With Wall Street banks about to report on how much money they've been making, estimates are moving in the wrong direction.» Read More
Goldman Sachs chief Lloyd Blankfein admitted that not all Goldman Sachs clients are created equal in the eyes of the firm.
The firm ranks clients in terms of their importance.
On April 20th one year ago, the BP Deepwater Horizon exploded. During the past years, we have heard from the environmentalists as well as the representative of big oil on their positions on the defacto moratorium that has stopped deep water drilling in the Gulf of Mexico.
But caught in the middle of this energy tug of war are the Americans who call the Gulf home. We always talk about the U.S. economy as one entity. But in reality, the U.S. economy is a jigsaw puzzle of local economies.
Dr. Joseph Mason, the MasonHermann Moyse, Jr./Louisiana Bankers Association Endowed Professor of Banking at Louisiana State University and Senior Fellow at The Wharton School, has researched several reports on the economic cost of the Gulf Moratorium. I decided to ask him based on his latest research if things are getting better.
California’s tax collections grew at around half of what the state projected for 2010—indicating that the state’s fiscal situation may be even more dire than previously understood.
California’s tax collections grew 3.79 percent last year, according to data released by the US Census Bureau . At the start of 2010,California was projecting revenue growth of 6.5 percent.
The economy may be in worse shape than many economists and businesses expect.
Orders for US durable goods—manufactured items expected to last more than three years—were predicted to rise 1.5 percent overall, and to rise 2.5 percent excluding the volatile transportation sector.
Portuguese bond yields spike; bailout supposed to come 'soon' [CNBC.com]
Toyota to US plants: 'prepare to shutdown' [CNN Money]
Batch of earnings today includes Best Buy, Research in Motion and Oracle. Get your earnings coverage here .
Economic data includes initial jobless claims and durable good orders. [CNBC.com via Reuters]
Fed rejects Bank of America plan to raise dividend. [Financial Times]
Austerity measures rejected by Portuguese parliament.[CNBC]
Gold rises to record highs. [MarketWatch]
Since almost all regulation of merger and acquisition activity entrenches management and hurts shareholders, it’s not too surprising that the 172-page consultation document released by the U.K.’s takeover panel recommends a host of measures that will make it harder to oust bad executives through corporate takeovers.
Moves by many banks to reintroduce or raise their dividends following the Federal Reserve’s stress tests suggests that the tests may have accidentally created an non-economic need for banks to pay higher dividends.
High frequency trading firms may soon find themselves contemplating building a trading floor on transatlantic ships.
High-frequency trading that attempts to take advantage small price differences in the price of stocks, bonds or derivatives trading on two geographically removed markets requires super-fast trading.
Basically, the traders are trying to catch a fleeting arbitrage opportunity before the rule of one price kicks in and erases it.
As Treasury feeds us a steady diet of how much money taxpayers are making off the Troubled Asset Relief Program, you have to wonder why nobody thought of this idea sooner.
After all, if the worst that can happen from the collapse of the banking system is that we make money rescuing failing institutions, then who really cares how much risk they take? Can the Department of Bank Bailouts be far behind?
The first day of the week normally comes with the announcement of a merger or two, but these days a more appropriate moniker might be "Manic Monday."
With banks about to report on how much money they've been making, estimates are moving in the wrong direction.
Barclays plans to appoint former JPMorgan banker Jes Staley as its new CEO, the FT reports.