Banks lead this week after underperforming this year. Sector rotation of out defensive plays and into risk-on names is helping.» Read More
March 6- Safeway Inc, the second-largest U.S. mainstream grocery store operator, said private equity firm Cerberus Capital Management would acquire the company in a deal valued at about $9.4 billion. The offer price of $40 per share represents a premium of 1.3 percent to Safeway's Thursday closing stock price of $39.47 on the New York Stock Exchange.
*Four plead not guilty to criminal charges, SEC sues. "You always do in the last hours," the law firm's executive director Stephen DiCarmine replied to the Dec. 29, 2008 email from chief financial officer Joel Sanders, according to investigators.
"You always do in the last hours," the law firm's executive director Stephen DiCarmine replied to the Dec. 29, 2008 email from chief financial officer Joel Sanders, according to investigators.
Former top executives of Dewey law firm were charged with fraud and theft for concealing from banks,investors and other lawyers.
LONDON, March 6- The worldwide investigation into allegations of manipulation in the global currency market took another twist on Thursday, as Bank of America suspended a senior trader in London, a source familiar with the matter said on Thursday.
In Britain- a global investment banking hub and home to most of Europe's top-earning bankers- the annual results season has seen a series of banks disclose payments are on the rise, angering some shareholders.
Manhattan District Attorney Cyrus Vance Jr described the former executives of "concocting and overseeing a massive effort to cook the books" at the law firm.
The U.S. Securities and Exchange Commission on Thursday filed a related civil lawsuit against Davis, DiCarmine, Sanders and two former Dewey finance officials, finance director Frank Canellas and former controller Thomas Mullikin.
NEW YORK, March 5- The S&P 500 finished almost flat, just below its all-time high on Wednesday as investors shrugged off soft data on jobs and the services sector while keeping an eye on developments in Ukraine. A report from the Institute for Supply Management showed the services sector continued to grow last month, albeit at a slower pace.
NEW YORK, March 5- U.S. stocks barely moved on Wednesday, a day after the S&P 500 hit a new all-time high, as investors shrugged off soft data on jobs and the services sector while keeping an eye on developments in Ukraine.
NEW YORK, March 5- U.S. stocks were little changed on Wednesday after two days of sharp swings as investors shrugged off soft data on jobs and the services sector, while keeping an eye on developments in Ukraine.
The "Fast Money" traders share their final trades of the day.
NEW YORK, March 1- Berkshire Hathaway released its annual letter to shareholders on Saturday, written with Chief Executive Warren Buffett's usual combination of common-sense advice and belief in the power of investing. Following are highlights of the letter.
Barclays put out new work rules on Friday, including not allowing bankers to work in the office for more than 12 straight days.
On Thursday, Raymond James issued a press release about a Tuscaloosa, Alabama, adviser who joined on Feb. 21 after 31 years at Merrill Lynch, which is owned by Bank of America Corp. A Bank of America spokeswoman confirmed that Dedrick and his partner, Pam Franklin, had left, but declined to comment further.
MOSCOW, Feb 28- Russian hypermarket chain Lenta's stock market debut was clouded by political turmoil in Ukraine on Friday as investors reined in their exposure to Russian companies.
This is the latest settlement among 18 lawsuits over some $200 billion in mortgage-backed securities at the heart of the 2008 financial crisis.
NEW YORK, Feb 27- Societe Generale has agreed to pay $122 million to settle a lawsuit by a U.S. regulator accusing the bank of misleading Fannie Mae and Freddie Mac in the purchase of mortgage-backed securities.
NEW YORK, Feb 26- Bank of America Corp said it does not owe the U.S. government the $2.1 billion it is seeking in penalties after a jury found the bank liable for fraud over defective mortgages sold by its Countrywide unit, according to a court filing made on Wednesday.
Some of the names on the move ahead of the open.