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DealBook: Leucadia to Buy Jefferies in $3.6 Billion Deal

Jefferies will continue to operate as a full-service global investment banking firm in its current form, the companies said.

 

Citigroup's Pandit receives $15m

Former chief executive of Citigroup Vikram Pandit receives $15m after resigning from the banking giant last month.

 

Insight: Banks struggle to adapt or survive in commodities

...The boom in resource markets that started 10 years ago attracted many big banks to trade oil, metals and agriculture, but the 2008 financial crisis forced a painful retreat and tighter regulation now means some banks may throw in the towel.

 

UBS to slash 10,000 jobs in fixed income retreat

UBS unveiled plans on Tuesday to wind down its fixed income business and fire 10,000 bankers, as it adapts to tougher capital rules that make it more difficult for investment banks to turn a profit since the financial crisis.

 

Vikram Pandit steps down as Citigroup CEO

Vikram Pandit abruptly stepped down as CEO of Citigroup on Tuesday, shocking Wall Street, after steering the bank through the 2008 financial crisis and the choppy years that followed.

 

Britain pushes to temper ECB power in banking union

Britain is pushing for changes to a proposed euro zone banking union to dilute the power of the European Central Bank, EU officials said, potentially hampering efforts to build the infrastructure urgently needed to underpin the euro.

 

Citigroup profit drops after it writes down brokerage unit

Citigroup Inc said quarterly profit plunged on a $4.7 billion write-down of its stake in a brokerage operated by Morgan Stanley, but mortgage lending increased and capital markets results rebounded.

 

DealBook: JPMorgan Quarterly Profit Rises 34%

Finally moving beyond a trading debacle that has stained his once-stellar reputation, Jamie Dimon, JPMorgan Chase’s chief executive, on Friday trumpeted a strong quarter of earnings stemming from a surge in mortgage lending.

Senh: Further proof that the housing market is starting to rebound.

 

U.S. bank regulators to vote on final stress test rule

U.S. bank regulators are set to vote on a plan requiring banks with more than $10 billion in assets to conduct annual stress tests to determine if they can withstand a financial shock.

 

Julius Baer eyes 1,000 job cuts after Merrill deal

Swiss private bank Julius Baer says it plans to cut about 1,000 jobs from Merrill Lynch's wealth management operations outside the United States following a deal to buy the unit from Bank Of America.

 

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