July 6- A U.S. appeals court on Monday upheld the conviction of an Illinois man who prosecutors said made nearly $1.2 million trading on inside information about mergers involving clients of Citigroup Inc, where his brother-in-law worked. The 9th U.S. Circuit Court of Appeals in San Francisco affirmed the conviction of Bassam Salman, who was sentenced in April...» Read More
An ex-Goldman Sachs programmer was charged on Thursday for stealing propriety computer codes used to support his former employer's high-frequency trading system.
A decade ago, New York City officials were so reluctant to give out food stamps, they made people register one day and return the next just to get an application. The welfare commissioner said the program caused dependency and the poor were “better off” without it.
With criminals growing increasingly sophisticated and organized, identity fraud is once again on the rise, according to a survey released by Javelin Strategy & Research.
President Barack Obama said a Tuesday meeting with top House and Senate leaders from both parties "went very well," but continued to ask for more bipartisan cooperation on pending legislative matters.
As the record federal budget deficit draws increasing scrutiny from Washington to Wall Street to Main Street, deficit hawks may take aim at entitlement programs including Social Security. And, the nearly 80 million Baby Boomers phasing into retirement will set in motion a dynamic that—if not addressed by Congress—could result in the next generation getting fewer benefits.
Senate banking committee chairman Christopher Dodd (D-Conn.) says negotiations on a bipartisan regulatory reform bill for the financial sector have "reached an impasse" and as a result he will move forward with a revised version of his draft legislation first unveiled in Novermber.
Senate banking committee members have made major progress in long-running negotiations over a financial reform bill, but time appears to be running out on forging a consensus package.
The New York Attorney General's office is filing civil charges against Bank of America and its former CEO Ken Lewis, saying the bank misled investors about Merrill Lynch when it acquired the Wall Street bank in late 2008.
It would take a sharp fall in the price of oil or another crisis to change Russia's economic system for the long term, Nouriel Roubini, economist and New York University Professor, told CNBC Thursday.
The Securities and Exchange Commission's new rule requiring publicly held companies to disclose their exposure to potential losses from climate change helps not hurts Corporate America.
President Obama would have to battle liberals, persuade China to boost its currency 40%, get the world economy to grow much faster and cut taxes for US exporters, the NY Times reports.
Contrary to popular belief - and one often fueled by misperception and misinformation, major IT services companies do not hoard visas and they do not displace American workers. However, before favoring massive H1-B reform or outright abolishment, opponents should take a closer look at its implications from a global perspective.
Many Americans think President Obama should spend more time on the economy and think his health-care plan is a bad idea, according to a new NBC News/Wall Street Journal poll.
The Supreme Court’s decision to treat business entities as “people” has fired up political pundits and lobbyists on all sides, writes William Dunkelberg, Economics Professor at Temple University.
The Democrat Debacle in Massachusetts offered a rare gift to President Obama: a premonition of the rout that was about to rack his own party in the mid-term congressional elections nine months from now. Instead, Bam is losing it.
President Barack Obama said on Friday that regulatory oversight of the country's banks might now be erring too much on the side of caution, potentially hindering the flow of credit to small businesses.
The Supreme Court has handed lobbyists a new weapon. A lobbyist can now tell any elected official: if you vote wrong, my company, labor union or interest group will spend unlimited sums explicitly advertising against your re-election.
With the possible collapse of the Congressional health care effort, health insurers might seem to have reason to celebrate. The legislation threatened to remake much of their business, with the prospect of burdensome government regulation and less profit from selling coverage to individuals and small businesses. The New York Times reports.
President Obama wants to cut down to size those too-big-to-fail banks. But his vow on Thursday to rewrite the rules of Wall Street left many questions unanswered, the New York Times reports, including the big one: Would this really prevent another financial crisis?
President Obama's crackdown on big banks could slow the economic recovery and spark a major selloff in stocks, some experts said.