U.S. regulators have reached the closing phase of stress tests to gauge the health of the nation's top banks, and are bracing for a battle to get those firms to accept tough appraisals.
Asia's banks are likely to step in with loans and boost their presence across the region as the credit crisis has forced big Western rivals to retreat.
Patrick Mortimer, head of Morgan Stanley's (MS.N: Quote, Profile, Research, Stock Buzz) U.S. prime brokerage business, resigned this week amid declining assets and profits of hedge fund clients that make up the division's client base, the Wall Street Journal said, citing people familiar with the matter.
U.S. activist investors are seeking to oust board members at beleaguered banks whom they blame for helping cause the companies' financial woes, setting the stage for drama at upcoming annual shareholder meetings.
U.S. stock index futures pointed to a sharply lower open on Monday as the Obama administration threatened bankruptcy for two major U.S. automakers and Spain had to rescue regional savings bank CCM.
The U.S. banking system showed some signs of thawing this week, but it may prove to be a false spring.
Wall Street capped a strong week on a down note on Friday as investors booked profits in the wake of the recent upward surge and bank shares dropped after bank executives indicated March had been a tougher month for the industry than the previous two.
U.S. stocks slid on Friday as investors booked profits in the wake of a recent surge, and bank shares dropped after several bank executives indicated March had been a tougher month than the previous two.
President Barack Obama will quiz top U.S. bankers on Friday about developments in the economy and their businesses as his administration seeks broader authority to regulate the financial system.
Wall Street was set for a lower open on Friday as investors assessed the strength of a recent surge that has March on track to see the biggest monthly percentage gain since 1974.
The top 50 U.S.-based bank holding companies, which represent three fourths of all assets at such companies reported a aggregate loss of $67 billion in 2008, a Fed official testified on Wednesday.
U.S. President Barack Obama will meet with about a dozen top bank chief executives on Friday, including executives from JPMorgan & Co, Goldman Sachs and Citigroup, two sources familiar with the matter said on Tuesday.
President Barack Obama will meet with about a dozen top bank chief executives on Friday, including executives from JPMorgan & Co, Goldman Sachs and Citigroup, a source familiar with the matter said on Tuesday.
Newell Rubbermaid Inc plans to slash its dividend in half for the second time in two months as it tries to maintain an investment-grade rating while taking steps to repay debt coming due later this year.
Goldman Sachs Group Inc hopes to pay back the $10 billion it took from the U.S. government's $700 billion Troubled Asset Relief Program within a month, The New York Times said on Tuesday, citing people involved in the process.
Wall Street was poised for a lower open on Tuesday the day after markets surged, as investors assessed a raft of recent moves to shore up the struggling economy and soft oil prices weighed on energy shares.
A federal judge has transferred Citigroup Inc's $60 billion lawsuit against Wells Fargo & Co over the acquisition of Wachovia Corp back to the New York state court where it began, citing a lack of jurisdiction.
Stock index futures pointed to a lower open on Tuesday the day after markets surged, as investors assessed a raft of recent moves to shore up the struggling economy, while lower oil prices weighed on energy shares.
Former Time Warner Inc chairman and chief Executive Richard Parsons will step down from the board by its next annual general meeting, according to a regulatory filing on Monday.
Stocks surged around 7 percent on Monday after the Obama administration detailed a plan to purge toxic assets from bank balance sheets, fueling optimism about a revival in bank lending and driving double-digit gains in financial shares.
Stocks surged around 7 percent on Monday after the Obama administration detailed a plan to purge toxic assets from bank balance sheets, fueling optimism about a revival in bank lending and driving double-digit gains in financial shares.
Stocks climbed on Monday after the Obama administration revealed details of a plan to purge toxic assets from bank balance sheets, fueling optimism about a revival in bank lending and lifting financial shares.
