Energy, steel, coal and metal stocks rallied. Bulls were saying the commodity trade was back on, that demand destruction was yesterday's story. That is highly unlikely.
Lack of enforcement of key short-selling rules is going to bring back the pain we worked so hard to escape.
The Dow fell by triple digits on Tuesday as worries about further losses stemming from the mortgage crisis moved back into the spotlight.
Some big Wall Street banks may have been premature in believing New York State's investigation into auction-rate securities was over, people inside New York Attorney General Andrew Cuomo's office told CNBC.
Fast Money now – the plays you need while the market is still open
As Wall Street’s troubles continue, big investment banks are moving some key employees to increasingly influential hubs of finance in Asia, the Middle East, Europe and Latin America, the New York Times reports.
Some Wall Street companies might not resume paying New York City taxes for "a number of years'' because they can offset future profits with the losses they are currently suffering, Mayor Michael Bloomberg said on Monday.
Smaller financial firms have found a way to capitalize on their larger rivals' woes, moving to snap up some of the top talent cast adrift by sweeping layoffs at leading investment banks.
From mid-July to late July short interest dropped 5.34 percent, on average, in the shares of 17 major financial firms affected by the U.S. Securities and Exchange Commission emergency short-selling rule, according to the latest data from the exchange.
The Dow made gains on Monday with investors believing the current down trend in oil improves prospects for consumer and business spending.
New York Attorney General Andrew Cuomo's office, which is investigating Wall Street's sales practices in auction-rate securities, told JPMorgan Chase, Morgan Stanley and Wachovia on Monday that it wants to begin settlement talks immediately.
Top global logistics firm United Parcel Service, playing down talk it will pay more than $15 billion for all or part of TNT, said buying the smaller rival would devalue its own shares and called such takeover speculation a "rumor."
Citigroup agreed to buy back more than $7 billion of illiquid auction-rate securities and pay a $100 million civil fine to settle charges it fraudulently misled investors about the debt's risk.
Massachusetts authorities said on Thursday that Morgan Stanley has agreed to pay $1.5 million to reimburse investments in auction-rate securities by the cities of New Bedford and Hopkinton.
The Treasury Department said Tuesday it had hired investment firm Morgan Stanley to help the government assess the risks facing mortgage giants Fannie Mae and Freddie Mac.
Bankers and traders are bracing for sharply reduced bonuses amid one of the worst downturns ever—and they will be the lucky ones.
Investment bank Morgan Stanley says it is done cutting jobs and going back on offense, spending some of the $1 billion it saved slashing 4,800 jobs in the past year to recruit top bankers and traders.
Lone Star Funds agreed to pay $6.2 billion for most of the toxic, mortgage-linked investments held by Merrill Lynch.
U.S. securities regulators have extended through Aug. 12 an emergency rule aimed at curbing abusive short selling in the stocks of 19 major financial firms, including mortgage giants Freddie Mac and Fannie Mae.
Vivi Nevo is said to be the largest individual shareholder of Time Warner, was once the largest private investor in Goldman Sachs, is engaged to China’s most famous actress, vacations on Rupert Murdoch’s sailboat, is the godfather of Lachlan Murdoch’s son, counts Lenny Kravitz as a good friend and attended Madonna’s wedding in 2000.And many people, including even some of his close friends, have no idea what his background is or how exactly he made his fortune.