Despite dire predictions that China faced a slew of defaults, few mainland borrowers have welshed amid various stripes of government intervention.» Read More
Indians have long been the world’s biggest buyers of gold . But this year gold jewelry demand in India dropped 30 percent year-over-year. Why? Because wealthy Indians have discovered diamonds.
LONDON, Oct 4- Charles Schwab and TD Ameritrade, two large United States- based trading firms, are shutting down some of their European businesses, marking the latest casualties of a slow trading year in the region. Charles Schwab warned clients on Tuesday it would close the European arm of OptionsXpress, its derivatives trading unit, on Nov. 30.
Peter Thal Larsen, assistant editor at Reuters Breaking Views, tells CNBC, "The idea of full service investment banking where you have a bank that tries to do everything for all clients is going to become harder and harder to sustain."
Concerns about Europe and slowing IT spending in North America were central in Nomura’s decision to trim estimates for numerous software companies on Monday. One analyst said that while the sector is suffering, they may be safe haven for investors.
The pan-European markets regulator has launched a probe into the way the big three credit rating agencies evaluate banks to determine if the process is sufficiently rigorous and transparent, the Financial Times reports.
European shares were called to open lower on Friday after Moody’s Investors Service cut the credit ratings of 15 of the world largest banks on Thursday, citing volatile market conditions and their continued exposure to the euro zone sovereign debt crisis.
Glenn Schorr, Nomura banking analyst, discusses investing strategies for the financial sector.
The Fast Money Halftime Report traders discuss Nomura's upgrade on Alpha Natural from "neutral" to "buy."
Macquarie Group, Australia's top investment bank, tipped a 25 percent drop in net profit for the year, double the fall analysts were expecting, as weak markets hit its trading and investment banking businesses. Its shares sank as much as 5 percent after it warned that its full year profit would slide.
Japan's Olympus said Tuesday top executives used acquisitions to hide massive losses, reversing denials of any wrongdoing as one of the largest accounting frauds in Japanese history.
Continued downward pressure on financial stocks could be expected as events unfold, especially the potentially disruptive forces that Europe may unleash, or the conclusion that the foreclosure and mortgage lawsuits are larger and more significant than currently believed.
"I think the markets are pretty much pricing a zero growth outlook for global GDP, which is a lot weaker than our own economists are forecasting," Ian Scott, chief global & european strategist at Nomura, told CNBC.
He’s widely followed for his prowess in timing the market and strategist Doug Kass says if you have a long-term time horizon, the time to go long Japan is -- now.
If unrest in the Middle East continues at the current pace, it will be hard to persuade investors that events will not spill over into Saudi Arabia, an analyst told CNBC.
For anyone in doubt that China is the market the world’s investment banks are most desperate to make their own, just take a look at the roster of the groups that last month led the initial public offering of AIA. The FT reports.
'This sector is probably better than people think. And if you look at the valuations, things have gotten very cheap, there is a lot of negativity around the group—but fundamentally the drivers are in place,' Nomura's Michael Nathanson told CNBC.
The discreet sign by the door does not say Lehman Brothers. But step inside: a bit of Lehman lives on here in Manhattan, reports the New York Times.
Just how much the US economy will expand this year and next remains a question among economists—with the wild card being the impact of European turmoil on US growth.
The price of regulation: From financial regulatory reform to a ban on naked short selling in some German stocks, the markets are reacting to the prospects of more regulation, lower growth, less risk, and a higher cost of capital.
Phrases like “green shoots,” “animal spirits” and “real consumer spending” are dominating analysts’ weekend reports as they track economic recovery. Yet, the economists with National Bureau of Economic Research are reluctant to declare the recession over.