Manufacturing and corporate profits are both in recession mode, even though the rest of the U.S. economy continues to limp along.» Read More
When a senator leaves office, the lobbyists who once worked on the officeholder's staff lose about a quarter of their income, according to a new study from three economists at the London School of Economics .
Whenever Wall Street gets news it expected the risk is always for a selloff, as traders generally price in the development ahead of time and then take profits.
That wasn’t the case, though, with the bank dividend announcements Friday, with investors cheered that some of Wall Street’s biggest names that had been on the hook to the government now will be able to start returning money to shareholders.
Sad news. David Rosenberg's daily letter "Breakfast With Dave" is going to a paid model. We'll miss him.
The best and the brightest young business minds in America are once again flocking to Wall Street—and tripping an offbeat alarm bell for the markets along the way.
More Harvard M.B.A. graduates took jobs on Wall Street last year than the previous year, when the financial sector was still reeling from the crisis of 2008. Thirty-one percent the class of 2010 took jobs in “market sensitive” positions in the financial sector.
The Fed’s bank stress tests long have been thought of as little more than a pro forma exercise to let Wall Street’s lucky and leveraged start to increase dividend payouts, but the lists of winners and losers could get interesting.
While at least four of the 19 banks that were tested under the new Basel III rules were considered lead-pipe cinches for approval, others were on the bubble. Results are expected to come today.
I'm not sure if prosecutors are doing an effective job of proving the case against Raj Rajaratnam. But they certainly have proved that Rajat Gupta was a bad seed.
Tapes played during the Rajaratnam trial have Gupta revealing confidential merger discussions he was privy to as a member of the board of Goldman Sachs . That's bad enough.
But, as Evan Newmark points out, it may be even worse how blandly Gupta reacts to a discussion about confessed insider trader Anil Kumar.
The Libyan government announced an immediate cease fire on Friday morning—just hours after the U.N. authorized the use of force against the Qaddafi regime to protect civilians.
The Libyan Foreign Minister, Moussa Koussa, is quoted by CNN as saying that Libya is "obliged to accept the Security Council resolution that permits the use of force to protect the civilian population," and that the Qaddafi regime will engage in "an immediate ceasefire and the stoppage of all military operations."
CNBC has learned before President Obama leaves for Rio, he'll be getting a letter signed by more than 18 GOP Governors calling on the President for more energy options.
The detailed letter obtained by CNBC lays out concerns over the EPA's policy and regulatory initiatives, saying these regulations will "within the next five years which will significantly impact the energy industry, increase burdensome costs to consumers, and hurt the competitiveness of U.S. manufacturers."
United Nations approves military force in Libya, including no fly zone. [CNBC]
Repairs at Japanese nuclear plant continue. [NY Times]
Japanese supply chain concerns grow. [Reuters]
Chinese central bank raises rates. Again [ZeroHedge]
Markets seem to be be moving higher and shirking off bad news no matter what, strategist Michael Farr says.
Barclays was hit by a $108.5 million fine on Thursday as it allegedly worked with super-rich clients in a way that could have facilitated financial crime.
A class action lawsuit accuses banks of conspiring to limit competition in the $320 trillion market for interest rate swaps.