Bloomberg reports that July and August were two months that investment banks would most likely want to forget, and that only an 'off-the-charts' September will be good enough to save this quarter.
The Guardian reports that Guy Hands's private equity firm, Terra Firma, has filed court papers in New York accusing Citigroup of fraud, claiming that it was tricked into buying music company EMI in 2007.
Here's a press release from HSBC.
Barclays has announced that John Varley intends to step down as Group Chief Executive, and from the Barclays Boards and the Group Executive Committee, on 31 March 2011, and that he will be succeeded by Robert E Diamond Jr.
CEOs of the 50 US firms that have laid off the most workers since the onset of the economic crisis took home 42 percent more pay in 2009 than their peers at S&P 500 firms, according to 'CEO Pay and the Great Recession', the 17th in a series of annual Executive Excess reports from the Institute for Policy Studies.
The Financial Times reports that UK Chancellor George Osborne has said that he will press on with plans to make banks reveal publicly the number of employees who make in excess of £1m ($1.54m) a year, despite media reports that he is 'losing his nerve' following pushback from City lobbyists, who claim that publication of the numbers will in some way enable competitors to work out how much individual bankers are earning.
Here Is The City can exclusively reveal that London Mayor Boris Johnson is dusting off a revolutionary plan to get Londoners to work on time, overcoming all the issues related to strikes on the tube network, signal failures and other delays which cost billions in lost productivity.
Bloomberg reports that, according to unnamed 'people with knowledge of the decision', Goldman Sachs is to close its 65 / 70-person prop trading unit in order to ensure early compliance with new US financial regulation legislation.
Around this time of the year we ask for readers who are prepared to share any of their 9/11 experiences to send in their posts.
Here's the latest on the 'Movers & Shakers' front.