Goldman Sachs Group (GS), the former investment bank known for aggressive risk taking, is facing a frontal assault on its traditional dominance of fixed income trading from an unlikely source: commercial bank JPMorgan Chase & Co (JPM).
Facebook's chief operating officer said the social networking company was targeting a bigger ad market than the search ad market that has made Google Inc rich.
U.S. stock index futures pointed to a higher open on Wall Street on Friday, as investors awaited key earnings reports from conglomerate General Electric and Bank of America .
The Obama administration scored its first financial regulation reform victory in months on Thursday when a U.S. congressional committee approved new rules for over-the-counter derivatives.
Japan Airlines Corp shares slid 12 percent to a record low on Friday as investors suggested bankruptcy may be an option for Asia's biggest airline by revenue, even as the government again pledged to support the troubled carrier.
Billionaire investor and philanthropist George Soros said on Thursday that the world's current currency arrangements are fraught with danger and that the world needs global regulation.
The U.S. economy is recovering but the upturn will be slow and it makes no sense to raise interest rates in this climate since inflation is not a risk, a top Federal Reserve official said on Thursday.
Bank of America Corp's departing chief executive, Kenneth Lewis, will receive no pay for 2009, but questions still linger about his $125 million retirement payout.
Goldman Sachs Group Inc opted to devote a smaller chunk of revenue to compensation in the latest quarter in what may be a sop to critics angry about a bonus bonanza so soon after the bank took billions in government funds.
Former Bear Stearns hedge fund manager Matthew Tannin, on trial for fraud and lying to investors early in the financial crisis, might have made strategic mistakes but he did not conspire with colleagues to commit a crime, his lawyer said on Thursday.
Intraday support at 0.9030 held firm in local exchange yesterday with strong Chinese Trade data giving the Aussie another boost towards 91 cents.
Users of credit cards may wish to compare their current annual percentage rates to national averages for card categories tracked by CreditCards.com.
Bank of America Corp Chief Executive Kenneth Lewis will receive no pay or benefits for his last year of work at the company.
U.S. authorities charged 41 people in a suspected mortgage fraud scheme that cheated lenders out of more than $64 million on more than 100 New York state properties, prosecutors said on Thursday.
Google plans to launch an online store to deliver electronic books to any device with a Web browser, threatening to upset a burgeoning market for dedicated e-readers dominated by Amazon's Kindle.
Google Inc's quarterly profit beat estimates as revenues grew at their strongest sequential pace in more than a year, sending its shares up 2.4 percent.
The Dow industrials and the S&P 500 climbed on Thursday to 2009 closing highs, buoyed by energy stocks as oil prices jumped, but financials retreated as investors panned results from Goldman Sachs and Citigroup.
Labor market, manufacturing and consumer price data released on Thursday portrayed the U.S. economy as steadily emerging from a protracted recession, with inflation under control.
Goldman Sachs Group Inc's vaunted trading operations helped the dominant Wall Street firm quadruple its earnings, but investment banking results were lackluster and its shares fell.
Goldman Sachs' earned $3.19 billion in the third quarter, led by booming sales from its trading division, which accounted for 85.3 percent of all sales
U.S. stocks were little changed on Thursday after Goldman Sachs Group and Citigroup Inc's quarterly results fell short of some investors' expectations, a day after major indexes rallied to fresh highs for 2009.
Former Bear Stearns hedge fund manager Matthew Tannin, on trial for fraud and charges he lied to investors early in the financial crisis, could not have foreseen problems in the subprime mortgage market in 2007, his lawyer said in opening his defense on Thursday.
Top U.S. executives are becoming more hopeful about the global economy and the U.S. business outlook, according to a survey of business leaders released on Thursday.
Goldman Sachs Group Inc quarterly earnings nearly quadrupled, topping expectations, but its shares fell on disappointment that so much of the profit came from trading gains that might not be sustainable.
Oil prices jumped more than 3 percent on Thursday, touching a one-year high after government data showed a steep, unexpected drop in U.S. gasoline and distillate inventories.
A key U.S. congressional committee approved new rules for the largely unpoliced $450-trillion derivatives market on Thursday in a win for the Obama administration.
Top U.S. executives are becoming more hopeful about the global economy and the U.S. business outlook, according to a survey of business leaders released on Thursday.
American International Group Inc said on Thursday it expects to recognize a loss of about $1.4 billion on the sale of Nan Shan Life Insurance Co, its life insurance unit in Taiwan.
Citigroup Inc posted a quarterly per-share loss as it suffered $8 billion of credit losses, raising questions about when the bank can return to sustained profitability.
Oil prices jumped more than 2 percent on Thursday, touching a one-year high after government data showed a steep, unexpected drop in U.S. gasoline and distillate inventories.
