Citigroup Inc. has all but ended talks to purchase assets or a stake in stricken hedge fund manager Amaranth Advisors LLC, a person familiar with the situation said on Friday, making the chances more remote that the fund will survive. Citi held talks this week that could have kept afloat the hedge fund, which lost more than $6 billion in investments recently.
Amaranth Advisors LLC, the hedge fund manager which lost billions of dollars in energy trades, will suspend redemptions......
Credit Suisse has told its investment bankers to reduce staff parties, client entertainment and even colour photocopying in a bid to trim costs
Coles Myer's bold five year strategy that includes job cuts, brand integration, supply chain upgrades and hypermarkets may have scared off any potential predators, retail analysts said.
New Star Asset Management said on Friday its assets under management rose 7 percent in the six months to the end of June
Morgan Stanley on Wednesday said quarterly earnings rose on strong trading and merger activity, as the largest U.S. investment bank continued its turnaround from a tumultuous 2005.
The world's asset managers and pension funds do not see eye to eye on the type of investment products that are most needed to deal with the rising cost of a greying population
South Africa's largest insurer, Old Mutual, met forecasts with a 36 percent increase in first half profit
As China evolves from a nation of savers to one of borrowers and investors, banks are salivating over the prospects, but risks loom in a market where consumer credit is a novelty and competition is intensifying.
UK stocks closed at their highest level in nearly two weeks on Monday as numbers from Vodafone boosted investor confidence at the start of a busy earnings week and concerns over the conflict in Lebanon eased slightly.
American Express, the travel services and credit card company, reported second quarter earnings that surpassed Wall Street expectations citing strong credit card spending.
Profits at large U.S. banks are up, but not as much as they could be. This week and next, banks are reporting their earnings as Wall Street investors cautiously note the factors that could mean lower earnings.
Shares of Citigroup, the world's biggest financial services company by market value, dropped on Monday amid disappointing second quarter earnings which fell slightly below analysts' expectations.
U.S. stocks slid on Friday after another warning from a Federal Reserve official about inflation, giving investors more reason to think the Fed will keep raising interest rates.
China Construction Bank, one of the country's largest state banks, denied on Monday a newspaper report it is in early talks with Bear Stearns that could lead to its taking a minority stake in the Wall Street securities firm.
The recent forays by global banking powers Citigroup Inc. and HSBC Holdings Plc into U.S. Internet banking don't alarm the chief executive of ING Direct, which has been in that market for five years now.
