"It's definitely politics. It has nothing to do with justice or restitution to the innocent victims," former Wells Fargo chief Dick Kovacevich says.» Read More
An international response is needed to the issue of the manipulation of the Libor to ensure that cartel behavior is not possible, Sharon Bowles, Liberal Democrat MEP for South East England and chair of the European Parliament's Economic and Monetary Affairs Committee, told CNBC on Friday.
Under-regulated and over-powerful banks weaken the global economy and lead to higher inequality, Nobel prize-winning economist Joseph Stiglitz told CNBC.
Several global recruitment firms have told CNBC they’ve seen a significant increase recently in the number of European bankers wanting to relocate to Singapore.
Nike misses earnings; RIM posts a larger than expected loss; Ford says it's feeling the effects of the European economy and Coty nears IPO.
Apple to invest $1 billion in Reno, Nevada; President Obama picks up support in swing states; SEC and Phil Falcone set for showdown and Saba’s Weinstein exits JPMorgan bets.
Garett Jones, Senior Scholar at George Mason University, Mercatus Center says that the banking sector could implement reforms that will wean them off constant state bailouts.
The Dow drops again to start the week; Lennar to in talks to talk $1.7 billion in loans from China; Facebook COO to join the board; Microsoft buys Yammer and Moody’s downgrades 28 Spanish Banks.
This month will likely be the first June for at least 20 years in which there were no European stock market flotations valued above $100 million, according to research from Dealogic.
Moody’s downgrades banks; Blackrock fund manager leaves; Twitter suffers an outage; AIG docks a chief for an inter-office relationship.
Fed extends operation twist; Bed Bath Beyond & Red Hat drop after hours; Jeff Bezos $42 million clock; an ice cream shortage; Coke to distribute protein shake; Apple store employees and Queen Elizabeth get raises.
Adobe beats earnings but shares fall; Jamie Dimon takes to Capitol Hill again but little new is learned; Wall Street waits to see what the Fed will do tomorrow; Steve Wynn’s former wife sues to sell her shares.
Microsoft unveils a tablet it hopes can rival the iPad; Oracle announces earnings early; a key exec departs JC Penny and Carl Icahn gets an ally on the Chesapeake board.
The markets jump on reports central banks are putting plans in place to prepare for the Greek elections; UK bankers say they will take whatever steps necessary to protect their currency; the video game industry continues its free fall; Allen Stanford is sentenced to 110 years in jail.
Six years ago, Wall Street and the City of London were consumed with “Goldman envy”. But that seems to be changing. The FT reports.
Jamie Dimon faces the Senate Banking Committee; Dick Clark Productions up for sale; Greek bank withdrawals increase ahead of the election; Spain credit rating is slashed; Tim Geithner discusses jobs growth.
Hong Kong’s banking regulator has bowed to private banking industry demands to cut red tape in a bid to help the Chinese territory compete better with Singapore. The FT reports.
Apple unveils their newest offerings including new MacBook Pro, maps app, Siri for iPad; the market relief over a Spain bank bailout was short-lived; NetJets expands the fleet; family median income falls to levels not seen since 1992.
Ben Bernanke underwhelms traders in his regular visit to Capitol Hill, Starbucks gets ready to roll out the K-Cups, Best Buy Chairman resigns, Barnes & Noble doesn’t like the e-book settlement.
Discussions continue as to how to recapitalize Spain’s troubled banks, Fannie Mae gets a new CEO, Sprint will soon be rolling out a pay-as-you-go iPhone, Starbucks and Coinstar strike a deal.
Goldman Sachs has laid off roughly 50 people last week, a number of whom were from the higher end of its pay scale, according to people briefed on the matter but not authorized to speak on the record, rattling sentiment with the firm. The New York Times reports.