Shares in Tullett Prebon fell nearly 6% on Friday after unconfirmed reports that conversations involving a broker at the firm had been cited by regulators investigating Libor fixing allegations.
Bank of America has named Mike Joo head of global rates and currencies origination, the business that issues interest rate and currency products for corporate and commercial clients, according to a memo sent to employees.
Tullett Prebon has announced that it has entered into an agreement to acquire Elevation, LLC ('Elevation'), a mid-size equities, foreign equities and equities derivatives interdealer broker in the US.
The City broker Tullett Prebon plans to cut another 80 jobs against the backdrop of a "challenging market" and rising staff costs.
Here's a few links to some interesting Bloomberg, Daily Miror, Fox Business, MarketWatch, New York Post, New York Times, Reuters and Telegraph stories currently doing the rounds.
They marched them up to the top of the hill - now they're probably marching them down again.
Bloomberg reports that, according to its sources, the merger talks between inter-dealer brokers Tullett Prebon and Tradition appear to have stalled over price.