City jobs gloom as Merrill cuts costs by GB150mn
Article Abstract:
Financial market turmoil has slashed investment banks' earnings forcing them to make cost cuts. Merrill Lynch is striving to save GB 150mn/year by cutting bonuses, reducing transport and entertaining expenses, and reducing its staff numbers. Daiwa Securities has lost nearly US$ 1bn worldwide and so is making staff redundant to save costs. Barclays Capital, Salomon, ING Barings and Credit Suisse First Boston are also all planning to cut costs.
Comment:
UK: Investment banks are forced to cut cost due to financial market turmoil
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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UK: GB[pound] 1BN LOAN FOR CANARY WHARF
Article Abstract:
UK-based property company Canary Wharf has obtained a GB[pound] 1bn loan to finance new construction projects. The company said the deal was the UK's largest property construction loan facility.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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