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Shinzo Abe's economic policies may be aimed at bolstering Japan's manufacturing groups, but the country's banks are suffering an Abenomics ordeal. The Financial Times reports.
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Standard & Poor's fired a fresh shot across the bows of the battered European banking sector on Wednesday, cutting its outlook on five European banks to negative from stable, suggesting downgrades are more likely.
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It will take at least a year to assess the impact that the fallout of the U.S. subprime crisis has on the European banking sector, but investors can bottom fish for some good opportunities, analysts said on Monday.
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There seems to be a “coalescence” of good news for the market, Cramer says.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.
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Indian billionaire Anil Ambani's Reliance Power raised $3 billion within a minute when the country's biggest initial public offering was fully subscribed on Tuesday as investors flock to new issues in the booming economy.
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Citigroup and Merrill Lynch were the world's top underwriters of stocks and bonds in 2007, measured by volume and reported fees, despite being at the epicenter of the global credit crisis.
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Stocks posted their biggest gains in a week even though a series of strong economic reports cast doubts about whether the Federal Reserve will cut interest rates next week.
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Josef Ackermann, Chief Executive of Deutsche Bank, has turned down an approach from Citigroup about taking the CEO job vacated last month by Charles Prince, the Financial Times reported.
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Selling in the financial sector bit into Tuesday's stock market performance and could do the same Wednesday. After the bell Tuesday, Fannie Mae announced that it was issuing $7 billion in preferred stock and chopping its dividend by 30 percent.
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Deutsche Bank is threatening to abandon plans to back Virgin Group's bid for Northern Rock, according to the Sunday Telegraph newspaper.
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Stocks closed sharply higher after a rebound by the battered financial sector spread across the entire market.
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Deutsche Bank signalled on Wednesday it could be interested in buying Deutsche Postbank, Germany's biggest retail bank.
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Leading European bank stocks tumbled on Friday as worries mounted that the U.S. subprime crisis has taken a sharp turn for the worse and will force another round of hefty writedowns of bank exposures.
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A cynical manipulation of the news flow or an honest miscalculation of windfall revenues? I don’t have an answer, but there was some surprise this morning that Deutsche bank results were slightly better than the guidance issued just four weeks ago. In the end, pretax profit for the third quarter was 200 million euros ($288 million) better than had been signaled, at 1.4 billion euros. In reality, I don’t think the spin of beating guidance will have distracted the market much from the unpleasantness contained in the divisional breakdown.
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Deutsche Bank's investment banking business made a loss of 179 million euros ($258 million) in the third quarter as global market turmoil left its mark on Germany's biggest listed bank.
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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.
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Citigroup said third-quarter profit fell 57 percent, hurt by losses and writedowns for subprime and leveraged loans, fixed-income trading and weakness in its consumer business.
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This morning, the world's second biggest drug company, GlaxoSmithKline, announced that Andrew Witty will replace JP Garnier as CEO at the end of next May. It's been known for a while that Garnier would be retiring next year, and the question was who would be tapped to succeed him.
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Is it time to get more bullish on the economy? That much awaited jobs number today certainly drove some of the recession scare out of the markets, but it hasn't really changed the picture for slowing growth so far.
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Stocks ended lower on Wednesday as strong manufacturing data released this morning offset broad declines in the tech sector. "From a technical perspective, seeing this kind of pullback is not bad, you want to see consolidation and see some base build," said Sean Brodrick, senior commodities analyst at MoneyandMarkets.com.
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Hard to say what the Dow really represents as a proxy for broader markets - but the S&P is not far from its all time high and that should send a clear enough signal that these equity markets want to go higher. The technicians like the longer term trend lines and so far there is no hint that we retest the August lows.