Federal Reserve Chairman Ben Bernanke this week will offer assurance that help is on the way for the troubled U.S. economy and may offer clues on additional steps that could be taken to halt an ever-steepening dive.
Goldman Sachs Group Inc said several partners must cover margin calls triggered by the depressed value of Goldman stock and many of the firm's hedge funds, but the bank denied it is lending money to its executives.
Billionaire Warren Buffett's Berkshire Hathaway Inc reduced stakes in health-care company Johnson & Johnson and consumer products company Procter & Gamble Co.
The lawmakers of House Financial Service Committee on Wednesday are holding a hearing with chief executive officers of eight banks that received injections of capital from the government's Troubled Asset Relief Program.
There is talk among top U.S. officials about a partial solution to the current financial crisis which involves creating a so-called 'bad bank,' but what exactly is the concept behind it?
New Chicago Booth/Kellogg School Financial Trust Index Measures National Confidence in Financial System
New York attorney general Andrew Cuomo may demand the return of the $4 billion paid in bonuses by Merrill Lynch & Co. to its executives in December, Bloomberg reported quoting an anonymous source.
Prominent executives have stepped away from attendance at the World Economic Forum 2009 in Davos, Switzerland which kicks off Wednesday, citing illness, the need to deal with pressing matters, or just avoiding the spotlight under tough economic circumstances.
The program will feature such activities as co-teaching and faculty mentoring; curriculum development, including case studies and courses in entrepreneurship, finance and nonprofit management; PhD mentoring and research-methodology seminars; and student consulting projects.
Satyam Computer Services Ltd. will hire an adviser bank to review options to rescue its business as investigations continue regarding alleged fraud.
Oil and energy prices may rebound aggressively in the second half of 2009, said an analyst at Goldman Sachs Group Inc.
Bank of America on Friday said it has secured a $20 billion government investment to assist in acquiring brokerage Merrill Lynch. The government will also cover a majority of losses linked to Merrill's assets.
Citigroup announced that Robert Rubin has retired as Senior Counselor effective Friday and will finish out his term as a director on the company's board.
American International Group Inc will accept up to $5 billion in losses from sales of investments from a dozen insurance units after they suffered $13 billion in writedowns linked to the collapsed subprime mortgage market.
U.S. stocks tumbled sharply on Thursday with the Dow dropping to its worst level since September 2006 on a series of downgrades from Goldman Sachs while shares of Citigroup Inc. and General Motors hit its lowest levels in more than nine years.
U.S. stocks on Tuesday fell for the first time in four days after Goldman Sachs predicted anks will have to raise $65 billion in new capital to cover losses in the face of economic data that further highlights soaring inflation amidst a troubled housing market.
Financial sector stocks fell on Friday, despite gains from the leading U.S. insurer, American International Group.
General Electric Co. is considering selling or divesting itself of its appliances business, the Wall Street Journal said on its website late Wednesday.
Valero Energy Corp., the biggest U.S. refiner, fell on Friday after Goldman Sachs analysts took the company of their conviction buy list.
Oil could potentially soar up to $200 within the next two years as part of a super-spike driven by slowing growth in oil supplies, investment bank Goldman Sachs said in a research note on Tuesday.
Merrill Lynch & Co. will give its new global sales and trading executive Thomas Montag a 2008 bonus of $39.4 million, according to a regulatory filing.
For many bankers and traders, the days of company perks such as sleek limos, cushy business class seats, and fat steaks are gone.
