Bare-chested and singing, some of the City's top bankers ripped off their business attire in a video for a fundraiser.» Read More
From the chatter heard on Wall Street, you'd think Citigroup was running out of money.
The yen rose broadly Thursday after brokerages downgraded two of the largest U.S. banks, knocking equities lower and sparking fears that fallout from the credit crisis may sap investor appetite for risk.
If the Fed isn't going to cut rates any more, that means bad news really is ... bad news. And with continuing concerns about the financial sector and oil prices, there is plenty of bad news.
European bank stocks took a dive on Thursday as fear spread among investors that the U.S. subprime crisis will take another huge chunk out of profits in the fourth quarter.
In addition to the realization that economic news would have to be really bad for the Fed to cut rates further, there are two problems with the markets today, both dealing with a change in perception on two key sectors--financials and energy.
Futures are down for several reasons: 1) Now we're really data dependent. Part of the problem with the market this morning is the realization that the economic data will have to be REALLY weak for the Fed to lower rates further.
Despite the positive economic news, there is concern about the consumer out there. Morgan Stanley just downgraded large cap banks like Citi, Bank of America, and Wells Fargo; the note was ominously titled, " Consumer Contagion Coming."
The rapid fall of Stanley O'Neal from the helm of Merrill Lynch has left investors wondering who else in the banking industry may pay a price for the U.S. subprime mortgage crisis.
British bank Northern Rock said it continues to work with a number of companies as part of its strategic review and has developed structures to allow it to seek interest from other parties.
Countrywide Financial Chief Executive Angelo Mozilo on Friday said the U.S. Securities and Exchange Commission has opened an informal inquiry into his stock sales, confirming previous reports, and that he and the company are cooperating.
If the Fed cuts next week as expected, what’s the trade right now?
The "kitchen sink" theory is out the window. There's a trust problem developing on the Street. Remember a few weeks ago traders drove up the stocks of companies like Citigroup, even though they did take very large losses for subprime and CDOs?
The Federal Reserve thinks the so-called super SIV could help beleaguered financial markets, and its silence on the matter should not be seen as indicating a lack of support for the plan, a senior Fed official said Monday.
Banks and other financial institutions have expressed interest in providing more than $60 billion towards a super-sized fund aimed at bailing out structured investment vehicles, The Wall Street Journal reported on Sunday.
The world's top banking lobby on Sunday accepted responsibility for the U.S. subprime lending crisis and launched a broad reform program designed to mend cracks in ailing credit markets.
AmEx on Monday will tell us about how consumer spending looks, but the pattern is clear: CEOs are talking down expectations. Sound familiar? They did this before! At the end of Q1, there were all sorts of comments from CEOs not to expect much in Q2 and Q3.
Wachovia on Friday posted a 10 percent decline in quarterly profit, missing forecasts, amid $1.3 billion of write-downs at its investment banking unit. Also: All about Wachovia's $7 billion potential headache.
WPP, the world's second-largest advertising and marketing services firm, posted third-quarter underlying revenue growth of almost 5 percent on Friday, near the lower end of forecasts and knocking its shares.
Citigroup executives say they have enough funding in place to support the $80 billion in structured investment vehicles the bank manages and won't be forced to sell assets atdistressed prices, The Wall Street Journal reported on its web site.
Cramer answers questions on the stock market, job market and beyond.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.