Citigroup Inc and Bank of America Corp shares rallied in premarket trading ahead of the release of stress test results that will force them and other top banks to raise tens of billions of dollars in capital.
Regulators are ordering some of the largest U.S. banks to find tens of billions of dollars of capital to cushion themselves in the event of a deep economic downturn.
More than twenty of the largest subprime mortgage lenders relied on financing from U.S. banks that are now relying on billions of dollars in rescue funds, a report release on Wednesday concludes.
U.S. officials could lay out as soon as Wednesday guidelines for how banks can repay taxpayer bailout funds, sources familiar with administration thinking said on Tuesday.
Federal Reserve Chairman Ben Bernanke, seeking to soothe markets worried about the eagerly awaited government stress tests of 19 big banks, on Tuesday downplayed the possibility of new taxpayer bailouts.
Citigroup may put more employees on commission or offer them larger base salaries as it tries to retain key staffers without running afoul of laws limiting executive pay at banks that receive government funds.
The U.S. Treasury raised its offer by $250 million in debt restructuring talks with Chrysler LLC lenders on Wednesday as part of a final push to win over lenders holding out for better terms and avoid bankruptcy, two people person briefed on the closed-door talks said.
Morgan Stanley is not likely to pursue a retail bank acquisition while it scrambles to complete its joint venture with Citigroup Inc brokerage unit Smith Barney, Morgan Chief Executive John Mack said.
San Miguel Corp is in talks to buy a stake worth about $500 million in Adaro Energy, Indonesia's largest coal producer by market value, the Philippine conglomerate's president said on Wednesday.
The U.S. Treasury has reached an agreement in principle with Chrysler LLC's first-lien lenders that may help the troubled automaker avoid bankruptcy, two people briefed on the discussions said on Tuesday.
Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 1.3-1.7 percent, pointing to a sharply lower start on Wall Street.
Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 1.3-1.7 percent, pointing to a sharply lower start on Wall Street.
By being long of GS and short an equal amount of MS, you eliminate the broad market and focus on the difference between the firms. Following this strategy in my weekly newsletter EPIC Insights, I recommend a long position in GS and a short position in MS as this week’s fundamental trade.
The top 19 U.S. banks need to hold a substantial amount of capital above regulatory requirements to weather a potential worsening of the economic recession, the U.S. Federal Reserve said on Friday.
U.S. corporate earnings are shaping up to be better than expected in the first quarter, compared with the previous quarter as bank results stabilize. But profitability remains well below pre-recession levels.
Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) is expected to post a large first-quarter net loss amid the global economic downturn that has pressured results in the United States, Western Europe and other developed economies.
American Express Co , reported better-than-expected earnings on Thursday as it slashed costs and said it intended to repay government bailout funds as soon as regulators allow, sending its shares up 6 percent.
American Express Co , reported better-than-expected earnings on Thursday as it slashed costs, and said it intended to repay government bailout funds as soon as regulators allow, sending its shares up 6 percent.
Chrysler LLC's first-lien lenders are preparing another counter-offer to the U.S. Treasury that involves reducing the automaker's debt, sources familiar with the matter said on Thursday.
The Treasury has raised its offer to Chrysler lenders with just over a week remaining for the embattled automaker to reach deals to cut its debt, labor costs and reach an alliance with Italy's Fiat SpA, sources said on Wednesday.
Morgan Stanley posted a wider-than-expected quarterly loss on Wednesday and slashed its dividend as real estate investment losses and a debt-related charge wiped out strong trading and banking fees.
Goldman Sachs upgraded the U.S. auto sector to
