US banks are due to meet at Apple's headquarters to receive strict guidelines on how to advertise Apple Pay to customers. The FT reports.» Read More
Some Wall Street companies might not resume paying New York City taxes for "a number of years'' because they can offset future profits with the losses they are currently suffering, Mayor Michael Bloomberg said on Monday.
The financial sector took several more body blows as losses from the credit crisis continued to mount at some of the world's biggest banks.
Smaller financial firms have found a way to capitalize on their larger rivals' woes, moving to snap up some of the top talent cast adrift by sweeping layoffs at leading investment banks.
UBS will separate its investment bank from its prized wealth management arm, paving the way to sell the business that made it Europe's biggest casualty of the credit crunch.
Stocks moved lower off the market opening on a fresh round of bad news for financials and an economic sign that the US consumer was continuing to struggle.
From mid-July to late July short interest dropped 5.34 percent, on average, in the shares of 17 major financial firms affected by the U.S. Securities and Exchange Commission emergency short-selling rule, according to the latest data from the exchange.
Wachovia increased its previously reported second-quarter loss to $9.11 billion to cover costs to settle a probe of auction-rate securities sales, and said it will cut more jobs as the housing market deteriorates.
New York Attorney General Andrew Cuomo's office, which is investigating Wall Street's sales practices in auction-rate securities, told JPMorgan Chase, Morgan Stanley and Wachovia on Monday that it wants to begin settlement talks immediately.
As of this morning, 449 (just under 90%) of the S&P 500 companies have reported earnings. Here's a look at which companies have had the biggest surprises so far...
Cramer's confident those mid-July lows won't be breached. Here's why.
Another week full of challenges for the stock pickers, another week of brave and ingenious stock picks.
Stocks rallied Friday as a more than $4 a barrel drop in oil prices offset the drag of Fannie Mae's earnings miss. It's going to be the same story next week: Energy prices. Even if there are disappointments in CPI or Wal-Mart's earnings, investors are expected to overlook them as the drop in gas prices puts more money in consumers' pockets.
For the week ending Friday, August 8, 2008, the U.S. markets ended the week on a positive note, cheered by a retreat in commodity prices, a Fed’s decision to keep rates steady at 2%, better-than-expected results in pending home sales, and a stronger dollar.
Swiss bank UBS has agreed to buy back $19.4 billion of debt securities whose value collapsed during the global financial crisis and to pay $150 million in fines to settle charges it misled investors, Massachusetts' top securities regulator said.
There are notable shifts occurring in the stock market on the dollar rally/commodity drop this week.
Stocks rallied Friday as a more than $4 a barrel drop in oil prices helped offset the drag of Fannie Mae's earnings miss.
Stocks rallied Friday as a more than $3 a barrel drop in oil prices helped offset the drag of Fannie Mae's earnings miss.
Despite markets' downtrends, Julius de Kempenaer from Talergroup said the worst is over for the financial sector.
Stocks ticked higher Friday as a more than $2 a barrel drop in oil prices helped offset the drag of Fannie Mae's earnings miss.
Melissa Lee reports a breaking story linked to Citi's settlement and buyback of auction rate securities during tonight's "Fast Money." In an after-hours announcement, another Wall Street giant, Merrill Lynch, stated it too would buy back auction rate securities from its retail clients, who currently hold $12B of those questionable securities.