30,000 jobs to go at combined BoA Merrill operations
Bank of America will cut between 30,000 and 35,000 jobs, once its takeover of Merrill Lynch is completed in early…
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Wealth
Divide and Conquer
If choice is the modern mantra, most wealth managers do not seem to be intoning it. If choice is the…
ByChina-Rothschild investment still pending
Bank of China is still awaiting the Chinese government’s approval to buy a 20 percent stake in France’s La Compagnie…
ByCity vacancies up, salaries down
Job vacancies in London’s financial services industry have spiralled since the credit crisis began last August, says a report from…
ByArt is for life
Herewith, some dos and don’ts for buying art for Christmas gifts. If a de Kooning or a Duchamp is out…
ByAfter Guantanamo
These are individuals who were caught on the battlefield in Afghanistan – now where do they go? A federal judge…
ByNew Star eyes potential buyers
New Star Asset Management has confirmed “a number of expressions of interest from third parties” looking to buy the business.…
ByPrivate clients told to top-up or ship out?
Could private banks be creating opportunities for financial planners, by asking clients to either top up portfolios battered in the…
ByTerror on the high seas
The Somali pirates have posed a threat to coastal shipping for years. The capture of the Liberian-registered, Saudi-owned Sirius Star…
ByPope disapproves of tax havens
The Roman Catholic Church has released a policy paper blaming offshore centres for the global financial turmoil. The Roman Catholic…
ByClint against the system
Never has an older dog been less keen to learn new tricks than Clint Eastwood. Never has an older dog…
ByThe Art of Hedge
The evening broke the mould of both what is expected from a Mayfair art exhibition, as well as its guests.…
ByIs it time for the Euro?
The siren voices of the Europhiles call for the abandonment of Sterling and its replacement by the Euro. As Sterling…
ByHong Kong diary
An ex-pat living in Hong Kong told me last night that they knew what Superman must have felt after leaving…
ByCredit Suisse sees SwFr 3bn 3Q loss
For the year to end-November, Credit Suisseannounced a fourth quarter net loss of SwFr 3 billion, following a SwFr 1.3…
ByExclusive: Bank of China Profile
We may have come to terms with China’s new found consumerism, but it still takes a little getting used to…
ByAre the world's banks bust?
If you had put $100,000 into Citigroup on November 17, it was worth only $50,000 a week later. If you…
ByLost in translation
In the scramble to find interpreters, have unsuitable people have gained sensitive positions? A jury at the Old Bailey has…
BySlate: Who’s the world’s worst banker?
In the past couple of years, the entire global lending industry has covered itself in shame. But who is the…
ByGoldman Sachs faces $2bn 4Q loss
Goldman Sachs faces a fourth quarter loss of as much as $2 billion, according to industry insiders cited in the…
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