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Daily Dispatches: Rising fixed costs are causing a headache for banks

Investment banks are grappling with higher fixed costs as a result of an increase in base salaries, and are being forced to lay off staff. (Finance Asia)

Antony Jenkins, the new chief executive of Barclays, has ruled out a break-up of the scandal-hit lender, but said some businesses will "shrink". (The Telegraph)

Deutsche Bank co-chief executive officers Anshu Jain and Juergen Fitschen, less than four months after taking over from Josef Ackermann, may be preparing the largest revamp at Europe’s biggest bank in eight years. (Bloomberg)

The number of new permanent residents taken in each year in Singapore has dropped by half since the tightening of the immigration framework in late 2009, according to figures disclosed yesterday. And the government is reviewing the number of immigrants Singapore takes in, said Deputy Prime Minister Teo Chee Hean. (Today)

Chinese bankcard holders were less confident in August than in July as they cut their spending due to weak macro-economic conditions. (Shanghai Daily)

Until a few years ago, Vietnam was one of the world's hottest emerging markets. Now it faces an urgent task: fix a beleaguered banking system or watch its economy continue to slip behind faster-growing neighbours. (Wall Street Journal)

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