Citigroup will reduced workforce by 17,000 to 24,000 employees, and it will take writedown of up to $24 billion, CNBC says.

Goldman Sachs is tipped to take over Northern Rock loans, writes the Irish independent and features comments from Ian Robinson, head of credit strategy.

On the contrary, Kaletsky draws the attention in the ‘lose-lose’ situation that Britain and the whole of Europe (except Germany!) have got themselves into… A rather radical point of view.

The new US inflation data released on Friday have triggered a fresh sell-off in the London stock market, sending stocks lower from Wall Street to Europe and Asia.

A mutual fund is simply a financial intermediary that pools money together from hundreds and thousands of investors for the purpose of investing in securities such as stocks, bonds, and other securities with it.

It was an American gentleman named Charles K. McNeil that first came up with the concept of Spread Betting in the late 1930’s. This form of betting has gradually phased into the UK in the 1980’s.

Reuters reported that the global credit crisis will chop 16% of this year’s bonus payouts in the City of London. However, it seems like the credit crunch has just started sinking its teeth into the markets.