Societe Generale's $7.1bn rogue trader, Jerome Kerviel, came back down to earth with a bump Friday, as a Paris Appeals Court ruled that he should be placed in 'temporary' detention. And 'temporary' could end up being 12 months or more, as it's likely to take at least a year for those intrepid Gaullic investigators to work out exactly what went on, and complete their report. Kerviel's lawyers have indicated, however, that they will appeal the decision.
The New York Times reports that a pornographic film actress pleaded guilty this week to trading on inside information.
The Wall Street Journal reports that Bank of America filed an appeal to the Dutch Supreme Court Tuesday, seeking to remove a lower court's decision to freeze the sale of the ABN AMRO unit LaSalle, which it is contracted to acquire in a deal worth $21bn. The Court is expeceted to rule by early July.
is Chinese (and 3 Chinese firms are now in the Top 5).
Warren Buffett is the 2nd wealthiest man in the world.
Another Enron classic.
Financial News reports that Goldman Sachs kicked off this year's bonus round this week. The firm's 29,905 staff will share a record payout of some $18bn - that's an average of $601,900 per employee.
Here's are some more of your views on bonuses and stress:
As we've asked on many occasions before - 'When have you ever hearrd a recruitment consultant say that they aren't do well ?'. Well, the markets have tanked, firms have started to pull in their horns, and recruiters are getting laid off.
Breaking News: French police are now holding a second trader who is thought to have had links with Jerome Kerviel, the equity derivatives trader at the centre of the SG $7.1bn trading scandal.
Here's how JPMorgan CEO Jamie Dimon might look, but check the links below to see how 9 other top firm CEOs might appear if they were made Pope.
Sound familiar ?
UBS CEO Sergio Ermotti’s 2012 pay of $9.3m was dwarfed by the $26.1m in cash and stock investment bank head Andrea Orcel got on joining the firm.