Former Enron boss Ken Lay died of natural causes from heart disease. That's the official verdict. An autopsy has revealed that Lay, 64, had had at least two hearts attacks prior to the one that killed him in Aspen a couple of weeks back.
The jury in the UBS 'logic bomb' trial came in with its verdict Wednesday, after around 20 hours of deliberations.
Despite pulling in second quarter profits of $5.27bn (a rise of 3.8%), Citigroup missed some analyst estimates, and firm boss Chuck Prince has admitted that some revenue streams are 'under pressure' because of the current uncertain global environment.
Well, they are dancing in the streets over at JP Morgan Chase. Better than expected second quarter profits saw the bank's shares post their biggest single-day gain for more than 3 years Wednesday. And the investment bank, which CEO Jamie Dimon seems to take down a peg or two whenever he has the chance, came up with the goods too.
The pressure was on after Lehman posted those glorious earnings figures Tuesday. Goldman and Morgan Stanley stepped up to the plate Thursday and neither firm was found wanting.
Best to avoid the rush hour over at Citigroup Centre in London's Canary Wharf area if you can. 9am Tuesday saw around 25 impatient visitors waiting in the queue to get a pass and enter the Citigroup building, while two receptionists tried in vain to get the long line moving. Those in the line constantly looked at their watches, knowing that they were certain to be late for their meetings.
Here's the first Best Loved Hotels-sponspored CityNews Quiz of this year. On offer to the winner is a two night stay at London's Langham Hotel for two. The prize includes breakfast, and dinner on one night. The winner must take up his or her prize during February, 2006.
It was in 2003 when Herman Bluestein, a former (disenchanted) Goldman client closed down his website, goldmansuchs.com, after waging a two-year campaign against the firm. Now, Goldman is upset because of another website, which it feels is bringing its name into disrepute.
23 year-old former Merrill Lynch analyst Stanislav Shpigelman faces up to four years in jail after pleading guilty to insider trading in New York last Friday.
Here Is The City has thus-far avoided the 'cause celebre' that has become the 'NatWest Three' case. It's a complicated affair, and the full details will only come out when defendants David Bermingham, Giles Darby, and Gary Mulgrew have their day(s) in court over in Houston, Texas.