British bank Barclays reported a 33 percent drop in first-half profits as it took a 2 billion pound writedown on the value of risky assets, but the profit drop was not as steep as expected.
Despite their record breaking profits, Exxon Mobil dragged the Dow lower Thursday after its earnings fell short of Wall Street's expectations. Also comments from Alan Greenspan made on CNBC added to the downward momentum.
One year into the credit crisis that led to the near-collapse of Bear Stearns, some big U.S. investment banks are down, but probably won't get taken out right now.
Financial industry executives are mustering on Capitol Hill to head off a Congressional effort to rewrite the rules for the nation’s energy markets, saying it could unsettle already nervous markets and push more energy trading abroad, beyond the reach of domestic regulators.
Barclays' shareholders took up just 19 percent of new shares in the British bank's recently announced fundraising, meaning the bulk of the money will be provided by mostly new "anchor" investors led by Qatar.
Better keep your wits about you, it looks like we’re entering bear territory. What's the "Word on the Street?"
British bank Barclays raised $8.9 billion from investors including Qatar and Japan's Sumitomo Mitsui and aims to use half the cash to rebuild capital and half to pursue growth.
AmEx just out with comments, saying "We have seen credit indicators deteriorate beyond our expectations" and it was "too early to assess the impact of deteriorating credit indicators." Down about 1 percent.
Japan's Sumitomo Mitsui Financial Group could take a stake of up to 4% in British bank Barclays, two senior banking sources said on Monday.
Japan's Sumitomo Mitsui Financial Group may invest about $926 million in British bank Barclays, people familiar with the matter said on Friday, as subprime-hit Western lenders increasingly turn to Asia for funding.
U.S. 30-year mortgage rates continued their ascent this week, reaching their highest level since September 2007, according to a survey released on Thursday by home funding company Freddie Mac.
Two former Bear Stearns managers have surrendered to face criminal charges linked to the collapse of a hedge fund that bet heavily into subprime mortgages before the market collapsed, federal authorities said.
As discontent grows inside Lehman Brothers over the firm's financial problems, pressure is building on Chief Executive Officer Richard Fuld to sell the securities firm to a bigger player, CNBC has learned.
Following are the day’s biggest winners and losers. Find out why shares of Hess and GameStop popped while Verizon and Coca-Cola dropped.
Barclays plans to raise billions of pounds by selling stakes to outside investors and offering shares to existing shareholders to boost its balance sheet, sending its shares soaring on Monday.
S&P futures dropped about 5 points as the New York Empire State Index was notably weaker than expected and has been down 4 of the last 5 months, then dropped again on oil. The most important issues this week:
Some may point to how RBS has stronger risk management than rivals, but the problem for many shareholders is the lack of oversight over CEO Fred Goodwin.
Futures dropped a bit as core PPI for April was a stronger than expected. Elsewhere: 1) Home Depot beat estimates, reporting earnings of $0.41 (14 percent below last year's $0.48), vs. consensus estimates of $0.37. Despite the apparent beat, the stock is down 3 percent:
British bank Barclays said profits fell by an undisclosed amount in the first quarter and refused to rule out a rights issue after a 1 billion pound ($1.95 billion) writedown on assets tarnished by the credit crunch.
Profits at Barclays, Britain's third biggest bank, were well below those of a year earlier in the first quarter after its investment bank and fund management arms were hit by tough financial market conditions.