Bloomberg reports that WestLB has confirmed that its first-half profit fell 70% to $86m, after $410m in writedowns on the value of government bonds and 'similar assets'.
There's been plenty of examples of inappropriate or seemingly stupid e-mails sent internally or externally by financial markets professionals over the years.
The numbers are relatively small, but another firm has already come out and confirmed that it is starting to lay-off staff.
Speculation has been mounting over the last few days about the identity of the mortified banker who, last week, received private pictures in her work inbox of herself giving pleasure to a male partner (can you imagine opening up an e-mail and seeing that!). The banker apparently carried the pictures around in a memory stick, which was somehow accessed by a person (or persons unknown), who maliciously sent them to her boss and several work colleagues.
The news late last week that an employee of JP Morgan Cazenove is said to have been suspended for allegedly sending out an e-mail in which he boasted about his s.x life is just incredible. Incredible not because a young hot-blooded male is boasting about his exploits, but incredible because he is believed to have used his work email address to send out the communication. Just when will staff learn that they are playing with fire when they do things like this ?
The jungle drums have been beating for a few days now. Rumours began surfacing that all was not well over at Barclays Capital, and that the firm was preparing to axe jobs in response to a fall off in business revenues and increasing staff costs.
A number of top firms, including Bank of America Merrill Lynch, Goldman Sachs and JPMorgan, went through the first-quarter of 2010 without posting a single day of trading losses. Things were a bit tougher in the second period, though.
Speak to any experienced recruiter, and he (or she) will admit that things are a little worrying on the job front at present.
Bloomberg reports that Moscow-based traders are finding it impossible to work in the City at present, as the smoke from wildfires caused by Russia's current heatwave continues to wreak havoc.
The Daily Telegraph reports that the UK's Office for National Statistics has revealed that City bonuses increased 10% to $15.9bn for the period December 2009 - April 2010.