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The Daily Telegraph reports that the spike in copper prices in recent weeks has resulted in a number of investment banks 'nursing vast losses', caused by a 'widening in the gap between the price of three month futures and that of long-term futures'.
Morgan Stanley is back in the news for all the wrong reasons once again. Aside from that $15m e-mail settlement announced last week, a couple of former staff filed suit against the firm in the US.
Bloomberg reports that several law firms with London offices are raising salaries and paying larger bonuses in order to retain talented lawyers, and keep them from quitting for lucrative jobs at investment banks or clients.
Thirty-two teams from across the globe make up the field for the 2006 FIFA World Cup. Six continents are represented and six past winners will take part, including hosts Germany, who head the 14-strong European contingent, and holders Brazil, who lead the South American challenge.
You may be surprised to find out who it is...........
Morgan Stanley is to fire 500 trainees in its broker-training program, after deciding that the program was not bringing through the required talent.
They say that investment banking is a dog-eat-dog world, and most bankers eat what they kill. Well, those bankers at DrKW have joined the 'smartly-dressed' club. The firm's leaders have decided that, in the brave new world (DrKW has just moved into flashy premises in Gresham Street), employees will think smart, act smart and look smart too! With immediate effect, smart casual dress will only be allowed on Fridays. Suits and ties are back in vogue the rest of the week.
A US postal worker was arrested Thursday in the latest twist in a $6.7m insider trading scam that has all the markings of a Hollywood movie.
HBOS is not the kind of organisation one would normally associate with an employment tribunal claim, but the firm is being sued for £11m by Claire Bright, its former head of asset and liability management, as, she claim, she was disriminated against and was subjected to victimization at work.