Bank of America-Merrill Lynch, the second-largest U.S. bank by assets, is cutting around a fifth of its managing directors across its Asia investment banking division, sources said on Monday, in a bid to cut costs as the outlook sours in a once-booming region.
Bank of America-Merrill Lynch is cutting around a fifth of its managing directors across its Asia investment banking division, sources said Monday, in a bid to cut costs as the outlook sours in a once-booming region.
UBS will sacrifice its place in the top ten investment bank rankings as stricter capital rules force it to give up riskier fixed-income business, the Swiss bank's financial head said.
UBS will sacrifice its place in the top ten investment bank rankings as stricter capital rules force it to give up riskier fixed-income business, the Swiss bank's financial head said.
The fact is everyone in the financial services or wealth management business has thought about what they feel the markets will do next year. Following are the 10 market predictions for 2012 from Oliver Pursche, co-portfolio manager of GMG Defensive Beta Fund.
Moody's threat to downgrade Ontario's debt rating will likely spur the Canadian province to take bolder moves to rein in its C$16 billion ($15.4 billion) deficit.
With less than two weeks left before the end of the year, all kinds of market participants, from economists at multinational banks to stock bloggers in their bedrooms, have begun to give their predictions for 2012. Here is a lucky set of seven predictions that could benefit investors next year.
Standard & Poor's on Tuesday said there is a greater number of sovereign and banking bonds at risk of ratings downgrades as a result of its recent warning that it might cut the credit ratings on 15 euro zone nations.
As unprecedented conditions continue to buffet the U.S. equities, and investors pull tens of billions out, investment managers are increasingly counseling their clients on what could be the most basic of stock market strategies: put your cash in mature high-dividend shares of mature companies, and stop fussing.
But skepticism crept in as investors are unconvinced apparently that the Eurozone has solved its problems and finally has it right in the attempt to solve Europe's sovereign debt crisis. Credit rating agency Moody's summed it up best in a weekly credit report, perhaps, saying last week's summit and plan offers few new measures.
Prime Minister Vladimir Putin's opponents hope to bring large numbers of people out onto the streets across Russia on Saturday for rallies that will test their ability to channel outrage over allegations of election fraud into a powerful protest movement.
European stocks were up around mid-day on Friday in a roller coaster session, with a key index bouncing between major technical levels following an agreement by European leaders for tighter Eurozone budget rules.
Talk of Greece voluntarily leaving -- or being kicked out of -- the eurozone was once verboten. Now bank economists, investors, and even central bankers are talking about it as though it's a done deal. The divide between rhetoric is also growing. Those predicting the future Greek exit are calling it "manageable," while those saying it won't happen are labeling the possibility "catastrophic."
Adriana Garcia won't be buying her family Christmas gifts this year.
There is a significant chance that the Federal Reserve will embark on a third round of asset purchases to stimulate the U.S. economy, a major bond fund manager said on Tuesday.
When he retired two years ago, David Moskowitz promised himself he'd donate about 10 percent of his fixed income annually to charity. The 63-year-old from Niles, Illinois, had rarely deviated from his list of causes until two events this year made him reevaluate: the rise of Occupy Wall Street and the foreclosure on a neighbor's home after a layoff.
Occupy Homes, an offshoot of Occupy Wall Street, will protest in foreclosed and vacant properties in around 25 U.S. cities on Tuesday's Day of Action, promoting what organizers call the basic human right of housing.
World stocks and demand for German government bonds rose on Monday as confidence grew European leaders would make big strides in solving the euro zone's debt crisis at a crucial summit this week.
The catalyst for strong equities has been centered on the developments in Europe
Annual compensation for employees at big Wall Street firms could fall 27-30 percent from a year earlier to the lowest level since the 2008 financial crisis, the Wall Street Journal reported, citing a compensation study conducted by the Options Group.
U.S. investors came to the Thanksgiving holiday table on Thursday mostly thankful that the week was a short one because, otherwise, market losses could have been larger.
Spain's Treasury paid the highest yields in 14 years to issue short-term bills on Tuesday, in a sign that a resounding election victory for the center-right People's Party on Sunday has done little to soothe investor nerves.
