Macquarie warns of slump in profits
Macquarie, the one-time bidder for the London Stock Exchange and Australia's largest investment bank, yesterday warned that first-half profits could slump by a quarter as a result of "weakening market conditions".
It comes against a backdrop of bad results from investment banks across the world, which have suffered as deal volumes have dried up and trading activity in world markets has been torpid.
Analysts have seen a deterioration in trading in recent weeks at Macquarie, which sparked fears that the company would fail to meet their forecasts. At the bank's July annual meeting, Macquarie warned of an uncertain outlook citing factors such as the European sovereign debt crisis and concerns over the economy.
Notes from a small island: Is Sealand an independent 'micronation' or an illegal fortress?
World news in pictures
You thought Ryanair's attendants had it bad? Wait 'til you hear about their pilots
Join Ryanair! See the world! But we'll only pay you for nine months a year
Revealed: Eerie new images show forgotten French apartment that was abandoned at the outbreak of World War II and left untouched for 70 years
- 1 Stoke City investigate 'religious abuse' after 'pig's head is found in Kenwyne Jones' locker'
- 2 Heading for America? Prepare for the longest US immigration queues ever
- 3 Amir Khan interview: 'One second could end my boxing career'
- 4 Groundhog day looms for Arsène Wenger as Arsenal battle for a place in the Champions League on final day
- 5 Join Ryanair! See the world! But we'll only pay you for nine months a year
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Win anything from gadgets to five-star holidays on our competitions and offers page.
iJobs Money & Business
£550 - £600 per day: Orgtel: Fidessa Analyst / PM - Banking - London - Up to £...
£450 - £500 per day: Orgtel: Sourcing Manager - Banking - London - Up to £500p...
To be discussed at interview.: Queen Elizabeth's School: An experienced and ef...
£294.05 - £330.92 per day + 150 per day travel and accommodation: Orgtel: A le...