US prepares a lawsuit against Angelo Mozilo in a final effort to target the figure most associated with the subprime mortgage boom which preceded the financial crisis.» Read More
There were very good performances in asset management and investment banking, says Erik Oja, S&P Capital IQ, providing insight and reaction to JPMorgan's quarterly results.
The Fed needs to get off of zero interest rates in a reasonable time frame, says Paul McCulley, Pimco chief economist, discussing the Fed exiting its easy money policy.
Bill Gross is my friend, says Paul McCulley, Pimco chief economist, talking about his return to Pimco after the departure of Mohamed El-Erian. Pimco is in my blood, says McCulley.
The Fed has been successful against great odds and a great deal of criticism from Wall Street, says Paul McCulley, Pimco chief economist, sharing his thoughts on Fed policy, Janet Yellen and the economic recovery.
JPMorgan reported an 8 percent drop in profit amid pullback in trading of bonds and currencies, but topped Wall Street estimates.
Eric Wasserstrom, SunTrust Robinson Humphrey, breaks down Citi's earnings and provides a preview of what he expects to see from JPMorgan and Goldman Sachs' results.
Gerard Cassidy, banking analyst at RBC Capital Markets, discusses JPMorgan ahead of the bank's quarterly results.
Justin Knight, head of European rates strategy at UBS, discusses the euro zone's "credit problem" and whether the ECB's TLRTO measure will help.
*Report backs reform of existing ECB and 4 p.m. London fix. LONDON, July 15- The G20's global financial regulator on Tuesday urged deep-rooted change to how currency benchmarks are set, a response to allegations that dealers at major banks colluded and manipulated rates.
Edmund Salvesen, analyst at Brewin Dolphin, discusses Goldman Sachs ahead of the bank's quarterly results and comments on the banking sector.
SHANGHAI, July 15- China's yuan fell slightly against the dollar for the second day on Tuesday, pushed down by corporate demand for dollars after the central bank set another weaker midpoint, traders said.
Luca Silipo, Chief Economist for Asia Pacific at Natixis, explains why emerging countries will need a multilateral institution that oversees issues like financing.
*Fed chief to testify to Congress on Tuesday, Wednesday. TOKYO, July 15- The dollar edged up against the yen on Tuesday after the Bank of Japan tweaked its growth forecast lower, although currency moves were small as investors waited for Federal Reserve Chair Janet Yellen's congressional testimony later in the session.
FORTALEZA, Brazil, July 15- On the eve of the signing of a deal to launch a joint development bank, the BRICS nations have still not agreed on where the lender will be headquartered, a senior official involved in the talks told Reuters late on Monday. The five nations are Brazil, China, India, Russia and South Africa.
SHANGHAI, July 15- Major Chinese banks have temporarily suspended a yuan remittance service after a state broadcaster accused the country's fourth biggest lender Bank of China of allowing wealthy Chinese to launder money offshore through the scheme, the Wall Street Journal reported on Tuesday.
SAO PAULO, July 15- Itaú Unibanco SA borrowed a combined $480 million from a U.S. government-run lender and Wells Fargo& Co, as Latin America's largest bank by market value is increasingly using loan markets to finance clients in Brazil, its home turf.
John Caparusso, MD & Head of Banks Research at Standard Chartered Bank, says the country's new banking bill is "a normal part of risk management."
Vera Eve Lim, CFO of Bank Danamon, says a cut in the government's fuel subsidy program needs to be done even if it means short-term pain.
Mark Yusko, CEO & CIO of Morgan Creek Capital Management, says the bank's strong quarterly earnings assured investors, but warns of risks from tougher regulations.
Dissecting current market activity and gold's move, with Ylan Mui, The Washington Post; Harold Ford Jr., Morgan Stanley; "Fast Money" trader Tim Seymour; and CNBC's Kayla Tausche & Kelly Evans.
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