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ABN AMRO Said To Have Made Bonus Promise

Bloomberg reports that Dutch bank ABN AMRO has given a bonus promise to certain key staff in its corporate and investment banking unit in order to limit the number of defections during its merger discussions with Barclays Bank, and while there remains uncertainty about the unit's future.

'Wobbly Wednesday' - Job Cuts Announcement Imminent

The Wall Street Journal reports that Citigroup COO Robert Druskin is now expected to unveil the results of his strategic cost-cutting review Wednesday. The review, which is said to have taken in up to 200 areas for possible cuts, is designed to take out as much as $2bn in costs. And the smart money says that up to 15,000 jobs are likely to be shed.

Regulator Has No Problem With Break-Up Of ABN AMRO

The Financial Times reports that Nout Wellink, the president of the Dutch central bank, has clarified an earlier statement he made and indicated that the authorities will have no objection if a rival bidder for ABN AMRO came forward to spoil the proposed Barclays deal - even if that bidder wanted to break up ABN and sell off parts of the group to third parties.

HSBC - Excuses, Excuses, Excuses ?

The Financial Times reports that HSBC's latest annual report now runs to 454 pages (including 133 pages of notes which explains what everything means). It weighs an astounding 1.47kg and, according to the newspaper, it's so heavy that the UK's postal service has had to limit the number of postmen delivering the tomes in order to prevent back injuries.

Nomura International Accused Of Acting Illegally

The International Herald Tribune reports that Nomura International 'is facing accusations from a senior former employee that it levied illegally high fees and violated disclosure requirements in a bond issue' for the Italian regional government of Liguria.