Fifteen of the world's largest banks are under investigation on suspicion of rigging the Brazilian currency, antitrust watchdog Cade said.» Read More
Veteran trader Raj Malhotra offers up some key advice for the summer interns if they want a full-time job on Wall Street.
There is a growing recognition across Wall Street that the old habit of ignoring these upstarts may be foolhardy, the NYT reports.
MSCI's decision to delay the inclusion of China-listed shares in its emerging market index weighed on mainland markets on Wednesday.
Low interest rates and concerns about future litigation are no reason to turn a blind eye to bank stocks, Dick Bove tells CNBC.
The "Halftime Report" traders give their top trades before the closing bell.
Goldman Sachs and other Wall Street firms warned clients to not expect much more out of the overall stock market for the rest of the year.
The "Fast Money" traders give their final trades of the day.
June 5- U.S. stocks were mixed in choppy trading on Friday as a stronger-than-expected May jobs report strengthened the view that the U.S. The strong jobs data indicated that economic growth was gaining traction after coming to a standstill in the first quarter, but Wall Street took a dim view as a rate hike could increase the cost of borrowing.
NEW YORK, June 4- Merrill Lynch this week surrendered to pressure from its retail brokers to allow them to cut account fees for wealthy clients, retreating from a two-year effort to force increases as part of a shift to a new platform, according to a memo obtained by Reuters. The policy gibed with a broad effort across Wall Street to curb heavy discounting of fees and...
HONG KONG, June 5- U.S. index provider MSCI could catch many global investors unprepared if it decides next week to add Chinese-listed yuan-denominated shares to one of its key benchmarks. MSCI will announce on June 9 whether it will push ahead with plans to include so-called China' A' shares in its Emerging Markets Index, a decision that MSCI says would draw $400...
BANK OF AMERICA'S MERRILL LYNCH GAVE BROKERS LEEWAY TO CUT FEES IN INTERNAL MEMO.
NEW YORK, June 3- Abacus Federal Savings Bank, which caters to the Chinese-American community in New York, New Jersey and Pennsylvania, was found not guilty of grand larceny and conspiracy on Wednesday after a three-month trial for the alleged sale of hundreds of millions of dollars worth of fraudulent mortgages to Fannie Mae, lawyers involved in the case said.
Goldman Sachs is recommending fund manager clients buy the stocks that their peers are neglecting in order to beat the S&P 500 this year.
LONDON, June 2- Tom Hayes, the first trader to stand trial on alleged Libor rigging charges, was called by Merrill Lynch and Deutsche Bank about possible job offers after being fired by Citigroup for alleged interest rate rigging, a London court heard on Tuesday. Hayes, who worked for UBS as a derivatives trader in Tokyo until he was poached by Citigroup> in 2009, has...
*Investors believe HSBC bosses need to announce bold moves. LONDON, June 2- No longer feared as "too big to fail", shareholders are weighing whether HSBC is now "too big to succeed", and want to know next week how the bank's bosses propose to increase profitability at a sprawling group beset by huge costs. "This investor day is potentially a very significant event," said...
WASHINGTON, June 1- Two units of Bank of America's brokerage arm Merrill Lynch agreed to pay $11 million and admitted they violated certain federal rules by using inaccurate data for short sale orders, U.S. regulators said on Monday. The SEC said that some of the stock Merrill placed on the list later became no longer easily available for borrowing.
June 1- Bank of America Corp has hired Brad Hutchinson from Barclays Plc to co-head its Americas energy investment banking business alongside Oscar Brown, according to an internal memo seen by Reuters. Brown and Hutchinson worked together for over a decade at Lehman Brothers Holdings Inc and Barclays before Brown moved to Bank of America in 2010..
WASHINGTON, June 1- The U.S. Supreme Court on Monday handed a win to Bank of America Corp by ruling that a second mortgage on an "underwater" home- one with a mortgage balance exceeding its current value- cannot by voided during bankruptcy. But Bank of America, which is the second mortgage holder in both cases, argued in court papers that the approach taken by the 11th...
The long bull market has spawned a lot of advice about the next big play, but analysts are now changing gears to tell investors boring is hot.
A recent rise in oil prices has lifted Russia's economic prospects but the economy remains headed for a sharp recession, a Reuters poll showed.