When the European Union stepped in this spring with a €750 billion ($955 billion) rescue package to back Europe’s weaker economies, the threat of imminent default practically disappeared, the New York Times reports.
Nicolas Sarkozy on Wednesday set out his agenda for France’s forthcoming presidency of the G20 group of leading economies, proposing measures to reduce currency fluctuations, curb commodity speculation and speed up reform of international institutions.
Some federally insured banks say that they will continue to make speculative bets using their own money on behalf of clients, even as the new rules go into effect over the next few years. The New York Times reports.
The present administration is waging an “undeclared oblivious war against equities,” Cramer said Wednesday.
Convicted Ponzi schemer Bernard Madoff is somewhat of a celebrity at Butner Federal Correctional Institution. How could he not be? But celebrity only gets you so far, and for Madoff—a private man even in happier times—it is a double-edged sword.
Bernard Madoff's Ponzi scheme, estimated at $65 billion dollars, is still making headlines, as investigators follow the money trail nearly 14 months since he was sentenced to 150 years in prison.
Wall Street's gotten a bad rap, and CNBC's Jane Wells has found it.
Brokers who allowed high-frequency traders to have access to the markets without undertaking proper checks on them face potential fines as part of a clampdown following the “flash crash”, the head of a US watchdog said on Sunday. The FT reports.
Federal investigators are hearing testimony from BP executives in a joint probe into the cause of the explosion that led to the massive oil spill in the Gulf of Mexico.
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Paolo Pellegrini, an architect of the most lucrative bets on the housing bust, is dramatically paring back his hedge fund, according to someone familiar with the matter.
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“In the late summer of 2008, as Lehman Brothers teetered at the edge, a bell tolled for Wall Street,” so writes Roger Lowenstein in his book, "THE END OF WALL STREET." The bell may have sounded, in 2008, but for those who were really listening, there were warning signs of a financial crisis long before the summer of 2008.
There are many books written about the global economy’s collapse by those who can quote their ‘inside’ sources, but the ultimate ‘insider’ — the man who was actually IN the INSIDE and at the very center of the storm — tells his story in "On the Brink: Inside the Race to Stop the Collapse of the Global Financial System."
The Securities and Exchange Commission said the action was its first ever against a state, and only its second against any government over the handling of a public pension fund.
Big U.S. banks should be able to meet tighter global capital requirements without having to raise substantial amounts of new equity, according to calculations by Barclays Capital. The FT reports.
New international regulations on how much capital banks must hold will initially make borrowing more expensive and dampen economic growth. The New York Times reports.
A federal judge on Tuesday criticized Barclays’ $298 million deal with the U.S. authorities to settle charges of facilitating payments that violated sanctions against countries including Cuba and Iran. The FT reports.
A fresh law, buried in the Wall Street reforms passed last month, will force many manufacturers to identify any "conflict minerals" that can be traced back to the Democratic Republic of the Congo or adjoining countries. The FT reports.
As high-yield bond trading activity has one of its best years ever, investors are looking for and finding solid investments in that arena, a Citigroup banker told CNBC Tuesday.