Despite the current round of job cuts, there is a little optimism creeping into the market. All of a sudden, 2005 might not look too bad.
And just to prove that it's not all bad for staff at CSFB, firm boss Brady Dougan is quoted in The Wall Street Journal, saying that he is working on a new incentive scheme for management which will give them a greater stake in the business. He also acknowledged that there is 'no doubt that we will have to pay competitvely this year' to encourage employees to remain 'part of a winning team'.
After our dismal effort at predicting what would happen in the market in 2004 (see below), CityNews thought it would be a good idea to ask our readers for their predictions for next year.
It's a conspiracy! That's what US prosecutors are saying caused the demise of Enron. A group of professional people who clubbed together to milk the company dry and then stood back and watch it fall.
Dick Grasso, the former chairman of The New York Stock Exchange, will go to trial in New York. Grasso is being sued by New York state Attorney General Eliot Spitzer, who is attempting to reclaim at least $100m from Grasso's almost $200m final compensation package.
According to the Evening Standard, former CSFB compliance officer Asif Butt has admitted that he did pass on confidential information to others during his tenure at the firm, but told Southwark Crown Court that he believes what he did was not illegal as it did not breach the Criminal Justice Act.
His wife and immediate heirs are the richest family in the United States.
Now most of us know that staff at Goldman are probably going to be happy with their bonuses this year. But what about the rest ? In the next couple of weeks, bankers at places like Goldman, Morgan Stanley, Lehman and Bear Stearns will find out what their 2004 bonuses are likely to look like. Institutional Investor is quoting Deutsche analyst Richard Strauss, who looks like he might have some insight into the matter.
Although up to 300 jobs will go at CSFB as the firm makes good on its restructurings promises, out of a global workforce of some 19,000, the total number of staff facing the axe is relatively modest.
It is tempting to lump the news that DrKW is to axe 270 staff in with the all other job loss woes at CSFB, Commerzbank and Deutsche Bank. But to do so would be wrong.
Liverpool currently have a nine point lead over Manchester City, as they look to win their first ever Premier League title.
Raheem Sterling has brought his scrap with Liverpool's Joe Gomez to the England setup.
Chelsea are currently eight points behind Liverpool as things stand in the Premier League table.
Tottenham Hotspur summer signing is currently away with England's under-21 side on international duty.
Arsenal are once again being linked with Manchester City's Mikel Arteta.
Chelsea have been heavily linked with Borussia Dortmund winger Jadon Sancho, who Frank Lampard is reportedly a fan of.
Daniel Ayala could reportedly leave Boro for Championship rivals Leeds United as Marcelo Bielsa hopes to bring a new defender to Elland Road.
Tottenham Hotspur midfielder Tanguy Ndombele could well represent France over the international break.
Ibrox side Glasgow Rangers could reportedly sign a player who's already a hate figure among Celtic fans.
Like Kenneh, the recent Everton acquisition started out in Leeds United's youth ranks.