The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
A Milan court has ordered Banca Monte dei Paschi di Siena, Nomura and Deutsche Bank to stand trial for a string of alleged financial crimes, legal sources said on Saturday.
It also indicted 13 former and current managers from the three banks over the case, with prosecutors alleging they used complex derivatives trades to conceal loses at Monte dei Paschi, Italy's third largest lender, the sources said, adding that the trial will start on Dec. 15.
All those indicted have previously denied any wrongdoing.
The alleged crimes relate to the 2008-2012 period and include market manipulation and obstructing supervisory activity as well as false accounting, the sources said.
The allegations centre on two derivatives transactions, known as Santorini and Alexandria, which Monte Paschi's former management arranged with Deutsche Bank and Nomura to conceal losses, prosecutors have said.
Since then, Monte dei Paschi has been bailed out by the Italian government and has had to raise billions of euros from investors to stay afloat. The bank is now seeking a further 5 billion euros in capital as part of its latest rescue plan.
Under Italian law, a company can be held responsible if it is deemed that it failed to prevent, or attempted to prevent, a crime by an employee that benefited the company.
Amongst those being sent to trial are Monte Paschi's ex-chairman Giuseppe Mussari and its ex-general manager Antonio Vigni, as well as six former Deutsche Bank staff and two Nomura employees.
The case also involves a hybrid financial instrument which Monte dei Paschi used to partly fund its disastrous 2007 acquisition of rival bank Antonveneta, when it paid some 9 billion euros for the lender, helping to sink its accounts.