Bernard Madoff's prison life began on Tuesday, a long way from the luxury homes, sleek yachts and precious designer watches and clothes he accumulated in the years he ran Wall Street's biggest investment fraud.
U.S. stocks were little changed on Tuesday as positive news from the corporate earnings season offset data pointing to weak consumer demand.
A painfully gradual U.S. recovery should start in the third quarter, even as the job market is still weakening, said an economist with the San Francisco Federal Reserve Bank.
Bernard Madoff's prison life began on Tuesday, a far cry from his life of luxurious apartments and yachts he accrued while running Wall Street's biggest investment fraud.
Shares of small-business lender CIT Group Inc jumped Tuesday amid hopes that the company can access government aid or otherwise restructure debt to forestall a liquidity crisis.
A jump in auto and gasoline sales salvaged an otherwise lackluster June for U.S. retailers, while an inflation gauge jumped by twice as much as expected, suggesting a long-awaited economic recovery will be sluggish.
The current U.S. system of consumer financial protection is designed to fail and needs replacement with a dedicated new agency that can respond more quickly to emerging problems in the financial sector, a senior U.S. Treasury official said on Tuesday.
Jailed author of the biggest Ponzi scheme in U.S. history is on his the move again. He is currently being transferred from a medium security prison in Atlanta to an undisclosed location, according to the Federal Bureau of Prisons.
The U.S. Justice Department is investigating whether the banks that own Markit, a leading information supplier in the credit default swaps market, have unfair access to price information, Bloomberg reported, citing three people familiar with the matter.
Oil prices rose by around 1 percent to above $60 on Tuesday as renewed confidence across financial markets helped to reverse some of last week's falls.
Jailed author of the biggest Ponzi scheme in U.S. history is on his the move again. He is currently being transferred from a medium security prison in Atlanta to an undisclosed location, according to the Federal Bureau of Prisons, CNN reported. Madoff arrived at the Atlanta prison on Tuesday after he was moved from his New York jail cell.
Stocks fell on Tuesday, weighed by data pointing to weak consumer demand and by profit-taking in banks after a run-up in anticipation of strong results from Goldman Sachs Group .
Swindler Bernard Madoff was temporarily moved to a prison in Atlanta from New York and was in transit to yet another facility on Tuesday, a U.S. official said.
Shares of lender CIT Group Inc jumped Tuesday on expectations that regulators will support the company, which is struggling with a liquidity crisis.
Goldman Sachs' strong second-quarter earnings were a result of basic blocking and tackling for the firm, the Wall Street bank's chief financial officer said on Tuesday.
Sales at U.S. retailers rose a stronger-than-expected 0.6 percent in June, boosted by a big jump in auto sales, Commerce Department data showed on Tuesday.
Oil prices rose by around $1 dollar to above $60 on Tuesday as renewed confidence across financial markets helped to reverse some of last week's falls.
Goldman Sachs Group Inc reported a record breaking second quarter for revenue on Tuesday as its trading division delivered strong results.
Goldman Sachs Group Inc reported a 33 percent rise in quarterly earnings Tuesday on strong trading results, continuing an extraordinary rebound from the near meltdown of the U.S. financial sector last fall.
Confessed swindler Bernard Madoff was in a medium security prison in Atlanta after being moved from his New York jail cell, U.S. official prisons bureau records showed on Tuesday.
Stocks opened little changed on Tuesday as investors paused following a strong run-up in the previous session and after government data pointed to a slower than expected recovery in consumer spending in June.
Stocks headed for a flat open on Tuesday as government data pointing to a slower than expected recovery in consumer spending fueled caution even after strong quarterly earnings from Goldman Sachs Group
Goldman Sachs is expected to report 2Q earnings today. The bank reported a profit of $1.8 billion in the first quarter after earning strong revenues from its fixed income, commodities and currencies trading division. Shares are expected to rise as the markets open.
Stock index futures briefly turned negative on Tuesday following a report that pointed to underlying weakness in consumer spending in June.
Sales at U.S. retailers rose a stronger-than-expected 0.6 percent in June, boosted by a big jump in auto sales, Commerce Department data showed on Tuesday.
Goldman Sachs Group Inc reported a 33 percent rise in quarterly earnings on Tuesday as a strong gain in trading was offset by a one-time charge to repay government loans.
Goldman Sachs Group Inc on Tuesday reported second-quarter earnings.
Struggling flag carrier British Airways said on Tuesday it was considering launching a convertible bond, not a rights issue, to shore up its balance sheet during the global aviation sector downturn.
U.S. Treasury Secretary Timothy Geithner said on Tuesday he saw signs of confidence returning to the U.S. financial sector and pledged that the United States would pursue policies that preserve the dollar's value.
Goldman Sachs Group Inc executives sold almost $700 million worth of stock since the collapse of rival Lehman Brothers last year, the Financial Times said on Monday.
