TIMES ONLINE: Investment bankers are about to enjoy a record bonus season as confidence surges in the financial markets.
Just 12 months after the global economy was brought close to collapse by reckless lending — forcing banks to turn to taxpayers for help — stock markets in London and New York are enjoying one of the strongest bull runs in decades and investment banks are preparing to announce huge profits.
In Britain, job losses slowed in the three months to August. Unemployment rose by 88,000 to 2.47 million, the lowest rise since July last year, and youth unemployment fell slightly. China reported strong trade figures and oil hit a high for the year.
Goldman Sachs, which employs 5,500 people in London, is expected to report a sharp rise in third-quarter profits today. Analysts estimate that, barring a major setback, the average London worker at Goldman will receive about $748,000 (£467,000) in salary and bonuses — 13 per cent higher than 2007 and more than double the 2008 average. >>> Patrick Hosking and Christine Seib | Thursday, October 15, 2009
THE TELEGRAPH: Goldman Sachs on track to pay out record $22bn as profits jump to $3.19bn: Goldman Sachs is under fresh fire after revealing its compensation pot is on track hit a record $22bn (£13.5bn) this year after the bank set aside more for pay and bonuses in nine months than in the whole of last year. >>> James Quinn, US Business Editor | Thursday, October 15, 2009
TIMES ONLINE: Goldman Sachs reignites pay row with 46% rise >>> Christine Seib in New York | Thursday, October 15, 2009
