The long awaited layoffs at Barcays Capital are underway.
Bob Diamond, the CEO of Barclays, told lawmakers on Wednesday the time for "remorse and apology" is over and attempted to convince politicians that "we need banks willing to take risks, to be confident and work with the private sector in the UK to create jobs and improve economic growth." Diamond said he wished the bonus issue could go away, and he might just get his wish.
Stocks closed up modestly, easing off the highs of the day, as upbeat earnings reports and rising commodity prices gave a lift to the market. BofA and Intel rose, while Verizon fell.
Robert Diamond, the chief executive of Barclays Bank—and the highest-paid banker in the United Kingdom—took to the barricades to defend the right of bankers to be compensated with eye-popping sums.
Stocks gained, although they traded down from the highs of the day, following a handful of positive earnings reports and rising commodity prices. BofA and Intel rose, while Verizon fell.
The barrage of reports from strategists on what investors should expect in 2011 has finally subsided and now, Birinyi Associates has issued a report on the reports. In a brief paper called, “Themes and Stocks for 2011” Birinyi analysts have waded through the verbiage of Wall Street’s strategists and came away with a few nuggets of note.
Why didn't a series of better-than-expected economic reports spark buying? The data was clearly bullish.
The market is pricing in that it's going to be another whippy year for the Euro. Here's why and how to strategize effectively.
If you enjoy inside baseball reporting about financial journalism, you'll love Felix Salmon's clever critique of an article in The Wall Street Journal about General Motors' recent attempts to pay down its debt.
Stocks ended lower as investors took a pause after stocks reached two-year highs, and the dollar rose as concerns over European sovereign debt worries resurfaced. Alcoa and JPMorgan fell, while Coca Cola rose.
Stocks slipped into negative territory Wednesday despite several positive economic reports, as concerns over European sovereign debt worries resurfaced. JP Morgan and Alcoa fell, while Coca Cola rose.
Barclays Capital did not go too far to get their yuletide cheer going this year.
It's party time again on Wall Street.
Is it really so bad if an elite cabal of bankers meets once a month in midtown Manhattan to conspire to about the rules governing derivatives trading?
In theory, clearinghouses exist to safeguard the integrity of the multitrillion-dollar derivatives market. In practice, they also defend big banks’ dominance, the New York Times reports.
See what's happening, who's talking and what will be making headlines on Friday's Squawk on the Street.
After you crunch the Primary Dealer Credit Facility (PDCF) numbers, you can see through the noise. What is revealed is this: The Fed's overnight lending to primary dealers concentrated staggering sums of government cash in the hands of a tiny circle of financial institutions. The story of PDCF lending is the story of those few financial institutions that went on to become just six banks.
The Federal Reserve lent a total of $8.95 trillion to primary dealers in exchange for a wide range of collateral under its Primary Dealer Credit Facility.
Although the Dollar is having its best month since May, U.S. equity markets remain fairly mixed in November as the month draws to a close today. However, this has not been the case for most major European indices.
Peter Boockvar at Miller Tabak had the most succinct comment: "If this is the reward for bailing out entire countries, why bother?...What the market is telling the European Union loud and clear is that they have no faith..."