Goldman Sachs will develop a chat tool called "Babble" that could replace the instant messaging service on Bloomberg's terminals.» Read More
NEW YORK, Feb 4- As investigations into alleged manipulation of the global foreign exchange market advance, class actions against the world's biggest banks are piling up, exposing the banks to potentially billions of dollars in damages.
*Michael Kors stock soars after results. *J.C. Penney shares slide after bearish comments. *Yum Brands Inc reaffirms 2014 profit outlook, shares jump.
NEW YORK, Feb 4- A federal bankruptcy judge on Tuesday approved JPMorgan Chase& Co's $543 million deal to end two private lawsuits stemming from its relationship with convicted Ponzi scheme mastermind Bernard Madoff. JPMorgan will pay $218 million to resolve class-action litigation and $325 million to resolve claims brought by the trustee, Irving Picard.
The age of the apology is clearly upon us — and it is not just about being polite. It has become de rigueur. NYT reports.
Feb 4- JPMorgan Chase& Co will pay $1.45 million to settle a government lawsuit that charged the company maintained a sexually hostile environment for women in an Ohio mortgage center more than four years ago. JPMorgan is creating a system to make sure sales opportunities are fairly distributed, according to the commission.
ZURICH/ LONDON, Feb 4- A jump in bonus payments at Swiss bank UBS AG stoked criticism on Tuesday that a previous cut was short-lived and banks have not learned lessons from the financial crisis. UBS said it had increased its bonus pool for 2013 by 28 percent to 3.2 billion Swiss francs, after a cut in 2012 when it was fined for rigging Libor interest rates.
SINGAPORE, Feb 4- The Australian dollar stole the limelight on Tuesday, surging over half a U.S. cent after Australia's central bank surprised some traders by dropping its bias towards easing rates.
WINCHESTER, United States- Federal Reserve Bank of Richmond President Jeffrey Lacker speaks on "Economic Outlook, February 2014" economy before Shenandoah University students, faculty and staff and community leaders- 1330 GMT.
SYDNEY, Feb 4- The yen hovered at two-month highs against the euro and dollar early on Tuesday, having powered higher as a selloff in risk assets forced investors to cover bearish positions in the low-yielding Japanese currency.
Feb 3- Shares in U.S. mobile operators fell sharply on Monday after a AT&T Inc price cut fueled fears from investors that market leader Verizon Wireless and other rivals would have to react.
NEW YORK, Feb 3- Emerging markets were facing headwinds going into 2014, but January's rout surprised even the gloomiest of investors, with big declines in stocks, bonds, and currencies.
LONDON, Feb 3- European banks have loaned in excess of $3 trillion to emerging markets, more than four times U.S. lenders and putting them at greater risk if financial market turmoil in countries such as Turkey, Brazil, India and South Africa intensifies.
LOS ANGELES, Feb 3- Student loan borrowers who feel trapped by high-rate private loans finally have more options to refinance their debt, but not everyone will be able to find relief.
JPMorgan's Global Manufacturing Purchasing Managers' Index dipped to 52.9 in January from 53.0, above the 50 mark that indicates growth for the 14th month.
Feb 3- AT&T Inc's plan to cut prices on its large shared data plans could prompt other U.S. carriers, particularly larger rival Verizon Wireless, to offer new discounts, analysts said.
MOSCOW, Feb 3- Russian hypermarkets retailer Lenta is to list its shares in London, the company said on Monday, potentially raising at least $1 billion and tapping the demand from investors for consumer-focused businesses buoyed by Russia's rising middle class.
The U.S. Justice Department is investigating financial funds that may have violated anti-bribery laws in their dealings with Libya.
Federal investigators are examining Goldman Sachs Group Inc, Credit Suisse Group AG, JPMorgan Chase& Co, Societe Generale, private equity firm Blackstone Group and hedge fund Och-Ziff Capital Management Group LLC, the Journal said.
MOSCOW, Feb 3- Russian hypermarket chain Lenta, part-owned by U.S. private equity firm TPG,, said on Monday it would float in London, tapping demand from investors for consumer-focused stocks buoyed by a rising middle class.
Also known as Generation Y, millennials have distinct views on what work and business should do for them and the world.