Despite Credit Suisse confirming that all its businesses were profitable in the third-quarter, there is a concern that investment banking headcount has got out of line with revenues, and fears are growing the firm may need to shed jobs in the coming weeks unless market conditions improve.
The Financial Times reports that private equity guru Guy Hands admitted in court Wednesday that 'probably 60 - 70% of my wealth is dependent on how EMI does'.
New York magazine reveals a rather strange exchange its staff had with Citi chairman Dick Parsons.
Here's UK Chancellor George Osborne's statement to the House on the results of the recent Spending View
Credit Suisse Group has reported net income of CHF 609 million in 3Q10 compared to CHF 1,593 million in 2Q10. Core net revenues were CHF 6,284 million in 3Q10 compared to CHF 8,420 million in 2Q10.
Morgan Stanley posted a $91m loss Wednesday, disappointing many in the market.
Morgan Stanley has reported a net loss of $91m for the quarter ended September 30, 2010. $229m was written down in the period related to costs associated with the planned disposition of Revel Entertainment Group.
Here's the latest entries in our Market Makers and Jobtalk blogs.
Here's a few interesting quotes we picked up from the press this week.
Goldman Sachs has reported net revenues of $8.90 billion and net earnings of $1.90 billion for its third quarter ended September 30, 2010.
UBS has won a London lawsuit filed by an asset management firm that said that investment banking job cuts at the bank undermined a joint venture.
TheCityUK’s new London Employment Survey, released Monday, shows that the financial and related professional services industry has continued its strong recovery.