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New Star renegotiates loans and axes jobs as billions wiped off asset values

New Star Asset Management, the group that became famous for making its secretaries millionaires when it listed, has renegotiated the terms of its loans and is preparing to slash £20m of costs, as it blamed the economic crisis for a disappointing quarterly performance.

Deutsche Bank May Cut 900 Jobs, Report Says
Deutsche Bank May Cut 900 Jobs, Report Says
Iceland Gets $2.1 Billion Loan From The IMF
Iceland Gets $2.1 Billion Loan From The IMF
Fed's Lacker: Uncomfortable With Fed Liquidity Moves
Fed's Lacker: Uncomfortable With Fed Liquidity Moves
David Prosser: Deflation is scary. So too is a policymaker in a blind panic

Outlook Here's a thought about the terrifying spectre of deflation now looming large if the much bigger than expected fall in inflation seen last month is a taste of things to come. It may not be so terrifying.

Investment Column: Platinum demand downturn dents Lonmin

Share price:Hold

RBS to axe 3,000 staff

Britain faced more jobs misery today over plans by Royal Bank of Scotland to axe around 3,000 staff.

Credit insurers face huge rise in premiums

Credit insurers face having to pay big increases in reinsurance premiums in the coming months as the effects of the credit crunch worsen.

ClearMark Clicker Training
ClearMark Clicker Training Specializes in Canine and Avian Training/Behavior Solutions. We use the same force free training techniques used in Marine Parks and Zoos. ClearMark is a Karen Pryor Certified Training Partner and is recommended by the John G. Shedd Aquarium in Chicago, IL. - Davisburg, Michigan
Market Report: Downgrades send Icap and Tullett reeling

Icap and Tullett Prebon were pushed on to the back foot yesterday after Morgan Stanley, mindful of tougher trading conditions next year, took a knife to its earnings forecasts for the two inter-dealer brokers.

National Express to axe 300 jobs

The jobs axe cut into the rail industry today when a leading firm told union leaders it was shedding more than 300 jobs.

David Prosser: Careless talk costs lives, or banks at least

Outlook The Financial Services Authority has now set out the results of an investigation into market rumours – those nasty, and often untrue, little bits of gossip that have destabilised our leading banks this year. The watchdog has spent much of the past six months asking a wide range of City companies for their policies on rumour-spreading. But fear not: businesses from stockbrokers to hedge funds say they have strict rules in place on such naughtiness. And while the FSA has uncovered a few instances of gossiping that might have caused difficulties, it stamped on them quickly and has warned the rumour-mongers about being naive.

Man behind the putsch:'I'm the forward guard for a much bigger machine'

Stefan Allesch-Taylor left school at 18 and entered stockbroking. It was Black Monday in 1987 and he admits that for five years he thought he had caused the stock market crash. Now he is advising the would-be managers of HBOS on how they can help the bank survive an even greater crash.

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