U.S. regulators should investigate whether laws were violated when the New York Federal Reserve Bank under Timothy Geithner urged insurer AIG to limit discussions about payments to banks, a Republican lawmaker said on Tuesday.
The White House and New York's top prosecutor attacked excessive Wall Street bonuses, as the nation's biggest banks prepare to hand out awards critics say were made possible by taxpayer bailouts.
New York's attorney general asked eight major U.S. banks to turn over data on planned bonuses for 2009, amid a growing public outcry over payouts in light of the industry's role in the near-collapse of the financial system and recession.
Controversial Wall Street bonuses will be in focus on Monday as New York Attorney General Andrew Cuomo plans a midday announcement on the payouts.
Chinese property developer Shanghai Forte Land Co Ltd is in talks to buy a high-end residential property in Shanghai from Goldman Sachs in a deal worth more than $200 million, two people familiar with the situation said.
Goldman Sachs Group Inc may expand a program that would require executives to give a part of their pay to charity, as it looks to cool public anger over compensation, the New York Times reported on Sunday.
Bank of America Corp will likely pay some employees at its investment bank at levels significantly above last year, although there will be no record payouts, a spokesman for the bank said on Friday.
The Dow and the S&P 500 fell on Friday after an unexpectedly weak employment report cast doubts on prospects for a quick rebound in the labor market.
Stock index futures were little changed on Friday ahead of a key monthly employment report expected to show the economy stopped shedding jobs last month for the first time in two years.
The New York Federal Reserve Bank under Timothy Geithner urged insurer AIG in late 2008 to limit disclosures about its payments to banks after getting a $180 billion government bailout, emails released on Thursday showed.
Goldman Sachs Group Inc was sued on Thursday by an Illinois pension fund seeking to recover billions of dollars of bonuses and other compensation being awarded for 2009, saying the payouts harm shareholders.
Fourth-quarter earnings for the big U.S. investment banks could disappoint investors if falling debt trading volumes hurt what had been the banks' key profit engines in the first three quarters of 2009.
Royal Bank of Scotland (RBS.L) and U.S. group Sempra Energy (SRE.N) have received a trio of bids worth about $4 billion for their commodities joint venture, a person familiar with the matter said on Thursday.
Property agent Century 21 China Real Estate plans to raise about $150 million via its initial public offering of shares at the New York Stock Exchange this month, sources familiar with the deal told Reuters on Wednesday.
Sumitomo Mitsui Financial Group (8316.T) said it would raise up to $9.7 billion in a share sale to meet stricter global banking regulations and expand overseas.
AgBank, China's No. 3 lender by assets, is likely to make its multibillion dollar IPO only in the second half of 2010 or even later, as it tries to sort out its bad loans and waits out an expected round of capital raising by other Chinese lenders, sources said on Tuesday.
Stock index futures pointed to a flat open on Tuesday as investors awaited key economic data for new signs of recovery one day after the Dow and the S&P rallied to their highest closes in more than 15 months.
Stock index futures were flat on Tuesday as investors awaited key economic data for fresh signs of an economic recovery a day after the Dow and the S&P rallied to their highest closes in more than 15 months.
Stock index futures were flat on Tuesday as investors awaited key economic data for fresh signs of an economic recovery a day after the Dow and the S&P rallied to their highest closes in more than 15 months.
Sumitomo Mitsui Financial Group , Japan's third-largest bank by assets, plans to raise up to $8.7 billion by issuing new shares to meet stricter capital requirements and for potential acquisitions in Asia, people with knowledge of the matter said.
Wells Fargo & Co said on Thursday it gave Chief Executive John Stumpf and three other top executives stock payouts worth a total of about $25 million, but it said none of these executives will receive a cash bonus for 2009.
Wall Street's efforts to quell public outrage over its pay practices could in fact be setting up its top executives, bankers, and traders for even bigger payouts down the road, which in turn could reignite the outcry.
