts.
Here are some links to a few interesting BBC, Bloomberg and CNBC articles currently doing the rounds.
Hmmmm. This one really does sound too good to be true.
It's a good job that Carlos Slim is the richest man in the world - how else could you afford to lose $8bn of your net woth in 4 short days ?!
Mohamed El-Erian, chief executive officer at Pacific Investment Management Co., talks about Standard & Poor's downgrade of its U.S. credit rating and the outlook for financial markets.
The Telegraph reports that, according to some of its headhunting sources, 'where private sector companies in a range of industries would have once jumped at the chance of hiring ex-bankers, many now will not touch them with a barge pole'.
Reuters reports that Royal Bank of Scotland CEO Stephen Hester confirmed last week that an additional 2,000 investment banking jobs would go in the next 12 - 18 months.
With Anshu Jain off to become co-CEO at Deutsche Bank, bets are on as to who will replace him as head of the bank's corporate & investment banking unit.
In case you missed it, here's last week's top stories.
Low oil prices and inflation will help Britain record its fastest growth since the financial crisis, according to the CBI.
HSBC has published a full-page advert containing an apology in several newspapers, over claims that its Swiss private bank helped clients evade tax.
China Minsheng Investment (CMI), the country's largest private investment fund, said on Saturday it would invest 1 billion pounds ($1.5 billion) in a Chinese-led project to develop a new financial district in London.