Morgan Stanley, Citigroup and Credit Suisse made some of the year’s biggest cuts in compensation for investment bankers, averaging as much as 30 per cent, as Wall Street firms grappled with lower revenue. (Bloomberg)

The former chief executive of the Royal Bank of Scotland, Fred Goodwin, has been stripped of his knighthood by the Queen for his role in the creation of the biggest recession since the second world war. (Guardian)

Two former senior traders at Credit Suisse plan to start a hedge fund this year that will invest in stocks and derivatives tied to Asian companies, according to two people with knowledge of the matter. (Business Week)

US prosecutors expanded their insider-trading case against former Goldman Sachs Group Inc. director Rajat Gupta ahead of a trial set for April, increasing the number illegal tips he is charged with in a new criminal indictment. (Wall Street Journal)

Drive, confidence and a willingness to venture out of one’s comfort zone – these are what entrepreneurs and top chief executives are looking for in their employees, said Singapore Education Minister Heng Swee Keat, addressing about 300 undergraduates at Singapore Management University. (Asia One)