Banks fear competition for top talent from tech companies that can offer similarly high pay combined with luxurious benefits. The NYT reports.» Read More
Twelve of the 13 most important U.S. financial firms were at the brink of failure at the height of the credit crisis in 2008, according to previously undisclosed remarks made by Federal Reserve Chairman Ben Bernanke in November 2009 to an investigative panel.
More banks in Europe will have to be bailed out because of the sovereign debt crisis, but overall the situation the in euro zone is improving, Harvard Professor Ken Rogoff said.
Bob Diamond will stamp his authority on Barclays next month, when the incoming chief executive announces a radical overhaul of the way it pays its top bankers as part of a broader strategic review that could see the group shed staff and put increased pressure on underperforming businesses. The FT reports.
Stocks closed far off the lows of the session, with the broad market ending largely flat, as investors weighed mixed earnings and economic reports and tech stocks sank for a second day.
Stocks held slight losses before the close, after a breif stint in positive territory, as investors weighed mixed earnings and economic reports and tech stocks sank for a second day. Caterpillar and DuPont fell, while Home Depot rose.
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.