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The Latest On The Market Turmoil

The New York Times recently undertook a 2 hour interview with Citigroup executive Robert Rubin, and asked the obvious question of the former Goldman supremo (and US Treasury Secretary) - 'How come you didn't see the current market difficulties coming, and why didn't you position your company to avoid the worst of the turmoil ?'.

Downturn, What Downturn ?

Last week 200 folks packed into an underground bunker in Hong Kong, used to store explosives during the Second World War, to participate in the City's first wine auction for a decade.

Fortune's Top US Financial Firms By Revenue

Fortune magazine has come out with its latest comprehensive list of America's largest corporations. Here's a note of the biggest financial firms by revenue which will be of interest to our readers (Note - figures as at the last audited account year-end).

Latest Other News In Brief

The Independent reports that Barclays has 'ridiculed' suggestions that it, too, is preparing for a rights issue. In an effort to differentiate itself from rival Royal Bank of Scotland, Barclays chairman Marcus Agius said at the bank's AGM in London this week that 'When things are at their most difficult, the market tends to treat all peole pretty much the same.... Of course, that it rubbish. Some banks have better business portfolios than others and some banks perform better than others'.

Job Losses Hit 47,000 - No Let Up In Bloodletting

I Gave Blood Today

The number of job losses sustained by investment banks and brokers in the last 10 months has now hit 47,000. And the bloodletting is by no means over. Over 100,000 investment banking and broking staff lost their jobs in the last major downturn (2001 - 2003), and this latest banking crisis now looks like topping that figure.



For Hire

Ford Hiring More Than 1,000 on F-Series Demand

Ford, facing greater demand for its F-Series trucks, is adding a third shift and hiring more than a thousand new workers at its final assembly plant in Claycomo, Missouri where the popular F-150 pick-up is built, the auto maker said.