ALBANY, N.Y.— The New York pension fund for state and local government workers has risen to a record $183.5 billion following an investment return of 7.16 percent last year, the state comptroller reported Friday. The third-largest pension fund in the country, which lost $44 billion in the national recession, dropping to $110 billion, has risen 57 percent since.» Read More
US lenders pushing short-term loans that charge up to 5,000 per cent interest per year are targeting low-income UK borrowers abandoned by high street banks. The Financial Times reports.
Add health care fraud to ponzi schemes and insider trading at the top of the list of wrongdoing in the financial world.
Compensation levels for hedge funds and investment-management firms "are going to come down very significantly versus other parts of the economy," investor Barton Biggs told CNBC Friday.
While derivatives themselves carry risks and financial scandals have tarnished their image, many companies still use futures contracts, swaps, collars, and other hedging instruments to minimize volatility in their cost of doing business.
No time wasted. Only an hour after Sergio Ermotti was appointed interim CEO of UBS following Oswald Gruebel's decision to resign, the Swiss Italian banker, alongside Chairman Kaspar Villiger, addressed the media in a hastily arranged conference call.
The Obama administration, increasingly alarmed by the spillover effects of Europe’s financial crisis, has begun an intensive lobbying campaign to persuade Chancellor Angela Merkel of Germany to ramp up efforts to stem any contagion from the debt crisis in Greece, the NYT reports.
The way to solve the euro zone banking crisis for the long-term is for a third of the industry to disappear, according to Ralph Silva, the research director at financial management consultant SRN.
As Beijing clamps down on credit, investment capital is now migrating away from banks and their controlled lending rates toward non-traditional private lenders whose clients are willing to pay exorbitant-interest rates. Caixin Media reports.
Hedge fund firm GLG Partners’ recently-launched European Equity Alternative Fund will steer clear of financial services, Pierre Lagrange, partner and co-founder at GLG told CNBC on Wednesday.
Planned job cuts rose to 41,432 jobs in June, an 11.6 percent increase on May, but the overall pace of downsizing is at the lowest level for 11 years, according to the monthly jobs report by Challenger, Gray & Christmas.
When the going gets tough, the tough...err... head to Monaco. The world's largest fund managers headed to Monaco Tuesday to discuss the issues closest to their hearts.
Investors should prepare themselves for smaller profit margins as banks stash away more capital to avoid another global financial crisis, the world's major central bankers cautioned.
For many dads, the greatest Father's Day gift imaginable is the sight of a son or daughter working beside him in the family business. Here are some CEO dads whose kids hold executive positions in their companies.
A view of the retail investor from the front lines of the financial services industry, with Fredric Tomczyk, TD Ameritrade president/CEO.
For individual investors, who have long favored bank stocks as a source of dividends and at least the promise of stability, their recent performance has been a big disappointment. And few experts expect a turnaround anytime soon. The New York Times reports.
The European Union’s top financial regulator has warned the Obama administration that it must speed up and toughen its new banking rules in order to prevent American banks from having unfair advantages over their European counterparts. The FT reports.
See what's happening, who's talking and what will be making headlines on Tuesday's "Squawk on the Street."
The financial sector has failed to keep up with the broader market's rally off the mid-March lows, and that means something has to give, according to Carter Worth, Oppenheimer Asset Management's chief technician.
An investigation is under way into the handling of Prudential’s $35 billion aborted bid for Asian life assurer AIA, according to people familiar with the matter. The FT reports.
A top Justice Department official says a sweeping guilty verdict in a Florida mortgage fraud case adds another face to the financial crisis.