Bloomberg reports that Daniel Gordon, Merrill Lynch's former chief energy trader, has pleaded guilty to money laundering and wire fraud and admitted he embezzled $43m from Merrill in 2000.
Few outside of Italy will have probably heard of Italian food multi-national Parmalat. That's about to change. Almost $5bn appears to have disappeared from the group's coffers and Bank of America has been pulled into the scandal. The affair is already being called 'Europe's Enron' in the press.
Can The Guardian be sending us all up ? Did JP Morgan staff receive a spoof e-mail ? Or worse, could the following actually be true ?
Robin Saunders, WestLB's star principal finance banker, is off. The move will surprise no-one. She will officially leave the bank at the end of the year and is said to be taking a deferred bonus of up to £1m with her when she goes.
Goldman Sachs, Lehman Brothers and Morgan Stanley posted strong quarter four figures last week. The firms' net revenues were up 91%, over 100% and 42% respectively on the same period 12 months ago.
Despite the news last week that Lehman Brothers had pulled back some jobs from India to the US, the firm has confirmed that it is not giving up on India and has plans to transfer more jobs there.
The Wall Street Journal reports that many are beginning to wonder what progress has actually been made integrating Credit Agricole and Credit Lyonnais following their merger earlier this year. The resignation last week of Credit Agricole's deputy chief executive, Dominique Ferrero, the man tasked with spearheading the merger, has made some think that not very much progress has been made.
CBSMarketWatch reports that the final settlement between Alliance Capital and US state and federal regulators may cost the firm as much as $600m. Alliance has been charged with secretly permitting certain clients to execute market-timing trades.
New Star Asset Management has purchased six retail unit trusts from Aberdeen Asset Management for over £90m.
Premier League leaders Liverpool could reportedly raid La Liga giants Valencia for contract rebel winger Ferran Torres but is he Anfield-bound?
Henrikh Mkhitaryan is on loan at AS Roma from Arsenal at the moment.
Tottenham Hotspur striker Harry Kane started his career at Arsenal.
Leeds United boss Marcelo Bielsa is said to be keen on bringing in Daniel Ayala from Middlesbrough.
Raheem Sterling admitted this week that he still loved Liverpool.
Liverpool and Manchester City have been the two dominant teams in English football in recent seasons.
Steven Gerrard’s Glasgow Rangers are 13 points behind Neil Lennon’s Celtic.
Stuart Findlay has established himself as a top defender since being released by Celtic.
Moussa Dembele reflects on Celtic’s 5-0 win against Rangers and Mikael Lustig’s celebration.
Everything you must know about how to use the Houseparty app on laptop and PC.