Bob Diamond is making a dramatic return to banking, launching a vehicle with Africa's youngest billionaire. The Financial Times reports.» Read More
SYDNEY, Dec 5- The yen held off a five-year trough on the euro and a six-month low versus the dollar on Thursday following a whippy session overnight that lacked conviction as key event risks including U.S. jobs data loomed.
Bank of America Corp. rose$. 10 or. 6 percent, to $15.63. Citigroup Inc. fell$. 09 or. 2 percent, to $52.04. Goldman Sachs rose$. 65 or. 4 percent, to $168.70.
Two court cases in Colorado say employers can fire workers for using medicinal marijuana off the job, but it could take years to settle the law.
WASHINGTON, Dec 4- A U.S. lawmaker critical of Wall Street is pushing the nation's six largest banks to voluntarily disclose their donations to think tanks, saying that not doing so threatens the credibility and research of these policy groups.
Deutsche Bank is committing about $2.3 billion to prove it's sorry that some of its employees rigged interest rates.
NEW YORK, Dec 4- Portfolio manager Joel Beam has spent the last 13 years investing in a part of the market that even many professional investors aren't familiar with. There are now 41 preferred funds tracked by Morningstar; 10 years ago there were only five, including the Forward fund.
The US plans to bring civil mortgage fraud cases against several financial institutions early in 2014, Attorney General Eric Holder said on Wednesday.
WASHINGTON, Dec 4- The U.S. Justice Department plans to bring civil mortgage fraud cases against several financial institutions early in 2014, using as a template the case that ended last month in JPMorgan Chase& Co's $13 billion settlement, U.S.
Bank of America Corp. rose$. 11 or. 7 percent, to $15.64. Citigroup Inc. fell$. 76 or 1.5 percent, to $51.37. Goldman Sachs rose$. 58 or. 3 percent, to $168.63.
BRUSSELS, Dec 4- EU antitrust regulators fined six financial institutions including Deutsche Bank, Royal Bank of Scotland and Citigroup a record total of 1.71 billion euros on Wednesday for rigging financial benchmarks. The other banks penalised are Societe Generale, JPMorgan and brokerage RP Martin.
Some of the world's biggest banks have been hit with a 1.71 billion euros ($2.3 billion) fine for interest rate-rigging by traders.
NEW YORK, Dec 4- Just a few years ago, Morgan Stanley lacked the expertise, infrastructure or desire to do a lot of lending, but today it is making a big push into loans to bridge a profit gap with rivals.
SYDNEY, Dec 4- The yen was squeezed higher across the board early in Asia on Wednesday, enjoying a bit of a reprieve as investors locked in profits ahead of major risk events including U.S. jobs data due later in the week. The dollar retreated to 102.35 yen from a six-month peak of 103.38 yen, while the euro slipped to 139.11 yen from a five-year high of 140.03.
BIRMINGHAM, Ala., Dec 3- Alabama's Jefferson County on Tuesday closed on a $1.78 billion sewer bond deal and brought an end to what had been the biggest U.S. municipal bankruptcy before Detroit filed for court protection from creditors in July.
Bank of America Corp. fell$. 19 or 1.2 percent, to $15.54. Citigroup Inc. fell$. 49 or. 9 percent, to $52.13. Goldman Sachs fell $1.67 or 1.0 percent, to $168.05.
Wall Street banks get clarity about a ban on betting with their own money next week when the CFTC meets to vote on the so called Volcker rule.
WASHINGTON, Dec 3- Wall Street banks will get the final decision about a controversial ban on betting with their own money next week after years of debate, as three U.S. regulators each announced meetings to vote on the Volcker rule.
WASHINGTON, Dec 3- The U.S. unemployment rate could fall substantially early next year as belt-tightening in Washington throws more than a million long-term unemployed Americans off the benefit rolls.
*U.S. nonfarm payrolls forecast to have risen 180,000 in November. WASHINGTON, Dec 3- U.S. job growth likely remained solid in November, with the unemployment rate falling, which could bring the Federal Reserve a step closer to curtailing its massive monetary stimulus.
The US unemployment rate could fall early next year as cuts throws more than a million long-term unemployed Americans off the benefit rolls.