News

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?

Career Services

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The difference between America and Israel? There isn’t one

The difference between America and Israel? There isn’t one

Netanyahu knows he can get away with anything in America, says Robert Fisk
Families clubbing together to build their own affordable accommodation

Do It Yourself approach to securing a new house

Community land trusts marking a new trend for taking the initiative away from developers
Head of WWF UK: We didn’t send Cameron to the Arctic to see green ideas freeze

David Nussbaum: We didn’t send Cameron to the Arctic to see green ideas freeze

The head of WWF UK remains sanguine despite the Government’s failure to live up to its pledges on the environment
Author Kazuo Ishiguro on being inspired by shoot-outs and samurai

Author Kazuo Ishiguro on being inspired by shoot-outs and samurai

Set in a mythologised 5th-century Britain, ‘The Buried Giant’ is a strange beast
With money, corruption and drugs, this monk fears Buddhism in Thailand is a ‘poisoned fruit’

Money, corruption and drugs

The monk who fears Buddhism in Thailand is a ‘poisoned fruit’
America's first slavery museum established at Django Unchained plantation - 150 years after slavery outlawed

150 years after it was outlawed...

... America's first slavery museum is established in Louisiana
Kelly Clarkson: How I snubbed Simon Cowell and become a Grammy-winning superstar

Kelly Clarkson: How I snubbed Simon Cowell and become a Grammy-winning superstar

The first 'American Idol' winner on how she manages to remain her own woman – Jane Austen fascination and all
Tony Oursler on exploring our uneasy relationship with technology with his new show

You won't believe your eyes

Tony Oursler's new show explores our uneasy relationship with technology. He's one of a growing number of artists with that preoccupation
Ian Herbert: Peter Moores must go. He should never have been brought back to fail again

Moores must go. He should never have been brought back to fail again

The England coach leaves players to find solutions - which makes you wonder where he adds value, says Ian Herbert
War with Isis: Fears that the looming battle for Mosul will unleash 'a million refugees'

The battle for Mosul will unleash 'a million refugees'

Aid agencies prepare for vast exodus following planned Iraqi offensive against the Isis-held city, reports Patrick Cockburn
Yvette Cooper: We can't lose the election. There's too much on the line

Yvette Cooper: We can't lose the election. There's too much on the line

The shadow Home Secretary on fighting radical Islam, protecting children, and why anyone in Labour who's thinking beyond May must 'sort themselves out'
A bad week for the Greens: Leader Natalie Bennett's 'car crash' radio interview is followed by Brighton council's failure to set a budget due to infighting

It's not easy being Green

After a bad week in which its leader had a public meltdown and its only city council couldn't agree on a budget vote, what next for the alternative party? It's over to Caroline Lucas to find out
Gorillas nearly missed: BBC producers didn't want to broadcast Sir David Attenborough's famed Rwandan encounter

Gorillas nearly missed

BBC producers didn't want to broadcast Sir David Attenborough's famed Rwandan encounter
Downton Abbey effect sees impoverished Italian nobles inspired to open their doors to paying guests for up to €650 a night

The Downton Abbey effect

Impoverished Italian nobles are opening their doors to paying guests, inspired by the TV drama
China's wild panda numbers have increased by 17% since 2003, new census reveals

China's wild panda numbers on the up

New census reveals 17% since 2003