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Top Firm To Hire 1,500 In 2008

Looks like we've finally found some good news. City recruiters are likely to be camping outside BarCap's Canary Wharf office with handfuls of cvs soon, as Financial News reports that the firm is to hire 1,500 additional staff in 2008.

Firm Fined As Trader Hide $8.8m Losses For Two Years

UK securities regulator The Financial Services Authority (FSA) has fined Toronto Dominion Bank's London operation $1m over the activities of a fixed income trader who managed to hide his trading losses (which finally hit $8m) for a two year period.

City Recruiters Begin To Feel The Pinch

You'll rarely hear a City recruiter admit that life is anything but grand, of course, but some are suggesting that the subprime blues is beginning to impct their businesses and that it has started to get a bit quiet on the recruitment front.

Top Firm Denies Rumours Of $20.9bn Write-Down

Shares in Barclays Bank were all over the place Friday, after rumours persisted that the firm was to write-down almost $21bn in US subprime lending-related assets. Speculation was rife that the bank needed to raise funds via an emergency rights issue and that CEO John Varley and / or Barclays President Bob Diamond were on the verge of resignation.

Our New News Site

Well, we're now onto the next generation of Here Is The City News. The look and feel of the website is broadly the same, but it comes with one or two additional features and the navigation has changed slightly.

Line Managers Stressed On Bonuses, More Jobs Axed


Bloomberg reports that, according to search firm Armstrong International, senior line managers and executives at Bear Stearns, Goldman Sachs, Lehman Brothers and Morgan Stanley, all of which give employees their bonus numbers in 3 or 4 weeks, still don't know whether they are on their arse or their elbow on the bonus payout front - and that's because bonus pot totals are changing rapidly in the light of recent additional subprime-related write-downs.