As firms restructure, review and lay-off, Here Is The City has dusted off this old chesnut.
As the downturn begins to bite, several Wall Street firms are pulling in their horns by taking advantage of a radical new design in office furniture and IT software recently brought to the market by a former investment banker who was laid-off last year (see pictures to the right).
The New York state Comptroller's office is now predicting that as many as 225,000 jobs (many from the securities industry and supporting services) could be lost in the 2-years to October 2009, and that some $6.5bn in securities-industry-related tax revenues will be lost as a result.
It was interesting to read 'I've Had My Best Year, But I Don't Care About A Bonus'. On the face of it, the trader concerned sounds quite a pragmatic, good natured kind of guy. But, look at it more deeply, and you can see all the old greedy, grasping habits still simmering under the surface.
Timothy Franz Geithner, born August 18, 1961, has been nominated by President-elect Barack Obama to succeed Henry Paulson as the next US Secretary of the Treasury.
Roger Jenkins is Chief Executive of Barclays Private Equity, Principal Investments and Structured Capital Markets at Barclays Capital, and executive Chairman of Barclays Investment Banking & Investment Management, Middle East. And some say that this man could be highest-paid investment banker in the world.
The Wall Street Journal reports that Morgan Stanley was on the 'brink of failure' just two days after the fall of Lehman Brothers in September, after false rumors were circulating that Deutsche Bank had pulled a $25bn credit line.
The following is the text of the term sheet detailing the agreement reached on Sunday between the U.S. government and Citigroup Inc.
Citi took out a series of advertisements around the US over the weekend, designed to reassure customers, investors and staff.
President-elect Barack Obama announced Saturday a bold initiative to save or create 2.5 million US jobs in the next two years.