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It was once only a brave investor who’d bet against fashion favourite Asos, but yesterday two City experts called time on the stock.

Morgan Stanley powers past Goldman Sachs

Going by this last quarter's results, Wall Street could have a new top dog. Morgan Stanley trounced not just market expectations for its latest three-month revenues, but its arch-rival Goldman Sachs as well. "Morgan Stanley is the new Goldman Sachs," the Rochdale Securities' analyst Dick Bove declared after seeing the results yesterday. Morgan Stanley's bonds, commodities and currency trading operations brought in revenues of $1.9bn (£1.67bn), up from $1.7bn, despite the new regulations and caution on the part of clients that have been affecting all Wall Street firms since the financial crisis.

Goldman to cut 1,000 jobs as trading plunges

Goldman Sachs will lay off 1,000 staff before the end of the year, amid sharp falls in trading activity.

$3.9bn bonus pot at Goldman Sachs

Goldman Sachs, the investment banking giant, is expected to say this week it has allocated a bonus pot worth $3.9bn (£2.4bn) in its second quarter.

Goldman Sachs faces new credit crisis inquiry

Goldman Sachs has received a subpoena from the Manhattan District Attorney's office, adding further legal pressure on the investment bank over its actions in the lead-up to the financial crisis.

Take Me Home Tonight (15)

Starring: Topher Grace, Anna Faris, Teresa Palmer

Wall Street kingpin found guilty of insider trading faces 20 years in jail

Rajaratnam appeared the model of success, but his hunger for gaining an 'edge' over his rivals took him beyond the bounds of the law time and time again

Hamish McRae: The decision to hold back on increasing interest rates may turn out to be wrong

Economic Life: The danger would be that the rise in short-term rates next year would have to be even greater than it otherwise would

Adrian Hamilton: Japan may be showing the way to the world

International Studies

Goldman Sachs cannot see the future

I would argue that Goldman’s forecasting record in recent years has not been particularly impressive.

Money and Power: How Goldman Sachs Came to Rule the World, By William D Cohan

The bank that likes to say 'Yes' – to both sides

David Prosser: Glencore's IPO may not be a moment too soon

Outlook Roll up, roll up, for the Glencore flotation, likely to be announced as early as today. The commodities trader is certainly leaving it to the last minute to get its IPO away – a string of companies have dropped plans for listings over the past couple of weeks, so fragile is confidence in the new-issues market. There is also a growing clamour from commodities bears – witness the warning from Goldman Sachs earlier this week – that we may have reached the top of the boom.

Shareholding nuns put Goldmans on the run over bonus culture

Four orders of nuns are demanding that Goldman Sachs overhauls its pay for top executives, in the teeth of public fury over excessive bonuses and after it was revealed that Lloyd Blankfein, the investment bank's chief executive, took home $19m (£11.7m) last year.

Goldman Sachs boss nets $14.1m package

Goldman Sachs has signalled an end to a short-lived era of "restraint" in salaries and bonuses by awarding its chief executive $14.1m (£8.7m) in cash, stock awards and perks for the last year. The payout is a huge increase from 2009, when Lloyd Blankfein was awarded just over $1m for his efforts, according to the Associated Press.

The Business On... Michael Sherwood, Vice chairman, Goldman Sachs

Another one of "God's bankers"?

The Business on: Tim Steiner, Chief executive, Ocado

That nice chap who delivers my shopping?

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