Goldman Sachs Threatens Spanish Move (Independent)
Goldman Sachs has threatened the UK Treasury with plans to move up to 20 per cent of its London-based staff to Spain in a standoff over tax and bonuses…A City source said: “Goldman could move a relatively large number of people if it wants to. Given how much Goldman and its staff contribute to the tax take, the firm has plenty of leverage. This is a bargaining position more than anything.
Full Repayment Of Dubai Debt Still Option (Reuters)
The National daily said two top Dubai officials, on a confidence-building mission to Britain and the United States in recent days, told financial leaders in London that repaying all bank loans in full “was discussed as a medium-term possibility.”
Show Us The Email (NYT)
Eliot Spitzer: “We know where the answers are. They are in the trove of e-mail messages still backed up on A.I.G. servers, as well as in the key internal accounting documents and financial models generated by A.I.G. during the past decade. Before releasing its regulatory clutches, the government should insist that the company immediately make these materials public. By putting the evidence online, the government could establish a new form of “open source” investigation.”
UBS, Credit Suisse Said to Face Tougher Rules on Liquid Assets (Bloomberg)
The two largest Swiss banks may have to almost triple the amount of cash they hold in relation to customer deposits under new proposals from Swiss regulators, two people familiar with the matter said.
AIG tough guy’s head-on riposte (FT)
Also, he needs more Me Time: “I need to find the time to go beyond learning wine-making and jogging.”
London Exodus to Geneva Runs Into Housing, School Shortages (Bloomberg)
“It’s a joke, it’s lobbying,” said Tim Dawson, an analyst at Geneva-based brokerage Helvea AG. “People are dreaming if they think the London investment banking world is going to move. There is more office space in Canary Wharf than in the whole of Switzerland,” he said
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
"The husky, bespectacled trader laughs easily, but employees say he can quickly turn on them when he's angry. Mr. Tepper keeps a brass replica of a pair of testicles in a prominent spot on his desk, a present from former employees. He rubs the gift for luck during the trading day to get a laugh out of colleagues"
http://online.wsj.com/article/SB12613580532829953...
How's his average cost on Citi 79c?
Barca, geneve >londres, hands down.
lloyd doesn't bluff.
Luv this!
Goldman and all the other banks should just grin and bear it for a year. I'm sure the 50% bonus tax will be rescind when Gordon Brown is ousted at the next UK elections.
But if Goldman does move it's UK op's to Spain, then at least its female staff will have the convenience of not having to shave their arm-pits everyday.
4 are you really comparing spanish chicks to UK chicks? seriously?
Moving to Spain would be a positive for banking culture.
Ciestas seem to work for Einhorn.
6- is that anything like a siesta?
UBS sucks.
8- will Union Bank of Spain or Credit Spain suck less?
Goldman HQ, Barcelona:
http://www.metacafe.com/watch/yt-s6EaoPMANQM/i_kn...
Mm barca has a 70% income tax on new immigrants for first 3yrs…dunno how that applies to bonuses tho
Anal_yst, any good thoughts over the weekend?
@9 good point. -8