LONDON, May 22- French bank BNP Paribas is reviewing its global markets business in London in an attempt to cut costs and improve its profitability, a person familiar with the matter said on Friday. BNP Paribas has about 4,100 staff in its corporate and institutional banking business in Britain. Efinancial News earlier reported BNP Paribas' rates and fixed...» Read More
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.
A 275 page report sheds light on what may have happened in the last days of MF Global, airlines consider more fees, Starbucks spends $100 million on bread companies, CBS Outdoor billboards business could fetch $6 billion.
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.