NEW YORK, Sept 19- Merrill Lynch fired two veteran brokers from its Private Banking and Investment Group two weeks ago for guiding clients to invest in a hedge fund outside of the brokerage firm.» Read More
Falling stock market turnover in Hong Kong and Singapore is increasing pressure on medium and small-sized brokerage firms, hurting their commissions and forcing some to cut jobs.
The Dow continues to have a choppy May, Kayak delays its IPO, U.S. Treasury yield hits record low, TiVO goes into the red, Lionsgate reports a loss and Virgin Galactic gets the go ahead for a test flight.
CNBC's Mary Thompson reports the latest detail from Goldman Sachs' annual shareholder meeting.
Yra Harris, Praxis Trading, discusses which market moving activities traders will be watching ahead of the opening bell and shares his perspective on repealing the Glass-Steagall Act.
Sen. Jeff Merkley, (D-OR), provides a preview of today's hearing in Congress and discusses JPMorgan's $2 billion trading blunder, and why he thinks banks used for loans should not be in the hedge fund business.
Bart Chilton, Commodities Futures Trading Commission commissioner, weighs in on an open probe into any wrongdoing in JPMorgan's $2 billion plus trading loss.
Steve Bartlett, Financial Services Roundtable president & CEO, discusses JPMorgan's trading blunder, the Dodd-Frank Act and the impact of regulations on big banks.
While few other banks, if any, pursue the complex strategies that led to JPMorgan’s losses, many traditional lenders regularly buy and sell securities, and make bets with derivatives, as part of their core operations, the NY Times reports.
The Squawk Box crew take a look at Goldman's first quarter numbers with EPS of $3.92 vs. $3.55 est, and revenues of $9.95B vs. $9.48B. The banking giant also raises its quarterly dividend.
Dick Bove, Rochdale Research, discusses the compensation of big bank CEOs; the outlook on financials; and the possible downgrade on Morgan Stanley.
Sharpen your pencils, it's Last Call quiz time.
MF Global’s top lawyer is to tell Congress that she was unaware of a gaping shortfall in customer money until hours before the brokerage firm filed for bankruptcy on Oct. 31. The New York Times reports.
Wall Street used to be a magnet for America's best and brightest but between the economic slowdown and recent scandals like the Goldman Sachs employee that resigned via a NY Times op-ed, the industry's cachet has been tarnished.
Like shifting sands, financial markets are rapidly realigning, and that trend will be the thing to watch Thursday, when inflation data and the latest jobless claims are released.
The Fed sounded the all clear for most major U.S. banks, and its stress test results could be positive for stocks Wednesday, even though four of the 19 institutions failed.
Howard Lutnick, BGC Partners CEO, discusses his company's incredibly high 9.6% yield; its thriving commercial real estate business; and the outlook on this small-cap speculative stock, with Mad Money's Jim Cramer.
Canaccord Financial and China's deep-pocketed Eximbank announced plans on Thursday to form a $1 billion fund to invest in Canadian resources, the newest push by the Asian giant to gain access to Canada's oil and minerals.
The Facebook IPO is a terrific illustration of what Morgan Stanley is doing right, says Mad Money's Cramer, so if you can't wait to grab some shares in the IPO, buy MS instead, the lead underwriter on the deal, and a brokerage house that's making a fabulous comeback.
Even as the Securities and Exchange Commission has stepped up its investigations of Wall Street, the agency has repeatedly allowed big firms to avoid punishments, The New York Times reports.
The Fast Money traders, with the trade on today's market activity; the tech sector; and RadioShack's after hours sell-off, and whether it's a likely takeover candidate. Also, the trade on big banks, with Fred Cannon, Keefe Bruyette & Woods, warning investors that what looks to be value stocks in the financial sector now, could end up being a value trap, if estimates get cut as they did last year.