Shares in Citi fell to 97 cents intra-day Thursday (before closing at $1.02). The stock has now fallen some 85% this year, and is currently trading at its lowest levels since Citicorp and Travelers came together to form Citigroup in 1997.
The Financial Times reports that Lehman's US liquidators have sent a letter to Barclays asking what happened to an estimated $3.3bn that was transferred to the UK bank when it acquired Lehman's North American operations in September last year.
The Wall Street Journal has identified some of the bankers who bagged the most in compensation over at Merrill Lynch last year. The figures are said to have been compiled from documents and interviews with unnamed 'people familiar with the situation'.
Reuters reports that UBS has again refused to provide most of the names of US clients sought by the US government in connection with a tax evasion probe.
'Here Is The City' expressed some scepticism about the legal claims currently under consideration by some bankers over at Dresdner Kleinwort in respect of the 'variable' element of their compensation (ie their bonuses), so you may be interested in the views of one who is involved.
The New York Times reports that UBS is to increase the base salary of senior investment bankers as it strives to retain top talent in the wake of disappointing bonus payouts.
Here's the first excerpt from 'The Kenny Lewis Dairies'. 'Kenny' is the fictional head of Bank of America / Merrill Lynch.
Here's a note of our most popular Life stories in February:
Here's Citi CEO Vikram Pandit's latest missive to staff:
Reuters reports that Bank of America has revealed in its 2008 annual report that it is carrying loans on its balance sheet marked at $44bn above fair market value. The bank says that it is to hold the loans to maturity. BofA stock fell 25% in New York trading Friday.
Police in New York City are investigating an unusual incident that unfolded close to Goldman's HQ building in the early morning hours on Monday.
A devout Sikh is suing his former bank for over £50,000 ($81,165) after colleagues allegedly interfered with his turban and asked him whether it 'flashed red in an emergency'.
Fortune magazine has issued its latest list of the top 40 business stars under 40.