Mizuho Securities Co and Barclays Capital.
Here's the latest investment banking cost-cutting memo over at the House of Dimon, brought to you courtesy of Dealbreaker.
Sanity returned to the markets Tuesday. The Fed cut its benchmark rate, US stocks enjoyed their biggest gains in 5 years and Doug Peta, market strategist at J & W Seligman, said that 'the run on the investment banks would appear to be over. It seems certain we are going to finish the week with the four (main US) investment banks we started with, and we couldn't be sure of that (last) Monday morning'. (Source - Bloomberg)
The revelation of details of the expenses claimed by UK Members of Parliament has brought public fury on the so-called 'servants of the people', who appear to have abused the system in order to feather their own nests - literally.
The New York Post reports that, according to a new book published about the last 72 hours of life over at Bear Stearns ('Street Fighters' by Kate Kelly), repeated attempts by Goldman Sachs to help Bear were rebuffed over fears of an 'ulterior motive'.
All this talk about investment banking salaries going up has got a lot of folks all excited.
Staff at Goldman Sachs can sleep easy - at least for the time being. CEO Lloyd Blankfein told shareholders Friday that the firm had 'no plan on the horizon for downsizing'.
The Financial Times reports that around 50 equity professionals from Dresdner Kleinwort have defected to rivals Evolution and Nomura. Evolution is said to have recruited 46 London-based staff, including the majority of Dresdner's equity sales and trading unit, together with 18 analysts. Commerzbank, which now owns Dresdner, is basically exiting the equities business in London.
Could it be true ? Will Merrill Lynch go solo again ? Well some folks think so.
The official results of the US stress-tests on 19 of the nation's largest financial institutions are in, and the federal government has projected that the banks could sustain losses of up to $599bn in the event that the global economy takes another leg down.
Good news for some.
The governor of the Bank of England has issued a blunt warning to potential home-owners that they must be able to pay their mortgages when interest rates go up and not rely on being bailed out of any future difficulties by rising house prices.
Marks & Spencer staff in Ireland have voted to strike over the firm's plans to close its final-salary retirement scheme.