Lunchtime Links: Has BarCap made a bad mistake? And where to live in London, according to your nationality

Yesterday was not a happy day for Barclays Capital. City AM points out that shares in Barclays fell 5.6% yesterday after finance director Chris Lucas said,"investment banking market conditions in May and June have been softer, in particular reflecting lower levels of capital markets and mergers and acquisitions activity."

This is particularly bad for BarCap, which has been investing heavily in capital markets and M&A and poaching lots of M&A bankers from Citigroup. Various BarCap FICC bankers have already made a swift exit, allegedly due to concerns that the profits from their division are being diverted to build up the weak capital markets and M&A business. Yesterday's announcement is likely to increase the tension.

Separately, estate agents Knight Frank have produced a report pointing out that 'overseas buyers' account for 68% of all property purchases more than 5m in London.

There's also a helpful table, shown below (scroll down), reflecting which nationalities buy properties in which areas of London. Conclusion: almost wherever you go, you're likely to be near a rich Russian.

Where are Wall Street's earnings going to come from? (Wall Street Journal)

BarCap's been hiring Swiss credit traders. (Wall Street Journal)

Arlene McCarthy wants the US to copy the EU's bonus restrictions. (Telegraph)

New York hedge fund tax hike stalls. (FinAlternatives)

"If a fee is deemed a bonus then we are all in big trouble." (FinTag)

"We believe we're not smarter than the market," said Goldman chief financial officer David Viniar. (Financial News)

How Goldman gambled on starvation. (Independent)

Union bosses are really rather wealthy. (BBC)

Michael Hintze: "You can do stuff with this sort of money." (Telegraph)