Improving global manufacturing data lifted Asian shares on Tuesday near levels before the collapse of Lehman Brothers in September, but the pace of gains slowed as investors pondered how much longer a heady three-month rally will last.
Improving global manufacturing data lifted Asian shares on Tuesday, bringing a regional index near to levels before the collapse of Lehman Brothers in September, but the pace of gains slowed as investors weighed how much longer a heady, three-month rally will last.
General Motors and Citigroup were kicked out of the closely watched Dow Jones industrial average on Monday, marking a historic fall from grace for two once venerable American corporations.
Improving global manufacturing data lifted Asian shares on Tuesday, bringing a regional index near to levels before the collapse of Lehman Brothers in September, but the pace of gains slowed as investors weighed how much longer a heady, three-month rally will last.
Bank of America Corp's corporate and investment banking unit has hired Ethan Harris as head of North America economics and David Bianco as head of U.S. equity strategy, two of the highest-profile appointments since the acquisition of Merrill Lynch & Co.
General Motors Corp and the U.S. government finalized plans for the battered company to reorganize, setting the stage for America's largest-ever industrial bankruptcy filing before markets open on Monday.
Bill Ackman, the biggest shareholder in bankrupt mall operator General Growth Properties Inc , said he could gain 13 times his investment in a company he called high quality after it is reorganized.
Lehman Brothers Holdings Inc's U.S. estate administrators will ask a federal judge on Tuesday to approve a framework for coordinating bankruptcy proceedings for the bank's subsidiaries worldwide, putting them at odds with its administrators in the UK, the Wall Street Journal said.
Regulators have questioned former Lehman Brothers Holdings executives over their marketing of auction-rate securities, the Wall Street Journal reported, citing people with knowledge of the matter.
U.S. economic data offered more evidence on Friday that the recession's worst phase may be over, with April consumer prices unchanged and industrial output declining at a slower pace than in March.
Lehman Brothers Holdings Inc , which sent global markets into a tailpsin after filing for bankruptcy in September 2008, is looking at spinning off its remaining assets, the Wall Street Journal said in an unsourced article.
A trio of top European banks showed bad debts are ratcheting up as economies worsen and unemployment rises, although investor optimism ahead of U.S. bank stress test results drove shares to year highs.
British bank Barclays Plc said first-quarter profit rose 15 percent as strong growth at its investment banking arm made up for a big jump in bad debts as economies worsen, sending its shares to a seven-month high.
Barclays Plc said its first quarter profit rose 15 percent from a year ago as strong growth at its investment bank arm made up for a big jump in bad debts.
Asian shares extended their rally Thursday as encouraging signs about the health of U.S. banks and the global economy bolstered riskier assets such as oil and hurt safe-havens such as the yen.
The father of the money market mutual fund -- investor Bruce Bent -- was charged with fraud by U.S. regulators on Tuesday over accusations he deceived investors into believing his flagship fund was safe before it broke the buck last year.
The father of the money market mutual fund -- investor Bruce Bent -- was charged with fraud by U.S. regulators on Tuesday over accusations he deceived investors into believing his flagship fund was safe before it broke the buck last year.
The father of money market funds, Reserve Primary Fund founder Bruce Bent Sr., was among those charged with fraud on Tuesday by securities regulators for allegedly failing to tell investors about the fund's vulnerability to Lehman Brothers' bankruptcy.
Former clients of Mark A. Walsh, the onetime head of global real estate at now bankrupt Wall St investment bank Lehman Brothers, praised the banker in an article from the New York Times today.
U.S. consumers felt much more upbeat about the economy in April, a month when the nation's manufacturing sector also appeared to be crawling out of a deep recessionary hole, reports showed on Friday.
Oil prices rose to a three-week high on Friday, drawing support from improved U.S. consumer confidence and further evidence of record levels of compliance by OPEC with its agreed output cuts.
Sumitomo Mitsui Financial Group said it would buy Citigroup's Japanese brokerage and key investment banking businesses for at least $5.6 billion in a deal that will reshape Tokyo's finance sector and create a banking powerhouse.
