Medical devices maker Biomet filed for IPO to raise up to $100 million.» Read More
Malpractice continues in the banking world and "bag eggs" remain, warned Bill Winters, former JPMorgan executive.
LONDON, Feb 13- Have the mega-buck years of bond and interest rate trading gone for good, or will normal service resume after an ugly 2013? However, many are already changing, and the likes of Deutsche Bank, Barclays and Morgan Stanley look set to make deeper cuts to their fixed income divisions to deal with weak volumes and tough regulation.
Fleming, the head of Morgan Stanley's wealth and investment management businesses, is on the bank board's list of candidates who could potentially succeed Chief Executive James Gorman, according to sources with direct knowledge of the situation. But colleagues and recruiters say he is also a flight risk for Morgan Stanley.
New York's financial regulator said the explosive growth of non-bank mortgage servicers is a "troubling trend" that must be confronted.
NEW YORK, Feb 12- New York's financial regulator on Wednesday said the explosive growth of non-bank mortgage servicers is a "troubling trend" that must be confronted "before more homeowners get hurt."
Fleming, the head of Morgan Stanley's wealth and asset management businesses, is on the bank board's list of candidates who could potentially succeed Chief Executive James Gorman, according to sources with direct knowledge of the situation. But colleagues and recruiters say he is also a flight risk for Morgan Stanley.
Thanks to a longstanding legal exemption that Fed officials say limits their regulatory capacity, Morgan Stanley and Goldman Sachs may yet emerge from the regulatory upheaval that is upending banks' commodities trading better-off than their peers, who face potentially tougher new rules.
Senator Elizabeth Warren of Massachusetts and Representative Elijah Cummings of Maryland said in the letter to Fed Chair Janet Yellen that the board only voted on 11 of about 1,000 enforcement actions taken during the last 10 years.
NEW YORK, Feb 11- One of the best stock pickers in America for the month of January was a 56- year-old Taiwanese immigrant working out of a small office in suburban New Jersey, 25 miles from Wall Street.
One ranks among the greatest wealth creators of all time. The other has made investing during crisis an art form. Who has mattered more?
A woman gets a letter from her bank addressed to a 'slut'. It sheds light on a silent industry that makes billions by reselling data about our lives.
Phillip Murphy, who was a managing director of Bank of America's municipal derivatives desk from 1998 to 2002, pleaded guilty to conspiring to make false entries in reports and other papers sent from his desk to bank management.
The "Fast Money" traders share their final trades of the day.
NEW YORK/ LONDON, Feb 7- Swiss industrial conglomerate ABB Ltd is seeking to divest several units whose sale could raise more than $1 billion in total proceeds, according to people familiar with the matter, joining a list of large companies looking to shed non-core businesses.
Some of the names on the move ahead of the open.
NEW YORK, Feb 4- A new judge presiding over Bank of America Corp's proposed $8.5 billion settlement with investors in soured mortgage securities on Tuesday postponed entering a final judgment in the case, raising the possibility of additional legal maneuvers.
A former Harvard professor is worried the Fed's monetary policy could spur an unintentional financial crisis, causing a run on the banks.
Terence Burnham, a finance professor at Chapman University, discusses banking risks, saying "The Fed's instability is linked to both the emerging markets and Bank of America's balance sheet."
ZURICH/ LONDON, Feb 4- A jump in bonus payments at Swiss bank UBS AG stoked criticism on Tuesday that a previous cut was short-lived and banks have not learned lessons from the financial crisis. UBS said it had increased its bonus pool for 2013 by 28 percent to 3.2 billion Swiss francs, after a cut in 2012 when it was fined for rigging Libor interest rates.
LONDON, Feb 3- Bank of America Merrill Lynch is raising salaries for some of its senior bankers by about 20 percent, a person familiar with the matter said on Monday, to get around a new European Union cap on pay.