The Financial Times reported Friday that The Royal Bank of Scotland consortium (RBS, Fortis and Santander) is feeling miffed that they are not playing on a level field as they battle for control of Dutch bank ABN AMRO.
The Wall Street Journal reports that former Bank of America securities man Paul Risoli pleased guilty to criminal charges late last week, after admitting his involvement in an alleged insider-trading scam.
Reuters reports that industry experts expect disaster could loom large when hedge funds start releasing data on their July performance. The news agency quotes Jack Yang, a partner in $40bn hedge fund Highland Capital, who has said that 'the numbers are going to be all over the place'.
The Times reports that ABN AMRO board members will receive decent pay rises in the event that Barclays ends up the winner in the fight to take over the Dutch bank.
Fortune magazine has come up with a list of the best-paid CEOs and Chairmen of European companies in 2006. The figures include salary, bonus and stock options. Here's the Top 20:
Sad to report the death last weekend of 6-year-old Zachary Cohn, the son of SAC Capital Advisors President Brian, who lost his life in a freak accident.
Reuters reports that Timothy O'Connell, one of a number of bankers acquitted in the now-famous 'Squawk Box' case, has been banged up anyway. O'Connell, 42, has been sentenced to one year and a day in prison for witness tampering and making false statements.
Bloomberg reports that Bank of America and French bank BNP Paribas (BNP) are being sued by Biola, a Christian university in California, which claims that the banks 'conspired to reap 'excessive profits' by selling it $84.2m of interest-rate derivatives at inflated prices'.
Here's the 'game up' letter to investors sent by failed hedge fund Sowood Capital Management
MarketWatch reports that Boston-based Sowood Capital Management LP is the latest hedge fund to come out and confirm that it has suffered from the recent difficulties in the credit markets. The once $3bn hedgie has sent a letter to investors confirming that its net asset value had fallen to around $1.5bn, suggesting that up to $1bn was lost in the month of July alone.
Facebook unveiled a new social search feature Tuesday that will allow users to search their friends content on the Facebook platform.
Fitch, the credit ratings agency, has warned the chancellor that Britain could be stripped of its prized AAA status if he fails to boost the country's economic situation in the spring budget
Keep your head down - and your fingers crossed.