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Top Firm May Have No Choice But To Axe Jobs

Job Axe

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.

Hands & 'God'

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'.

Morgan Stanley Posts Net Loss

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.

Goldman's Q3 Earnings

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.

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A win for UBS in job cuts case

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.

London

London city jobs at record high

TheCityUK’s new London Employment Survey, released Monday, shows that the financial and related professional services industry has continued its strong recovery.