Bank of America Merrill Lynch will lay off 20-30 people from the firm's proprietary trading desk, a spokesperson for the company confirmed to CNBC Wednesday.
Lawmakers may have unintentionally opened the bond-market up to high frequency traders by passing the controversial Blanche Lincoln derivatives clearing requirements as part of the Dodd-Frank financial reform bill.
A report by the Environmental Protection Agency describes the contents of all the garbage produced in a single year. According to the 2008 report, approximately 250 million tons of municipal solid waste is created, which excludes hazardous waste, industrial waste, and construction waste.
New EU banking regulation must focus on institutions’ individual business models, rather than simply their size, Jacques de Larosière, co-president of think tank Eurofi told CNBC.
The United States crossed an important marital threshold in 2009, with the number of young adults who have never married surpassing, for the first time in more than a century, the number who were married, reports the New York Times.
A boom in population and development, particularly in the Southwest, has created higher than expected demand for water, and an 11 year drought has siphoned off the supply.
With an estimated 100 million tons of plastic afloat in the Pacific Ocean already, ocean-borne plastics are a huge environmental problem. But new technology, consumer education and a long-term vision could be coming to the rescue.
The Federal Reserve has not run out of options to boost the economy and must focus on managing people's expectations to avoid a prolonged slump like Japan experienced, former Fed Governor Randall Kroszner told CNBC Tuesday.
Women made little progress in climbing into management positions in this country even in the boom years before the financial crisis, according to a report to be released on Tuesday by the Government Accountability Office, writes the New York Times.
JPMorgan Chase has notified federal regulators that it may seek to recoup the money it used to buy the assets of fallen Washington Mutual, or even more.
Have you been working to boost your credit score before trying to get a mortgage? It may not yield the payback you expect.
Midterm election years are usually before-and-after stories for the stock market. "The before is almost always negative and the after is almost always positive," says Sam Stovall of Standard & Poor's. This year, however, could be different.
Politicians are in full swing. Businesses are the scoundrels du jour and the proposals are flying fast and furious to regulate their behavior
For all of the political noise about tax policy, cuts, it is hard to make a convincing case that either cuts or hikes make much of a difference in economic growth or job creation. "I really don't think you can," says one economist.
Record spending in the midterm elections will provide a large cash infusion for broadcasters and other media outlets, as the industry struggles in the aftermath of the recession.
If the market in scrap is any indication, the US can recycle the fear of a second recession into a more positive economic outlook.
As gold tops $1,300 an ounce, lawmakers in Washington are aiming to ensure that consumers don't get trounced by bad gold deals.
Back in 1987, the movie “Wall Street” inspired a generation to enter the world of finance. But within that industry, attitudes toward the long-anticipated sequel are surprisingly subdued. The main concern: that the new movie will be a platform for bank-bashing.
The repo market was central to the dramas of 2008. One of the main reasons why entities such as Lehman Brothers collapsed, after all, was that investors fled from repo deals, because they became frightened about counterparty risk.
Why renown trader Mark Fisher, founder and CEO of MBF Asset Management, thinks now is the time to get into these asset classes.