Top Firm Said To Be Throwing Bonuses About

It's only news, of course, as Bank of America has taken $45bn in US government aid. Small wonder firms are queuing up to repay TARP funding.

And Bloomberg reports that three former Merrill Lynch bankers (Daniel Bayley, James Brown and Robert Furst) could end up facing a retrial in connection with Enron-related charges.

In the meantime, The Financial Times reports that Barclays President Bob Diamond has high aspirations for investment banking arm Barclays Capital. He told the newspaper early this week that 'our aim is clear - it's to be the premier global investment bank'. (Ed's note - I wish I had $1 for every time I've heard that said over the years).

The Wall Street Journal reports that Cantillon Capital Management is to close down its hedge funds. Assets peaked at $10bn, but are now down to just $3.5bn.

Finally, Reuters reports that Thomas Lee, JPMorgan Chase's Chief US Equity Strategist, said Wednesday that if we end up with a V-shaped economic recovery, we could see the S&P 500 up to 1,500 by the end of 2012.