A former futures trader was yesterday sentenced to four years jail after being found guilty of insider dealing.

The Analyst

The former Bank of America Merrill Lynch corporate broker at the centre of a Financial Services Authority (FSA) "market abuse" crackdown has been offered a return to the City by Russia's Renaissance Capital.

Investors in BT have been licking their lips recently at the prospect of a dividend hike. Ever since the telecoms giant announced new plans last month to tackle its massive pension deficit, hopes have been rising that a large increase to shareholder payouts would be the next step for the company.

Barry Weir, one of JPMorgan Cazenove's top deal makers, is set to replace Ian Hannam, the banker known as the "king of mining", as chairman of equity capital markets at the investment bank.

The Bank of England is to spread its empire from Threadneadle Street to Moorgate as it decides on a home for the new City regulator.

"Man down!" was the cry from the Square Mile last night.

The Analyst

British banking marked the end of an era yesterday as JP Morgan Cazenove announced that David Mayhew, its chairman, was stepping down after more than four decades at the City's most illustrious broker.

The City grandee David Mayhew is expected to announce he is stepping back from day-to-day management of JPMorgan Cazenove today, relinquishing his role as chairman at the blue-blooded City broker.

As global markets suffered yet another dramatic sell-off, there was a glimmer of hope that the doom and gloom could end up helping some of the UK-focused retailers with Marks & Spencer finishing as one of the session's few risers.

The face looks like a familiar one on the non-executive circuit.