Canaccord Genuity wields the axe

Here is a tale to add to the doom and gloom that has descended upon financial markets since the beginning of the year.

It would appear there has been a bit of a cull over at Canaccord Genuity, the Canadian stockbroker that has been gobbling up British brokers in the last couple of years.

I'm told by sources that over 30 of Canaccord's UK staff were booted out yesterday - that's almost 10pc of the company's British workforce. ..