One of the themes to emerge from the recent reporting season among the investment banks was how insignificant the fees they generated through advisory services had become... more
IT was a somewhat louche lunch that showed signs of deteriorating. In between being mocked for my bonusless life and various other things that are wrong with me, I asked the two City traders this: Do you understand what the guy sitting next to you does all day?
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SOME would have it that the recent rise in the oil price is evidence of optimism - a sign that the global economy is getting stronger and that the prospects of recession turning into depression have dimmed.... more
Banking: Bank of America has made John Thain - who as Merrill Lynch chief engineered the firm's sale - head of investment banking, securities and wealth management at the new company... more
What must it be like being Hank Paulson? One minute you’re the head of Goldman Sachs, surrounded by some of the smartest people on the planet, and the next...you’re trying
to explain the economic crisis to George Bush... more
Banking: Merrill Lynch chief executive John Thain and his head of trading could pocket $47 million (£26.1 million) if they leave the bank, or take lesser roles under Bank of America ownership... more
The collapse of US investment bank lehman Brothers has sparked panic in the markets. But it is a necessary correction after years of reckless excess in the financial world... more
Sir Peter Burt, one of Britain's most respected bankers in the period when he ran Bank of Scotland until it merged with Halifax seven years ago, has come out with an interesting take on moral hazard... more
How can the banks that did avoid the pitfalls reap the benefits of their good judgment if all the others are saved from the consequences of their mistakes?... more
Sound check: German industrial metal band Rammstein literally play with fire in their live performances - and now they are about to unleash their singeing spectacle on London. Watch out for your eyebrows
Morning:
6°c
