Photo: The U.S. Army via Flickr
Barclays Capital is beginning to cut some 400 back-office employees today, a source confirms with DealBook. The “routine” lay-offs are in BarCap’s operations and IT support staff.UBS‘ UK unit was sued for copying articles by an energy news publisher, and reprinting them word-for-word in the investment research it sent to clients. Energy Intelligence Group says Jon Rigby cut and pasted from their publication at least 10 times between 2006 and 2007 and passed it off as his own in UBS’ own energy rag, Daily Oil News.
Compare Emma Lasry’s (hedge-fund mogul Marc Lasry’s daughter) music video, “Closet Bitch,” to this one by Miles Fisher, the son of the president of the Federal Reserve Bank of Dallas. It’s obvious which one is better.
Someone broke into the Goldman gym recently. The trespassers “attempted to blend in, while scanning the joint for unrepentant derivatives traders pumping themselves up with kettlebells to sell short some small European country.” Read the full story >>>
AIG has agreed to sell an 80 per cent stake in its consumer finance unit, American General Finance, for an undisclosed fee, to the Fortress hedge fund. AIG will keep the remaining 20 per cent share.
Bentley has finally rolled out its new flagship, $285,000 Mulsanne. Each car takes 9 weeks to custom build, and apart from the hand-assembled V-8 engine, buyers can choose from 114 colours, 21 carpets, 9 wood veneers and 24 interior leather hides.
A six-bedroom penthouse in London’s luxury One Hyde Park complex, sold for £140 million ($220 million) making it the most expensive residential property in the world, in terms of current listings and sales. The new owners have acces to the all-night room service, spas, squash courts and a private wine-tasting facility at the neighbouring Mandarin Oriental hotel. Oh, and security guards who are formerly of the SAS.
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