'Material risk takers' will be eligible for awards of up to 10 times their fixed pay

FT story: Prices of stocks and other risky assets plunged on Monday as a sell-off that began last week accelerated, after Friday’s weak US jobs report stoked fears of a recession in the world’s biggest economy. US central bank needs ‘supersized’ 50bps rate cut in Sept or risk recession.

FT story: Hedge fund tells clients many supposed applications of the technology are ‘never going to actually work’

FT story: Office politics is not optional: learn to play the game or you’ll be its victim

Level last seen in 2002 as tech-fuelled equity rally throws up red flag on ‘Fed model’

Investors piled into fixed income in bet on falling interest rates

HSBC fired investment bankers on the day they were due to learn their bonus figures and gave no bonuses to many it let go, in a sign of how the bank is taking a more ruthless approach to costs under new chief executive Georges Elhedery.