The resurgence of bonus guarantees underscores just how difficult it is to control Wall Street pay, despite the public outcry over how taxpayer money is being spent.
Stocks rallied to their highest closes since November Monday following encouraging economic reports from the U.S. and abroad and following news that auto sales got a boost from the "Cash for Clunkers" program.
Stocks rallied Monday after a pair of encouraging reports on the manufacturing sector, plus strong bank earnings out of Europe and expectations for strong auto sales. The S&P briefly topped 1,000, a level it hasn't seen since November.
Stocks got a quick pop at the open Monday after some strong bank earnings out of Europe and expectations that auto sales will show a boost from the "Cash for Clunkers" program. But the rally quickly fizzled.
Stock index futures indicated a strong opening for Wall Street Monday, helped by European markets that hit a broader-index high for the year on better-than-expected bank earnings.
Shares of William Morrison Supermarkets surged more than 8 percent to the top of the FTSE-100 Tuesday, after it said it expects to beat earlier expectations for its full-year results.
Music lovers weren't the only ones drawn to the King of Pop. Wooed by his global fame and earning power, a bevy of financial firms ponied up tens of millions to finance the singer's luxe lifestyle and kick-start his troubled career.
Goldman Sachs raised British bank Lloyds Banking Group to "buy" from "neutral," adding it to its conviction buy list, the bank said in a research note quoted by Reuters. Lloyds shared have topped the FTSE index Monday, rising nearly 7%.
JPMorgan tops a list of the world's strongest banks, while Royal Bank of Scotland suffered the biggest loss of any lender last year, according to new industry rankings on Wednesday.
Wednesday, 17 Jun 2009 | Source: The New York Times
Wall Street’s great investment houses have never faced a serious foreign challenge in their own backyard. But as tectonic shifts reverberate through the banking industry, their overseas rivals are edging into some of the most lucrative corners of American finance.
The Dow eked out a gain Friday, bumping it into positive territory for the year, as Bank of America shares rallied. But techs, energy and commodities retreated as crude oil dropped to around $72 a barrel.
Corporate bond market hot: what's up? While equity trading volumes have dried up in November, stock traders are talking about the avalanche of corporate bond issuance this month... Read More
Cautiously optimistic comments from two British banks this morning: HSBC earnings were better than expected and the tone of the report was upbeat, with bad loans down... Read More
On Wednesday, the Dow broke above the 10,000 level for the first time in a year with bulls driving stocks higher on stronger-than-expected earnings.... Read More
The G7 meeting of finance ministers, instead of an aggressive statement on the dangers of a weak dollar, opted for a mealy-mouth remark that "excess volatility and disorderly movements in FX rates have adverse implications for economic and financial stability." ... Read More