eFinancialCareers

You don’t need to be Carol Vorderman to deduce that banks won’t be paying particularly great bonuses this year. According to Reuters, they’ll be down 30-40%. The Telegraph forecasts worse pain, with a bonus reduction of 30-50%. It also quotes a seasoned banker, who describes the current situation thus: “I've never seen anything on this scale, for the losses and the sheer scale of the redundancies."

Thomas Montag, the former Goldman banker who joins Merrill today, has nothing to worry about: he’s being paid $40m for five months’ work. (Wall Street Journal)

75,000 financial services jobs to go across Europe – mainly in investment banks. (City of London)

More job cuts coming before the end of the year. (Financial News)

HSBC profits down 28% amidst worst conditions for ‘several decades’. (Citywire)

The hidden parallels between the credit crunch and the Wizard of Oz. (naked capitalism)

Union Bank of India opening investment banking operations in 10 countries by 2011. (Financial Times)

Analysts working 60-plus hours a week were resigning and "experiencing health issues:" ..."We are burning them out." (Wall Street Journal)

Jimmy Cayne’s near-death experience hushed up during Bear crisis. (Clusterstock)

Acid-tongued analyst terrorises Wall St from back of beyond. (DealBook)

Cheeky girl small cap equity traders are harbingers of doom. Sunday Times

20% of Northern Rock customers face negative equity. (Telegraph)

Credit crunch parents default on school fees. (Sunday Times)

Cheating business school students. (Sunday Times)

Commodity bubble is bursting: biggest monthly price drop since 1980. (Independent)