Stop bashing Wall Street for a hot second and think about what smaller bonuses REALLY means, says former trader Raj Mahal.» Read More
July 21- A former president of Qualcomm Inc's global business operations pleaded guilty on Monday to insider trading in shares of the mobile phone chipmaker and a company it bought in 2011, as well as to a related money laundering charge. District Judge William Hayes in San Diego, according to the U.S. Department of Justice.
Donald Sterling will be forced to sell off some of his real estate assets to pay back debt if Clippers aren't sold, a court witness says.
On the four-year anniversary of Dodd-Frank, perhaps there is a lesson big banks can learn from smaller, regional banks, says Dan O'Donnell.
July 21- Volume in Barclays Plc's private U.S. trading venue, or "dark pool," fell 79 percent in the week and a half after the New York attorney general accused the British bank of giving an unfair edge to high-speed traders, according to data released on Monday.
"People are starting to increase inventory to build for a better economy and a better outlook in quarters three and four," Richard Davis, chief executive of U.S. Bancorp, said after the bank reported earnings on Wednesday. U.S. Bancorp reported a 12.4 percent rise in commercial loans by volume for the quarter.
The United States Securities and Exchange Commission is targeting 10 firms in a high frequency trading probe, according to an SEC document.
NEW YORK, July 17- The U.S. Securities and Exchange Commission has been seeking information on 10 registered broker dealers as part of an ongoing investigation into high-frequency trading strategies, according to an internal SEC document reviewed by Reuters.
Strong showings in wealth management and investment banking helped Morgan Stanley more than double quarterly earnings and beat estimates.
Morgan Stanley's earnings jumped as stronger performances by its investment banking and wealth management businesses made up for a fall in bond trading.
July 17- Wall Street bank Morgan Stanley's quarterly earnings more than doubled, beating market estimates, as stronger performances by its investment banking and wealth management businesses more than made up for a fall in revenue from bond trading.
July 17- Wall Street bank Morgan Stanley's quarterly adjusted earnings more than doubled as stronger performances by its investment banking and wealth management businesses more than made up for a fall in revenue from bond trading.
Swiss bank UBS saw 15.4 percent growth in its wealth management business for 2013, firmly securing its position as world leader in the sector.
Asian equities ended mostly lower on Thursday as profit-taking offset a record close on Wall Street overnight.
WASHINGTON, July 17- U.S. housing finance companies Fannie Mae and Freddie Mac are making riskier deals as they increasingly purchase mortgages from smaller lenders, a federal watchdog said on Thursday.
Rejected Fox bid for Time Warner shows growth mood. NEW YORK— In a move that aims to counter consolidation among TV distributors, Rupert Murdoch's Fox has made an unsolicited takeover offer for rival media giant Time Warner for about $76 billion in cash and stock.
*Record client assets of $2 trillion trail those at Charles Schwab. NEW YORK, July 16- Bank of America's continuing investment in its Merrill Lynch wealth management business caused expenses in its global wealth sector to grow more quickly than revenue in the second quarter, the company said on Wednesday.
*Intel gains on earnings, outlook; semiconductors rally. *Time Warner rebuffs $80 bln bid from 21st Century Fox. Time Warner Inc shares jumped 17.1 percent to $83.13 and ranked as the S&P 500' s best performer after Twenty-First Century Fox confirmed it made an $80 billion takeover offer for the company that was turned down.
Department of Justice official on Wednesday issued a thinly veiled threat to Bank of America Corp, saying that banks under investigation for shoddy mortgage securities they sold before the financial crisis must admit to misconduct and pay substantial penalties or face lawsuits from the agency.
Stocks climbed on Wednesday, with investor sentiment lifted by corporate earnings, deals and better-than-expected data on growth in China.
For the first time in recent memory, financials investors are judging bank earnings by Main Street borrowing versus Wall Street trading.