Fed Pessimism Fuels Asia Losses; Nikkei Up
Margaret Popper
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Morgan Stanley CEO James Gorman may face some intense questioning Tuesday at the firm's annual meeting. The shares are down more than 19 percent since Gorman took the helm 2010.
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JPMorgan Chase won a court victory today that may have saved it $769 million dollars.
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The traditional view of a chief financial officer is a bean counter focused on company finances. But the finance function is transforming from being known for saying 'no' to big projects to taking a role in growth and development.
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JPMorgan and Goldman Sachs reported fourth quarter results on Wednesday that beat estimates. However, comments from management and the share performance tell a different story: Banks are still struggling with revenue growth.
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Hostess Brands could close sales of some assets by mid-March, according to testimony in bankruptcy court in Lower Manhattan Friday.
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Allstate managed to keep its losses from Hurricane Sandy to $1.075 billion, less than 5 percent of the company's capital and about what it earned in the third quarter of 2012.