A federal appeals court will wait until late September to review U.S. District Judge Jed Rakoff's rejection of a U.S. Securities and Exchange Commission fraud settlement with Citigroup Inc over mortgage investments.
U.S. and European investment banks may face headline risk again from credit ratings downgrades by Moody's Investors Service Inc. in the coming weeks, Nomura Securities warned Monday.
In the context of a quiet week with comparatively few headlines out of Europe and U.S. government data showing relatively few surprises, many economists predicted a continuation of a positive mood, driven by recent growth in the labor market. However, there are concerns about gasoline prices.
A panel of federal appeals judges said Thursday that there's a "strong likelihood" a lower court's rejection of a $285 million civil-fraud settlement between the SEC and Citigroup will be overturned.
Russian billionaire Dmitry Rybolovlev -- who reportedly purchased an $88 million Central Park West apartment for his daughter while she attended school in New York-- is facing accusations from his estranged wife regarding the true reason for purchasing such a lavish pad.
A federal appeals court stopped just short of throwing out a judge's controversial rejection of the U.S. Securities and Exchange Commission's $285 million settlement with Citigroup Inc in a fraud case.
Bank of America Corp shares on Wednesday hit their highest level in seven months after a Federal Reserve stress test affirmed one of the more troubled U.S. banks had made progress in improving its capital levels.
Citigroup Inc on Wednesday stood by its pledge to reward shareholders, as Wall Street sought to understand why the bank failed to win approval from regulators to increase its dividend or buy back stock.
Whatever buzz came from the post-FOMC statement and catapulted stocks up on Tuesday turned into a hush Wednesday afternoon. Equities started strong but ended with a whimper.
Stocks mostly edged lower on Tuesday, with the S&P 500 pulling back after nearing 1,400 as investors found little reason to extend the previous day's rally on the Federal Reserve's comments on the economy and the banking sector.
Shares of Citigroup (NYSE: C) fell more than 4 percent Wednesday after the Federal Reserve said the No. 3 U.S. bank flunked a “stress test” of its financial viability.
The inspector general for the U.S. Department of Housing and Urban Development said banks involved in the nationwide settlement on foreclosure practices significantly hindered its investigation.
Stocks were largely flat on Wednesday as investors balanced comments from the Federal Reserve on the economy and banking sector against the recent, five-day rally.
Stock index futures pointed to a flat open on Wednesday as investors weighed comments from the Federal Reserve on the economy and banking sector against the recent five-day rally.
The companies whose shares are moving in pre-market trade on Wednesday are: Francesca's Holdings Corp, Zions Bancorporation, Regions Financial Co, RADVision Ltd, Clearwire Corp, LSI Corp, SunTrust Banks, Citigroup, American Capital Mortgage Investment Corp and Fifth Third Bancorp.
Stock index futures were little changed on Wednesday as investors weighed comments from the Federal Reserve on the economy and banking sector against the recent five-day rally.