In a rundown patch of Detroit, enclosed by a cyclone fence and barbed wire, stands an unremarkable warehouse that investment bank Goldman Sachs has transformed into a money-making machine.
The head of the U.S. futures regulator working on a sweeping review into the business practices of failed futures brokerage MF Global Inc. said he will not be participating in any further parts of the inquiry, a source told Reuters Friday.
World leaders on Friday identified 29 banks deemed so important to the global financial system that they require more capital and closer supervision, as well as a plan that would safeguard taxpayers should they fail.
We are now well into third quarter earnings season, with the vast majority of companies reported both bottom- and top-line results that met or beat expectations. Here's a summary of who met, and who missed, analyst estimates.
The fall of Jon Corzine, a prominent figure with a toehold in the worlds of both finance and politics, is not only an issue for himself, but for one of the men who likely sought his advice and support on a regular basis, President Barack Obama. Perhaps more importantly, it follows a trend that has dogged the president since 2010, as, due to a variety of causes, many of the people close to Wall Street he had previously sought out have later found themselves uninvited to tea in the Rose Garden.
Groupon shares soared in early trading this morning to $28, a 40 percent increase over its $20 price announced last night, as the company made its initial public offering.
Groupon Inc raised $700 million after increasing the size of its initial public offering, becoming the largest IPO by a U.S. Internet company since Google Inc raised $1.7 billion in 2004.
Jon Corzine has resigned as MF Global Holdings Ltd's chairman and chief executive officer four days after the futures brokerage filed for bankruptcy protection, culminating a rapid downfall for one of Wall Street's best-known executives.
Deals site Groupon raised $700 million via its long-delayed initial public offering, leaving the Chicago-based company valued at $12.7 billion.
MF Global Holdings Ltd Chief Executive Jon Corzine resigned, four days after the futures brokerage filed for bankruptcy protection.
Groupon Inc. raised $700 million after increasing the size of its initial public offering, becoming the largest IPO by an Internet company since Google Inc raised $1.7 billion in 2004.
Groupon Inc raised $700 million after increasing the size of its initial public offering, becoming the largest IPO by an Internet company since Google Inc raised $1.7 billion in 2004.
Jones Lang LaSalle, one of the world's largest real estate services companies, reported revenue of $903 million in the third quarter, up 28 percent from the previous year.
Russian companies are the most likely to engage in bribery when conducting international deals, followed closely by China, according to the 2011 Bribe Payers Index from Transparency International.
It's been a tough few days for Gov. Rick Perry, R-Texas. A giddy speech he made in New Hampshire on Friday led commentators to question his sobriety, and now, the blogosphere is abuzz with the news that he used a fake quote to mock Occupy Wall Street protesters.
Corporations are booking huge third-quarter profits and sitting on gargantuan piles of cash -- and nothing could be less important.
U.S. banks have not done enough to ensure they are well capitalized, and getting back to a system where retail and investment banking are separated would be attractive in terms of reform, Bill Gross, manager of the world's largest bond fund, said on Tuesday.
Michael (Mike the Butcher) Virtuoso, the loanshark accused of a Mafia shakedown of former New Jersey Gov. Jon Corzine's personal chauffeur, pleaded guilty last month to extortion in connection with a loan that had a 250 percent interest rate, the New York Daily News reported.
Goldman Sachs has purchased a majority stake in a 10-office building portfolio in Virginia from the estate of Lehman Brothers Holdings Inc, Lehman said on Monday.
Traders scrambled to cover trading exposures to MF Global on Tuesday, as administrators sought to save what money was left in the collapsed U.S. brokerage's London arm.
Akamai Technologies President David Kenny, who quit last week, said he has no plans to become the next CEO of Yahoo.
A U.S. judge has appointed a trustee to oversee the liquidation of the U.S. brokerage unit of Jon Corzine's MF Global Holdings Ltd, which filed for bankruptcy protection on Monday, a federal agency said.