Major U.S. stock indices plunged today, taking the stock market into negative territory for February.
The chairman of the U.S. Senate Banking Committee, Christopher Dodd, blasted banks and Wall Street on Thursday for a refusal to work with Congress on financial reforms that borders on insulting to the American people.
A prominent Goldman Sachs Group executive expressed support on Thursday for some of the many financial regulation reforms being considered by Congress since taxpayers bailed out his firm and others like it.
Bank of America has embarked on a major hiring spree across Asia, aiming to expand in the fast growing region and revive the investment banking franchise that Merrill Lynch built before the financial crisis.
After a two day rally, the stock market is struggling on Wednesday with a slight decline in morning trading as mixed economic data is released.
The stock market continued its rally to close for a gain on Tuesday despite a fall in banking sector shares ahead of testimony from White House advisor Paul Volcker.
Stocks gained on Tuesday, helped by encouraging earnings, and as a rise in pending home sales helped calm fears of weakness in the housing market.
Goldman Sachs Group Inc is likely to slash its chief executive's bonus from the record $67.9 million he got two years ago, but Lloyd Blankfein's pay package could still fuel criticism the bank has been tone deaf in its approach to the financial crisis.
Global stock markets shook off declines early in the Asian session as commodities firms lead the rally.
American Express Co raised Chief Executive Kenneth Chenault's base pay by 60 percent to $2 million for 2010, in the latest instance of Wall Street firms boosting regular executive compensation while cutting bonuses.
BlackRock Inc said on Friday that Kendrick Wilson, a former Treasury Department adviser and veteran investment banker, will join the world's biggest asset manager as vice chairman and member of the chairman's office.
Tech stocks dropped in morning trading on Thursday as financials struggled to keep gains, S&P 500 edges down.
Chinese real estate company IFM Investments Ltd priced its initial public offering at the bottom of a lowered range, an underwriter said on Wednesday.
Bank of America has dropped plans to exit Merrill Lynch's Asia property funds business and will instead help it raise new money, cashing in on a recovery in the real estate sector, sources said.
The Dow Jones Industrial Average is down 0.35 percent, the S&P 500 Index has fallen 0.27 percent, and the Nasdaq Composite Index slipped by 0.17 percent at 10:54 a.m. in New York as investors wait for answers from Washington.
Goldman Sachs denied a media report it had been mooting the sale of equity in National Bank of Greece to Chinese banks as debt-ridden Greece struggles to fix its public finances.
Treasury Secretary Timothy Geithner denied any role in disclosures about American International Group's payments to banks and defended his decisions as New York Federal Reserve chief to pay full price to retire AIG credit default swaps.
The New York Federal Reserve Bank actively supported insurer American International Group's regulatory requests to keep its bank counterparties confidential but did not pressure the bailed-out firm for secrecy, the bank's top lawyer said on Tuesday.
The financial sector led a stock market drop in late trading today, after expectations that new government policies could force major banks to divest themselves of some of their operations.
The New York Federal Reserve Bank actively supported American International Group's regulatory requests for confidentiality on its bank counterparties but did not pressure the insurer for secrecy, according to the top lawyer of the New York Fed.
Financial and basic materials stocks closed lower on Tuesday, sending the S&P 500 Index, Nasdaq Composite Index, and Dow Jones Industrial Average into negative territory after posting gains earlier in the day.
Former U.S. Treasury Secretary Henry Paulson and ex-New York Fed Chairman Stephen Friedman will testify at a congressional hearing on bailed-out insurer AIG's payments to banks, a committee aide said on Tuesday.