Someone told Dealbreaker that Barclays is going to have massive job cuts this week, which will allegedly impact 7% of the firms global headcount. The tipster said: “Indications are now that the redundancies will be implemented en masse” this Wednesday.
Carl Icahn‘s hedge fund is betting big on energy. Icahn & Co drove $929 million into energy stocks during the second quarter, betting on a rebound after crude prices nosedived and the BP oil spill escalated. The wager saw Icahn’s fund gain 8 per cent in July. Energy stocks now account for 18 per cent of the funds stock investments.
Lloyd Blankfein is usually on the judging panel for the FT and Goldman’s annual award for the best business book, but this year, Blankfein has excused himself from judging. Why? Because too many of the books are about him.
A Morgan Stanley board member, Roy Bostock, isn’t allowed to take part in the FrontPoint spin off negotiations, nor will he, if it comes down to it, be allowed to vote on the terms of the divestment, because he is the father in law of one of FrontPoint‘s CEOs, Dan Waters.
Skype has filed to sell $100 million worth of shares in an upcoming IPO. Even though Skype’s user growth has been “explosive”, profits have not. Underwriters for the offering are being headed up by Goldman Sachs, JPMorgan and Morgan Stanley.
Everyone except the Spanish wants to live away from where they work. Six in 10 Britons want to retire outside of the UK, according to a report in the Telegraph. And when their careers are over, the British want to go to Spain. See the top 10 retirement destinations for Europeans >>>
Hedge fund tycoon Bill Ackman bought $300 million worth of debt in New York’s Stuy Town complex in a bid to out the current owner. With Winthrop Realty Trust, Ackman’s Pershing Capital Management is hoping to foreclose on Tishman Speyer.
Summer beach read: There’s a new book out called The Recessionistas by Alexandra Lebenthal, president and CEO of Lebenthal & Co, and its wealth management unit, Alexandra & James Inc. The book is about a posse of Wall Streeters and their wives who fall to pieces as Lehman Brothers collapses and they lose everything in the aftermath.
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