US Wholesale Inventories Rise In May, Sales Fall By The Most In 3 Years
U.S. wholesalers increased their stockpiles at a slower pace in May as sales fell by the most in three years.
To Shame Banks, Flash Mobs Reward Depositors Who Close Accounts With Gifts, Drama
In long forgotten days, before most bank profits came from risky speculation and taxpayer bailouts and those institutions still lived or died by their ability to attract depositors, customers who opened new checking accounts were often given toasters as tokens of appreciation.
Top After-Market Nasdaq Movers (Obagi, Xyratex, OraSure, MannKind, Smith & Wesson, VOXX, Prospect Capital, Golar, Arena, Jamba)
The top after-market Nasdaq gainers Tuesday were Obagi Medical Products Inc, Xyratex Ltd, OraSure Technologies Inc, MannKind Corporation and Smith & Wesson Holding Corporation.The top after-market Nasdaq losers were VOXX International Corporation, Prospect Capital Corporation, Golar LNG Partners LP, Arena Pharmaceuticals Inc and Jamba Inc.
Rotten To The Core? A Quarter Of Bankers Say Illegal Activity Vital For Success
In a survey of 500 financial service workers in the UK and U.S., a quarter said they would need to engage in illegal conduct to be successful, while 16 percent said they would commit a crime - insider trading - if they could get away with it.
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Winners And Losers: Barclays Gets Blasted; Einhorn Earns Millions
IBTimes reviews winners and losers in the world of business and economics for the week of July 1.
Diamond Denies Gov't Told Barclays To Manipulate Libor Rate
Former Barclays boss Bob Diamond testified Wednesday before the British Parliament's Treasury Select Committee denying that anyone in the British government instructed the bank to manipulate the rate that determines the cost of trillions of dollars worth of loans and derivatives traded worldwide every day.
After Barclays' Diamond Falls, Could Chase's Dimon Be Next?
CEO Robert Diamond's ouster from Barclays (NYSE: BCS) raises questions about whether Wall Street's doyen, Jame Dimon, CEO of JPMorgan Chase (NYSE: JPM), might be next to go, especially as his bank's problems mount.
Ex- Barclays CEO Blames Bank of England for Libor Debacle
The British Parliament, might not be the place one would expect to see fireworks lit on July 4. But that's what's likely to happen Wednesday, when the former CEO of Barclays plc (NYSE:BCS), who resigned Tuesday, is expected to tell the House of Commons its fraud was partly done at the bequest of the Bank of England.
Barclays Libor Scandal Claims Third Victim As Bank May Demand Ex-CEO Pay Back £20 Million Bonus
The resignation came as Barclays was preparing to demand American-born Diamond, 60, hand back almost £20 million ($31 million) in bonuses
Midwest Heat Wave Damages Crop Yields, Presses Food Prices
As the Midwest teeters from the impact of one of the most damaging heat waves in U.S. history, declining yields on crops could hurt the public by raising food and commodity prices to staggering proportions, according to commodities trading data.
Barclays Boss Bob Diamond Quits Amid Libor Scandal
Initial public and governmental response garnered unified relief that someone has taken responsibility for the spate of banking scandals and damaged relations between its customers.
Pre-Market Movers (Infosys, Seadrill, Microsoft, Kraft Foods, Silvercorp, Barclays, Duke Energy)
Duke Energy, Infosys, Seadrill Ltd, Barclays, Microsoft, Royal Bank of Scotland, Silvercorp Metals and Kraft Foods are among the companies whose shares are moving in pre-market trading Tuesday.
US Unemployment Rate Likely To Hold At 8.2% In June, With Little Job Growth Improvement
The U.S. labor market has lost a step since spring and the trend of lackluster job growth will likely continue into June.
Why Exactly Are Heads Rolling At Barclays? Libor Scandal Explained
Following the revelation last week that British banking giant Barclays was engaging in massive fraud meant to distort the Libor, the interest rate underpinning hundreds of trillions of dollars in credit transactions, politicians and regulators the world over are taking a sober look at the system. What they find may prove to be shocking.
Barclays CEO Bob Diamond Resigns
Barclays chief executive officer Bob Diamond Tuesday quit his post over the London Inter Bank Offered Rate (LIBOR) fixing scandal, in which the bank was fined £290 million ($450m) by the U.S. and UK regulators last week.
Asian Shares Inch Up As Weak Global Factory Data Boost Fed Hopes
Asian shares inched up on Tuesday as manufacturing data around the world highlighted the drag on growth from the protracted euro zone debt crisis, raising expectations for the Federal Reserve to take further steps to underpin the fragile economy.
Crisis in Europe Finally Dragging America Down: Economists
The whirlpool created by the European financial crisis is finally dragging American down. That?s the conclusion of some economists, after disappointing manufacturing activity data showed a slight contraction in June.
?The Classic British Banker?: The Rise and Fall of Barclays Libor Scandal Chairman Marcus Agius
So just who is Mr Agius, and how did he get to the very top of Britain's banking tree?
Pre-Market Movers (Brightpoint, Lincare, Amylin Pharma, Barclays, Nokia, Verizon, Tata Motors, Dollar Tree)
Brightpoint, Lincare Holdings, Amylin Pharmaceuticals, Barclays, Nokia Corp, Verizon Communications, Tata Motors and Dollar Tree are among the companies whose shares are moving in pre-market trading Monday.
Barclays Bank Chairman Marcus Agius Confirms Resignation, Bank To Make Audit Reports Public
Barclays Bank chairman Marcus Agius Tuesday confirmed that he had resigned over the Libor (London Inter Bank Offered Rate) inter-bank lending rate-fixing scandal.
Barclays Chairman Reported Quitting In Interest Rate Scandal
Barclays Chairman Marcus Agius is expected to resign on Monday over the Libor interest-rate scandal, the BBC and the Guardian said on Sunday.
Bank Of England Cracks Down On Cheating Banks
The Bank of England (BoE) is cracking down on large financial institutions to prevent them from cheating businesses and consumers worldwide -- a practice that has put a $360 trillion global financial market at serious risk for several years.
BOE Governor King Attacks 'Deceitful' Libor Scandal Investment Banks
The evolving scandal, according to King, illustrated the need to separate the retail from invest banking.
British, US Banks Fall Hard On News of Barclays Fraud
Investors in Barclays PLC (NYSE: BCS) (London: BARC) lost over £4 billion Thursday as the British bank lost one-sixth of its market capitalization a day after international regulators announced the bank would have to pay hundreds of millions as a fine for an audacious price-fixing fraud some of its traders were found to have engaged in.
Pre-Market Movers (LiveDea, Orexigen Therapeutics, Barclays, Deutsche Bank, JPMorgan Chase, Lincare, Synta Pharma)
LiveDeal, Orexigen Therapeutics, Lincare Holdings, Synta Pharmaceuticals, Barclays, JPMorgan Chase and Deutsche Bank are among the companies whose shares are moving in pre-market trading Thursday.
The Fed Is Yielding To The Government, Killing Private Businesses, Analysts Warn
The Federal Reserve is charting a course for more stringent capital reserve requirements for the largest banking institutions in the U.S., in line with new international rules representing the Basel III accord.
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