Investment Banking News

Big City bonuses are back! Less than a year after banks took billions in taxpayer-funded bailouts... By Simon Duke Last updated at 10:33 PM on 10th July 2009 City banks are preparing to lavish record bonuses on staff less than a year after bringing the world economy to the brink of meltdown.

Goldman Sachs Group Inc., long envied by its rivals for its money-making savvy, probably won't be making any friends this year.

Citadel Investment Group LLC, the $12 billion hedge fund firm founded by Ken Griffin , sued three former executives and the firm they started, Teza Technologies LLC, over claims they violated non-competition agreements.

A group of unsecured creditors objected on Friday to a request by bankrupt Lehman Brothers Holdings Inc for more time to draft its reorganization plan, claiming the delay will cut into the $13 billion they say they are owed, according to court documents.

The owner of a website onto which a purportedly stolen Goldman Sachs Group Inc computer code was downloaded has declined to say whether or not other people accessed the code while it was on the site.

Although optimism over the next slate of tech earnings reports mostly has been muted, Goldman Sachs analyst David Bailey says now is the time to shift to the offensive with tech stocks, due in part to a likely upgrade cycle in corporate tech needs next year.

A spokeswoman for Cisco Systems said this afternoon that a stock analyst's report wrongly implied that the company had started a new wave of layoffs.

We were all riveted last fall by the economic meltdown, which pulled down Lehman ) and Merrill ) and forced many of us to consider the previously inconceivable outcome of a total collapse of the capital markets.

Citadel Investment Group, one of the world's most successful hedge fund firms, sued a former top executive in its highly successful quantitative trading unit and two others for setting up their own firm.

An ex-Goldman Sachs adviser in Hong Kong has been barred from the financial services industry for two years after she invested almost $2 million of her client's money on derivatives contracts without approval, regulators said Thursday.

U.S. stocks gained as an analyst upgrade of Goldman Sachs Group Inc. spurred a rally in financial shares and a rebound in natural-gas prices lifted energy producers, tempering a drop in drugmakers.

Dr Rolfe has held various positions of increasing responsibility at Millennium: The Takeda Oncology Company, since 1999.

Home improvement queen Martha Stewart has picked up the reins to her business empire after spending five months in prison over a suspect stock deal.

Members of the Association for Community Organizations for Reform Now protested what it calls unfair loan practices earlier this week.

After roughly 12 months of negative estimate revisions, analysts are starting to see a brighter future and positive earnings per share revisions are beginning to outweigh negative adjustments.

The Securities and Futures Commission did not need to conclude all the investigations into the 20,000 complaints by those who invested in Lehman Brothers minibonds to reach a deal with affected banks, its chief executive, Martin Wheatley, told lawmakers yesterday.

MAYBANK today said it never sold any of Lehman Brothers structured products in Malaysia.

Is Goldman Sachs really a "vampire squid wrapped around the face of humanity"? That's the view of journalist Matt Taibbi in a long article in Rolling Stone magazine.

The "massive" rally in junk bonds sold by the most debt-laden companies makes the market "incredibly dangerous," said Greg Peters, head of credit strategy at Morgan Stanley.

Indonesians began voting in the second direct election since the country ended 32 years of authoritarian rule, with polls indicating that President Susilo Bambang Yudhoyono will triumph with an enhanced majority.