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A year after the crunch, it's boom time again for bankers

Publié par Clifford Armion le 15/10/2009

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Patrick Hosking and Christine Seib

"Investment bankers are about to enjoy a record bonus season as confidence surges in the financial markets.

"Just 12 months after the global economy was brought close to collapse by reckless lending forcing banks to turn to taxpayers for help stock markets in London and New York are enjoying one of the strongest bull runs in decades and investment banks are preparing to announce huge profits.

"In Britain, job losses slowed in the three months to August. Unemployment rose by 88,000 to 2.47 million, the lowest rise since July last year, and youth unemployment fell slightly. China reported strong trade figures and oil hit a high for the year.

"Goldman Sachs, which employs 5,500 people in London, is expected to report a sharp rise in third-quarter profits today. Analysts estimate that, barring a major setback, the average London worker at Goldman will receive about $748,000 (£467,000) in salary and bonuses 13 per cent higher than 2007 and more than double the 2008 average."

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Pour citer cette ressource :

"A year after the crunch, it's boom time again for bankers", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), octobre 2009. Consulté le 12/06/2024. URL: https://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/a-year-after-the-crunch-it-s-boom-time-again-for-bankers