'Never Mind Your Bonus' is a must-read for all financial markets professionals, a light-hearted look at the industry (which is also inexpensively priced for all cash-strapped bankers - £10 UK, $16.49 USA).
Yugo Ishida, the man who runs Nomura International, is said to have told Reuters at the World Economic Forum at Davos that he doesn't feel that his firm will be making any further jobs cuts in the foreseeable future. The firm has laid-off around 1,100 staff since September.
New York State Attorney General Andrew Cuomo Tuesday issued a subpoena on former Merrill Lynch CEO John Thain, as the official bids to get to the bottom of the firm's so-called 'BonusGate' scandal.
Banco Santander seemed to be between a rock and a hard place, allegedly praising Bernie Madoff's investing prowess just a few weeks before he confessed to that $50bn ponzi scheme (the bank described Bernie's timing as 'impeccable'). It's no surprise, then, that the bank is now offering $1.8bn to private clients to cover their losses and put the matter to bed.
Here's a comment sent in by a Bank of America staffer. For obvious reasons, the individual wishes to remain anonymous:
Shares in Barclays Bank has doubled since Monday, after the firm's top two executives wrote an open letter about the bank's current financial position, which clearly impressed investors.
Bloomberg reports that Morgan Stanley CEO John Mack, ever-the-prankster, handed out 'electronic blood pressure machines with Velcro wristbands' to three of his deputies last September. Mack and his cohorts doubtless needed the machines over the coming weeks, a time when some felt that the firm was close to collapse.
Here's something sent in by one of our readers.
'To my Merrill Lynch colleagues:
Here's something interesting sent in by one of our readers:
Revenge is a dish best served cold.
A former Goldman Sachs trader who pleaded guilty in a criminal case earlier this year to fabricating huge positions to protect his bonus agreed on Friday to pay a $500,000 fine in a related civil matter.
BP has become embroiled in an acrimonious slanging match with one of the US Gulf states most affected by pollution from the Deepwater Horizon blowout in 2010 with the two sides trading blows over the oil company's cleanup record.