How Much Cost That Doggie In The Airplane Seat ?
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According to the newspaper, the rub is that the couple have a beloved shih tzu (called Allie), which apparently goes everywhere with the couple. But UK aviation rules preclude the mutt from flying anywhere but the hold. Not wanting to upset dear 'Allie', the couple fly into Paris (on the way back to London), as the French allow dogs to travel with the passengers. The banker and her husband are then said to be driven through the Channel Tunnel in their chauffeured Jaguar. The dog is slung in the boot.
In the meantime, Bloomberg reports that Deutsche Bank has reported a $1.55bn profit in the first-quarter, after a strong performance from fixed income in the period. CEO Josef Ackermann, 61, has been reappointed by the board for a further 3 years. His contract, which will need to be approved by shareholders, will be extended until 2013.
And Fortune magazine reports on speculation that former Bear Stearns CEO Alan Sschwartz may be on his way to Goldman Sachs.
Reuters reports that Citi is likely to receive $5.2bn for the sale of much Nikko Cordial Securities and part of Nikko Citigroup to Sumitomo Mitsui Financial Group. And Dow Jones Newswires reports that Daiwa Securities came out Tuesday to deny speculation that it is to enter into a 'comprehensive tie-up' with Sumitomo.
MarketWatch reports that Hong Kong's financial regulators have been looking into allegations that mentally ill and elderly investors were mis-sold high-risk equity-linked notes designed by Lehman Brothers.
The Wall Street Journal reports that French bank Societe General has sent a memo to staff confirming that any losses over at its asset management unit would be 'limited in scope and manageable for the group'. A report in a French newspaper Monday said that the French bank faced losses of up to $13bn.
Finally, Reuters reports that the US Securities and Exchange Commission has been looking into the activities of around 150 hedge fund in connection with credit default swaps. No further details are known at this stage.
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