BNP Paribas has confirmed that it is acquiring full ownership of New York-based fixed income fund manager Fischer Francis Trees & Watts. The firm has around $38bn under management. Deal terms have not been disclosed.
It's been hot over in Europe during the last few days, and, predicably in London, there have been plenty of moans and groans about the heat on the underground train system. Commuters on the Central Line were said to be sweltering in temperatures of 97.5F Tuesday, and many passengers are saying that trains should have air conditioning, and that London Underground should provide free water on hot days. Some says that we treat animals better.
After all the bad news contained in our lead story, we thought you'd appreciate some light relief. Please use our link below (not the link at the end of the video clip) to e-mail a friend.
Lehman Brothers and Goldman Sachs both posted impressive second-quarter profits this week, but no-one is dancing in the streets.
63-year-old IT programmer Roger Duronio is said to have been angry when his UBS PaineWebber (now UBS Wealth Management USA) bonus for 2001 came in short of his expectations. He is currently in court in New York, accused of installing a 'logic bomb' in the bank's IT system that cost millions of dollars to put right.
63 year-old former UBS IT programmer Roger Duronio is in court in New York facing charges of computer sabotage, mail and securities fraud. He is accused of planting a 'logic bomb' at the bank as he was unhappy with his 2001 bonus. The 'bomb' caused millions in damages and, according to witness testimony, its legacy still haunts the firm to this day.
Silicon.com reports that Michael Johnson, a one-time City IT manager who has been involved in a five-year legal battle to clear his name, has gone bankrupt with debts of $4.8m.
The Wall Street Journal had a great article last week about ICAP boss Michael Spencer. Here are some of the highlights:
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There are now around 850 job sites in the UK (even one specialising in the recruitment of chefs for yachts!), and thousands more around the world. Not all are making money, but many are helping desperate recruiters access decent cvs at minimum cost.