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Slam Dunk Billionaire

Reuters reports that Raj Rajaratnam, the biliionaire founder of hedge fund Galleon Group, and five others, have been charged with engaging in what has been claimed is the biggest insider trading scandal involving a hedge fund ever.

Firm Said To Double US Headcount

The Financial Times reports that Nomura International is to double its US headcount, as Nomura aims to make good on its promise to become a top five global investment bank.

Protesters Picket Bank's London HQ

Bloomberg reports that Royal Bank of Scotland's London HQ building in Bishopsgate was picketed by protesters Tuesday, who were angry at the bank's investment in fossil fuels.

Top Firm Said Planning Hiring Spree

The Wall Street Journal reports that Morgan Stanley is planning to hire as many as 400 traders and salespeople in the coming months, as it increases its appetite for risk in a bid to generate bigger profits (the firm has lost money in its last 3 quarters).

Top Firm Rocked By 'Massive, Premeditated Raid'

Raiding the Piggy Bank

Bloomberg reports that UBS has lost almost all of its healthcare investment banking team, including boss Benjamin Lorello, to Jefferies Group, in what is being described as a 'massive, premeditated raid'. At least 36 staff in the group are said to have quit between June 17th and June 21st.

Tragedy Strikes Financial District Again

Elevator Panel

Tragedy struck Canada's financial district Wednesday, after 8 people (7 from law firm McCarthy Tetrault and a messenger who was meant to be passing through) were caught in a lift in the Toronto Dominion Bank Tower in downtown Toronto.

AIG CEO's Resignation Letter

Edward Liddy, AIG's CEO, confirmed that he was stepping down last week. He told Reuters that the job was 'easily one of the most challenging jobs in the world of insurance, but add in the public scrutiny, and it becomes a different order of magnitude'.



Japan Flag

Mt.Gox CEO: 'I'm still in Japan, don't bother staff'

Mark Karpeles, the CEO of embattled bitcoin exchange Mt.Gox, has tried to dampen speculation regarding the company, confirming that he has not left Japan - where the exchange is based - amid reports that regulators are investigating the exchange.