Deutsche Bank has now closed its iron ore swaps business as part of an overall strategy to get out of physical commodities and maintain only a limited presence in commodity derivatives.
ABN Amro plans to add commodity staff next year in Asia where its trade-finance business is growing as China increases consumption of energy and metals.
Jobs will go.
November brought more bad news for believers in the eternal power of gold: the commodity saw its sharpest monthly price fall since June.
Jefferies Bache is to quit its presence on the London Metal Exchange's open outcry floor as it shifts its membership to category two or broker clearing member of the exchange, the LME said on Monday.
Goldman Sachs put its uranium trading unit up for sale as prices for the radioactive metal fall and regulatory scrutiny of banks’ commodity activities increases, a person briefed on the matter said.
Morgan Stanley’s talks to unload its commodities business are heating up against after months of fruitless negotiations with potential buyers.
Where was it ?
In 1979, Nelson Bunker Hunt and William Hunt famously bought up as much silver as they could in the commodities market.
Facing lingering questions about the oversight and profitability of their businesses, Morgan Stanley and JPMorgan Chase have taken steps to sell their commodity divisions, say people familiar with the matter.
Sad to report the death of a colourful character.
It's already been a tough week for job losses, and here's another firm said axing staff.
London's financial sector was last night bracing itself for another official investigation into alleged price-fixing following reports that a US regulator is considering launching an inquiry into the City's gold and silver markets.