GOSSIP: Today's Wall Street Buzz in 60 Seconds


Merrill Lynch‘s most senior UK investment banker has been poached by BarCap. Though neither bank will comment, sources close to the situation say Richard Taylor has given BAC his notice and will depart for BarCap.

Layoffs continue at UK bank Lloyds, which cut 4,500 jobs in IT and operations in Britain and India. Unions are furious.

Reports that Citi is recruiting “a Chinese army” – thousands of new staff in China with more additions to come in North America – is being met with a cynical response by analysts who think Vikram Pandit is “chasing dreams.”

UBS was considering, but won’t sue previous management for their poor planning that led to massive losses for the bank, and failed to prevent tax evasion by a number of super rich American clients.

JP Morgan reduced third-quarter bonuses for its invesment banking team by 31 per cent as the bank’s revenue slides.

Apparently hedge fund manager and former Goldman managing director, Cliff Asness, is an inconsiderate driver. The guy he cut off tipped Dealbreaker >

Warren Buffett on his son Howard: Howie would rather spend an evening on a tractor in the field than a date with Angelina Jolie, which is not true of all members of the family, but that’s true of Howie.”

A Floridian man made a gigantic SOS sign addressed to JP Morgan on his front lawn. He’s desperate to renegotiate a mortgage on his foreclosed home.


India’s richest man has built the world’s first billion dollar home.

New Yorkers are talking about the weird lit-up object hovering over Chelsea last night… The UFO was described as looking like a “jellyfish made of lights” by one observer.

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