Fans of Man Group have been rather conspicuous by their absence recently. The hedge fund giant has suffered a dramatic fall from grace, with the stock losing a third of its value in a month, meaning its share price is now three-quarters lower than in 2009.

Ian Hannam is by far the Financial Services Authority's biggest scalp in the recent flurry of prosecutions on disclosing inside information.

Morrisons will unveil an expansion of its fledgling convenience stores and online non-food lines on Thursday when it posts a rise in full-year underlying profits.

The broker at the centre of the Greenlight Capital insider trading scandal will not fight his £350,000 fine despite clients and rivals agreeing that he did little wrong.

Ooh, that's a tough job

It sure is. BofA is the definitely the shakiest of the big US banks, having never pulled itself free of the credit crisis. But Mr Moynihan is used to dealing with a few bruises. Earlier in his career he would regularly come to the office all beaten up from a rugby game the night before.

Call us childish, but we couldn't resist the headline above, for Merrill Lynch's Wealth Management division really has called in Police – one Amilcare Police, in fact, who the investment firm has just appointed as head of credit and banking for Europe, the Middle East and Africa. The gentleman in question has an extensive CV full of relevant experience, most recently doing something similar at HSBC, though as far as we know, he's never worked in law enforcement.

Investors were licking their lips at the prospect of bid activity in the oil sector, after Tullow Oil was highlighted as a potential merger and acquisition candidate.

American International Group will hold at least a 30 per cent stake in its Asian life insurance business, AIA Group Ltd, for a year after AIA's listing in Hong Kong next month.

Kelly Martin will step down from his post as chief executive of Elan Corporation in 2012 and leave the Irish drugs manufactuer in 2013, the company said yesterday.

Red faces at Merrill Lynch, which had to call in the authorities after falling for a tall story told by the broker Steven Mandala last year. Mandala managed to convince Merrill that he was a partner in a leading asset management company looking after £300m of clients' money. The reality was that he was a very junior member of staff, but the bank only discovered the truth after hiring him, lending him $780,000, which he spent on a Ferrari and living the high life, and then watching him quit after two months (when he refused to repay the debt). Mandala has pleaded guilty to theft charges and faces a jail sentence. But the gullible bank hardly comes out of the tale smelling of roses.

The City watchdog has banned a former senior trader at Merrill Lynch in London after he inflated the value of his trading book by more than $100m (£66m) to cover up huge losses.