Tuesday, 9th February 2010

 

16 November 2009 - Press Briefing

Paulson bets $1.4bn on Citigroup recovery

John Paulson purchased 300 million Citigroup shares during the three months ended September, betting $1.45bn (€972m) on the embattled financial institution’s ultimate turnaround, regulatory filings revealed, according to a report in The Daily Telegraph, London.

Simultaneously, he completely offloaded his $328m holding in Goldman Sachs, and also divested a portion of his $2.2bn stake in Bank of America.

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Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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Australian billionaire gambles on China

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