Citigroup Inc was under direct pressure from U.S. regulators to replace former chief financial officer Ned Kelly, the Financial Times said, citing parts of a confidential agreement it viewed.
Asian stocks edged up on Wednesday but hovered near three-week lows hit the previous day, with investors cautious ahead of Chinese bank results and wary that profit taking will continue to stall a six-month rally.
Oil extended gains toward $70 on Wednesday, after surging more than 3 percent in the previous session on data that showed a surprise fall in U.S. crude stocks, boosting hopes of demand recovery in the world's top energy user.
Japan's Nikkei average dipped 0.2 percent in choppy trade on Wednesday, weighed down by investor caution after disappointing U.S. housing data, but blue-chip stocks such as Canon Inc and carmakers jumped after brokerage upgrades.
Japan's Nikkei average dipped 0.2 percent in choppy trade on Wednesday, weighed down by investor caution after disappointing U.S. housing data, but blue-chip stocks such as Canon Inc and carmakers jumped after brokerage upgrades.
Banks are lowering bonuses to defuse popular outrage, but by curtailing employee incentives, compensation experts say the banks and the U.S. government are failing to fix practices that led to the financial crisis.
Japan's Nikkei average rose 0.2 percent on Wednesday, buoyed by blue-chip stocks such as Canon Inc and carmakers after brokerage upgrades, while upbeat results from big U.S. retailers helped investor confidence.
The Australian Dollar opens higher today against the greenback at 0.8260.
China could still increase its holdings of US Treasuries if the dollar is stable, even though the long-term trajectory is to diversify its foreign exchange reserves, according to a former central bank governor.
Hedge funds are having their best year since 1998, yet most fund managers still are well below their peaks before the market's meltdown last year, industry analysts said.
Robert Benmosche, the newly appointed chief executive of AIG , has started to cut up the insurer's restructuring plan, deciding it is better to hold on to an investment advisory unit that is part of the insurer's retirement services group.
The Australian Dollar opens higher today against the greenback at 0.8260. During local trade yesterday the Aussie moved half a US cent higher towards 0.8250 after the minutes of the Reserve Bank of Australia's August board meeting underlined once more the market's expectations of an interest rate rise by the end of the year. Also delaying another test lower for the currency was a stronger-than-expected performance on local equities which finished the day only slightly lower after a poor lead fro...
Ground-breaking for new U.S. single-family homes rose for a fifth straight month in July and producer prices tumbled, keeping hopes for an economic recovery alive.
Ground-breaking on new U.S. family homes rose for a fifth month in a row and producer prices tumbled, keeping hopes for economic recovery alive.
Oil rose more that 3 percent to top $69 a barrel on Tuesday as stronger-than-expected earnings results lifted equities and boosted optimism about the economy.
Stocks rose on Tuesday, rebounding after sharp losses in the previous session, as better-than-expected results from big retailers encouraged investors to get back into the market.
The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax evasion now made easier by a deal over access to secret account information.
Metro-Goldwyn-Mayer Inc has replaced its chief executive, Harry Sloan, with a team that includes a turnaround expert and its production boss, Mary Parent, as the storied Hollywood studio grapples with reducing a high debt load.
U.S. stocks rose on Tuesday, erasing some of the sharp losses in the previous session as better-than-expected results from big retailers encouraged investors' back into the market.
The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax evasion now made easier by a deal over access to secret account information.
Mohamed El-Erian, the chief executive of top bond fund manager PIMCO, on Tuesday said the rally in U.S. stocks had topped out because valuations have shot up too quickly.
Ground breaking for new U.S. homes fell in July, but a fifth straight monthly rise in single-family home construction kept hopes alive the economy was poised to recover from recession.
Stocks rose on Tuesday, rebounding from a sharp fall in global equities in the previous session as better-than-expected results from big retailers offset a surprise drop in housing starts.
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The euro rose on Tuesday, recovering from multi-week lows against the dollar and yen, after an unexpected gain in German investor sentiment boosted optimism about the euro zone economy.
Stocks extended gains on Tuesday, boosted by financial and technology shares one day after a sharp sell-off, while retailers were lifted by better-than-expected results from Home Depot Inc and Target Corp .
The Federal Reserve recently issued its '5 Tips for Getting the Most from Your Credit Cardâ€
Upscale department store operator Saks Inc posted a narrower-than-expected quarterly loss on Tuesday as it trimmed costs while well-heeled shoppers held back from pricey purchases.
Stocks rose on Tuesday, rebounding from a sharp fall in global equities the previous day, as better-than-expected results from retailers, including Home Depot Inc and Target Corp , offset a surprise drop in housing starts.
Oil rose above $67 a barrel on Tuesday, tracking gains on global stock markets ahead of key U.S. crude inventory data.
