Reuters says that there are press reports circulating to the effect that Goldman Sachs has had to delay telling employees their bonus numbers. Bonus announcements are said to have been originally planned for Monday, but they are now thought to have been pushed back, and staff may not now be told until the end of the month.
The Financial Times reports that Credit Suisse has told 400 UK-based Managing Directors that it is cutting their planned bonus payouts by up to a third in order to take into account the UK bank payroll tax. The firm is also said to have cut the global bonus pool by 5%.
Goldman Sachs posted its fourth-quarter earnings Thursday. Net income came in at $4.95bn.
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President Obama's vague announcement that he intends to limit the size of banks and reduce risk by effectively banning prop trading was predictably received by Wall Street with dismay.
The Business Insider reports that speculation is mounting that several unnamed 'senior financial executives' are looking at the possibility of mounting a bid to buy Merrill Lynch back from Bank of America.
The New York Times reports that time is running out for Citi CEO Vikram Pandit, as the company posted a $7.6bn loss in the fourth-quarter. Citi made a 2009 full-year loss of some $1.6bn.
President Obama continued his campaign to destroy Wall Street Thursday, issuing a statement which confirmed he will be moving forward to limit the size of banks and the scale of the risks they undertake.
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With some of the biggest bank's in the world donating just $1m for the Haiti relief effort (yet paying bilions out in staff bonuses), Jefferies & Co has shown what can be done when you put your mind to it.