Bloomberg reports that shares in Nomura Holdings hit a 28-year low in Toyko trading Monday, after the firm posted a 96% fall in quarterly profit last week.
Reuters reports that Standard Bank CEO Jacko Maree told a news conference last week: 'As a responsible management team, you have to do something (to rein in expenses when times get tough)...We have taken the knife out everywhere'.
CNBC reports that Goldman Sachs is considering paying out its 2010 bonuses prior to the year-end in a move that would enable US-based employees to take advantage of existing tax rates there.
Another day, another whistleblower.
MarketWatch reports that JPMorgan and HSBC have now been subjected to two lawsuits filed in New York, which claim that the firms have engaged in amassing 'enormous short positions' in order to manipulate the price of silver.
The New York Post reports that Terra Firma private equity boss Guy Hands has explained away the fact that he didn't keep notes about conversations he had with Citi investment banker David Wormsley by confirming that he is 'dyslexic and dyspraxic'.
Here's Standard Bank's press release on its recent operational review and the resulting cost cutting.
Here's something sent in by one of our readers.
By Michael W. Hudson
The London Evening Standard's 'City Spy' column ran an interesting little gem about a graduate who apparently got a hazing soon after starting work at Goldman in London.