The Financial Times reports that UK government officials have admitted that the bank bonus tax, introduced on the fly last month, has failed to achieve its main objective, which was to encourage banks to strengthen their balance sheets rather than pay big bonuses to staff.
Here's a note of our most-read stories of 2009.
Here's the first collection of stories we think helped define 2009.
Here's a note of some of the business books we read last year.
Reuters reports that Credit Suisse has been sued for $24bn in damages by a group of real estate investors for allegedly lending money that it knew couldn't be repaid so that the firm could take over the properties when the inevitable defaults occurred.
In a series of interviews with Katrina Brooker, Citigroup founder Sandy Weill poured his heart out. The New Times has the article, and here are some interesting insights.
Here's a note of the top 20 subjects we covered in 2009.
MarketWatch reports that 'Morgan Stanley is reportedly putting the final touches on an annual bonus pot that represents the biggest percentage, 63.8%, of its revenues than any year in the last decade'.
The stories about Goldman Sachs relocating staff away from the City, in protest at the bank bonus tax and the 50% tax rate being introduced in April, just won't go away.
The arrest of one of Russia's richest men, whose empire spans oil production to the country's largest mobile phone network, could send further shockwaves through an economy already reeling from western sanctions.
The former trader, who served five years in jail, now runs a dry-cleaning and laundry business.
New York Attorney General reasserted allegations that bank employees misled clients about their exposure to high-speed and potentially predatory market participants.