Bank of America Merril Lynch's (NYSE:BAC) move to fire one-fifth of the managing directors in its Asia operations, while significant, is only the latest sign foreign banks are jumping ship on investment banking opportunities within that market.
As the government nears a deal with top banks to resolve mortgage abuses, the Justice Department has begun reaching out to other banks to gauge their interest in joining the wide-ranging settlement, according to a person familiar with the matter.
As the U.S. government nears a deal with top banks to resolve mortgage abuses, the Justice Department has begun reaching out to other banks to gauge their interest in joining the wide-ranging settlement, according to a person familiar with the matter.
Gold was set for its strongest two-day rally in 2-1/2 months on Wednesday after an agreement in principle among European leaders to ban Iranian oil imports boosted the crude price and catapulted bullion to two-week highs.
Japan's leading share average rose to a three-week closing high on Wednesday after better-than-expected economic data from the United States and China, although strategists said the rally could stall if the euro holds below 100 yen.
Out with the old year, in with the new and for investors uncertainty is likely to be the only certainty once more.
U.S. authorities hunting in Swiss banks for suspected tax cheats have a new weapon in their arsenal: an arcane but aggressive legal maneuver more commonly used against drug smugglers, money launderers and Imelda Marcos, widow of the Philippine dictator.
Europe faces another year of dismal economic performance in 2012 that will weigh on global growth, but emerging markets and the United States should at least keep the world economy moving in the right direction.
European stocks edged up in thin pre-holiday trade on Tuesday at mid-day, boosted by a successful Spanish debt auction and a sharp rise in German business sentiment, though strategists said the continuing euro zone debt crisis would limit any gains.
U.S. officials are offering 11 Swiss banks -- Credit Suisse among them -- a deal that would allow them to avoid criminal prosecution in exchange for revealing full details of their U.S. offshore business to Washington, a paper reported on Sunday.
An improvement in the U.S. employment picture last week and a rise in regional factory activity suggested an emerging divide between resiliency in the U.S. economy and faltering growth in Europe and Asia.
A dash for cash has overwhelmed gold's traditional status as a haven from risk, putting the metal on course for its first quarterly fall since end-September 2008, when the global credit crunch was at its worst.
Stock index futures pointed to a higher open on Wall Street Thursday, with futures for the S&P 500 up 0.3 percent, Dow Jones futures up 0.5 percent and Nasdaq 100 futures up 0.5 percent at 0906 GMT.
Asian shares fell into bear market territory for the year and commodities and the euro nursed stinging losses Thursday, after fears that Europe's debt crisis is still worsening prompted investors to dump riskier assets and huddle in the safety of the dollar and Treasuries.
The bottom dropped out of gold prices Friday as technical supports collapsed, hedge fund managers turned holdings into cash and a surging dollar killed any vestige of physical demand.
Thomas Cook will close 200 underperforming shops and 500 hotels and is lining up further disposals, as it battles to cut debt and restore confidence among investors and customers after a bailout by its banks.
Worries that India's evolution into an economic superpower may be overhyped and signs the government may lack the will to further dismantle a protectionist legacy drove India-themed funds to the bottom of performance league tables in November.
Gold prices tumbled more than two percent Thursday after the European Central Bank doused hopes that it would accelerate purchases of debt-choked Eurozone nations.
Gold prices, like global stocks and major currencies, hardly moved Thursday as investors waited to see if Europe would manage to stanch its debt crisis and avoid a recession, or worse.
The top pre-market NASDAQ stock market gainers are: Clearwire, First Solar, Marvell Technology Group, Randgold Resources and Yahoo. The top pre-market NASDAQ sock market losers are: Vera Bradley, First Niagara Financial Group, Wynn Resorts, EZchip Semiconductor and Vodafone Group.
Palladium prices extended a two-month rally Wednesday as rising U.S. car and truck sales signaled increased demand for the white metal.
The top after-market NASDAQ Stock Market gainers are: Mitcham Industries, China Medical Technologies, ModusLink Global Solutions, Clearwire, and Carrizo Oil & Gas. The top after-market NASDAQ Stock Market losers are: Globe Specialty Metals, First Niagara Financial Group, Photronics, Vera Bradley, and Saia.
