Asian stocks followed Wall Street lower on Thursday on speculation that the Federal Reserve could pull back on its stimulus program soon.» Read More
Hilton Worldwide raised roughly $2.34 billion in its IPO on Wednesday after pricing shares toward the high end of the range.
WASHINGTON, Dec 11- When U.S. financial regulators finalized the Volcker rule on Tuesday after more than three years of work, the Obama administration claimed a major victory in implementing the sweeping Wall Street overhaul that Congress approved in 2010..
*Santander to buy 8 pct Bank of Shanghai stake from HSBC. MADRID/ LONDON, Dec 10- Santander, Spain's largest bank, is to buy HSBC's 8 percent stake in Bank of Shanghai, just as many international rivals are beginning to sell out of China.
ST. LOUIS-- Express Scripts has entered into an accelerated $1.5 billion share buyback deal with Bank of America. Shares will be bought pursuant to a share repurchase program previously announced by Express Scripts. Express Scripts Holding Co. is the nation's largest pharmacy benefits manager.
CNBC's Kayla Tausche has the numbers on how much it will cost the big bank to cover its legal fees, which includes $14 billion of reserves to handle litigation issues.
NEW YORK, Dec 9- Charles Schwab Corp on Monday said it will rebate quarterly fees paid by clients in its fee-based investment advisory programs "if, for any reason, they are not happy" with the service they receive. Firm founder Charles Schwab told Reuters he hoped the move would be disruptive to the financial advisory industry.
WASHINGTON, Dec 9- The Obama administration on Monday urged big U.S. banks to improve how they implement a government anti-foreclosure program, saying more can be done with the federal funds that go toward helping struggling homeowners.
What's the theme for 2014? It's still murky, but I'm increasingly warming to the idea of a synchronized but low-key global recovery.
CARACAS, Dec 8- Venezuelan President Nicolas Maduro pledged to deepen his "economic offensive" to force businesses to cut prices after his ruling Socialist Party won the most votes in weekend municipal elections.
M&A activity looks to pick up. Debt markets should expand. Clients may stop nagging about fees. What's not to like?
NEW YORK, Dec 6- General Electric Co has agreed to pay as much as $18.25 million to settle a class action lawsuit accusing it of rigging bids for municipal securities, court papers filed on Friday show.
The S&P continues to soar, but a Nobel warns of a bubble and 'the smartest guys in the room' get plenty wrong: This week's market winners and losers.
Dec 6- A federal judge has granted final approval to Bank of America Corp's record $500 million settlement with investors who claimed they were misled by the bank's Countrywide unit into buying risky mortgage debt. Countrywide had been the largest U.S. mortgage lender before Bank of America bought it in July 2008.
Goldman Sachs may be one of the last firms standing as a rocky romance between Wall Street and raw material markets turns sour.
NEW YORK/ LONDON, Dec 6- Just over three decades ago, Goldman Sachs bought a niche coffee-and-gold trading firm called J. Aron& Company, becoming one of the first banks to enter the commodity markets. On Thursday, Deutsche Bank, one of the five biggest players of the past decade, said it would quit commodities trading under regulatory pressure, cutting 200 jobs.
Dec 6- PNC Financial Services Group Inc will pay Freddie Mac $89 million to resolve all repurchase liabilities on home loans sold to the government-backed housing agency through the end of 2008.. Earlier this week, Bank of America said it settled with Freddie Mac on all claims arising from residential mortgages sold to the agency through the end of 2009..
Thefts of bitcoin, including a reported $100 million heist, have been growing, but law enforcers have largely stayed out of investigations. The NYT reports.
A ban on the use of cryptocurrencies cannot be ruled out, although China’s latest rulings are an acknowledges the growing use of digital currencies.
A US judge is considering an alternative that could result in Bank of America paying much less than the $863.6 million the government is seeking.
NEW YORK, Dec 5- A U.S. judge is considering an alternative that could result in Bank of America Corp paying much less than the $863.6 million the government is seeking as a penalty for the sale of defective mortgages before the financial crisis.