Top Bank of America Corp lawyers knew as early as January that American International Group Inc was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to sources familiar with the matter.
Even PIMCO's Bill Gross makes a wrong call every now and then. Gross, manager of the world's largest bond fund noted for calling the housing bubble early on that burst several years ago, feels like crying in his beer for betting so heavily against U.S. government related debt this year.
Lehman Brothers Holdings Inc will ask a bankruptcy judge on Tuesday to let creditors vote on its $65 billion payout plan, a key step toward ending the biggest bankruptcy in U.S. history.
XCMG Construction Machinery Co Ltd (000425.SZ) is slated to start pre-marketing on September 5 for an up to $1.5 billion planned share listing in Hong Kong, IFR reported on Friday.
Billionaire Warren Buffett would invest $5 billion in Bank of America Corp. (NYSE:BAC), expressing his biggest vote of confidence in the banking giant.
The U.S. wealth management industry is shrinking, losing legions of advisers, just as demand for their services is on the rise.
The deadline for initial bids in the auction for Hulu was extended from Wednesday until the end of the week to allow interested parties more time to examine the online video site's financial information, according to people familiar with the situation.
Bids for Hulu are due on Wednesday from a collection of tech and satellite giants -- with Yahoo, Google, Amazon and DirecTV among the likely contenders.
Several major banks cut sharply their oil price forecasts on Tuesday, with Citigroup saying that even if the United States printed more money, oil would stay depressed by weak economic growth and fresh supplies from Libya.
U.S. Sen. Bernie Sanders, I-Vt., says speculators have contributed to oil’s high price – hurting the U.S. economy and wreaking havoc on family budgets, and he’s proposed a bill that he believes will help stop it.
Pimco's Bill Gross says a new recession in the U.S. is likely. Gross is manager of the world's largest bond fund. He says the decline in U.S. Treasury yields to 60-year lows reflects a high probability of a new recession, or a double-dip, in America.
The U.S. Federal Reserve lent private banks about $1.2 trillion from 2007-2009 in order to maintain credit market liquidity, bank function, and prevent the U.S. economy from plunging in to a depression.
Oil trading data that exposed the extensive positions speculators held in the run-up to record high prices in 2008 were intentionally leaked by a U.S. senator, sparking broader concern about industry confidentiality as Congress moves on Wall Street reform.
Oil trading data that exposed the extensive positions speculators held in the run-up to record high prices in 2008 were intentionally leaked by a U.S. senator, sparking broader concern about industry confidentiality as Congress moves on Wall Street reform.
The U.S. stock market had a mini-meltdown on Thursday as fears about a second recession in the United States and Europe rattled investors.
Stocks tumbled more than 4 percent on Thursday after data pointed to a stalled economy and as bank shares sank on a report regulators were scrutinizing the U.S. units of big European lenders.
Stocks tumbled in New York after the opening bell this morning, prompting fears that America is heading into another deep economic recession.
Stocks tumbled in New York after the opening bell this morning, prompting fears that America is heading into another deep economic recession.
Traders on the U.S. futures market bid up the price of gold to a record high early Thursday on continued concern about the slowing economies of both Europe and the United States.
Stock index futures pointed to a sharply lower open on Wall Street on Thursday, with futures for the S&P 500 down 2 percent, Dow Jones futures down 1.5 percent and Nasdaq 100 futures down 2.2 percent at 5:17 a.m. EDT.
European equities followed Asian stocks lower Thursday as investors fretting about the global growth outlook cut exposure to riskier assets, while the Swiss franc fell on talk the central bank was intervening in the forwards market.
The global economy is "dangerously close to a recession," Morgan Stanley said, slashing its growth forecast for 2011 and 2012.
