Wall Street faces a historic shake-up next week as General Motors, a pillar of American industry, heads into bankruptcy, but the market could advance further if economic data signals the worst of the recession has passed.
The Agricultural Bank of China is set to open in New York and London, building a round-the-clock commodity trading team and taking global Beijing's ambition to be a major force on commodity markets.
Following a Morgan Stanley plan unveiled last week, Citigroup and Bank of America are likely to soon raise base salaries for investment bankers to compensate for limits on annual bonuses, the Wall Street Journal said, citing people familiar with the matter.
Oil firmed above $61 on Friday as fundamental support came from consumer nations such as China, the United States and Africa's top producer Nigeria after weeks of equity-led rallies.
U.S. stocks pared gains on Wednesday as a pullback in financial shares offset positive broker comments on bellwethers McDonald's and Procter & Gamble.
JPMorgan Chase & Co and several other banks eager to escape the restrictions and stigma linked to government bailout funds may get the chance to do so in the next few weeks.
World stocks rose for the fourth session in a row on Wednesday, despite overnight losses on Wall Street, lifting demand for higher-yielding currencies.
Japan's Nikkei stock index rose 0.4 percent on Wednesday with trading houses up after a brokerage upgraded Mitsubishi Corp, but gains were limited as a slightly firmer yen dragged on exporters such as Honda Motor Co.
JPMorgan Chase & Co and several other banks eager to escape the restrictions and stigma linked to government bailout funds may get the chance to do so in the next few weeks.
Several major banks are seeking permission to repay government bailout funds, and JPMorgan Chase & Co expects repayments to begin within the next couple of weeks.
U.S. housing starts and permits fell to record lows in April, weighed down by a slump in multifamily units, according to data on Tuesday that still hinted the U.S. recession may be drawing to a close.
Stock index futures rose on Tuesday, positioning Wall Street to recoup the rest of last week's losses, as upbeat quarterly results from Home Depot Inc bolstered hopes the economic downturn was easing.
Goldman Sachs Group Inc, Morgan Stanley and other banks have applied to repay billions of dollars they borrowed under the U.S. government's Troubled Asset Relief Program, sources familiar with the situation said on Monday.
World stocks rose for a third day running on Tuesday with banking stocks leading the gains in Europe, while oil hit a six-month peak.
State Street Corp said it plans to sell $1.5 billion of stock and will also sell notes to help repay government bailout funds, and took a $3.7 billion charge to move some assets onto its balance sheet at a loss.
Stocks rose on Monday as a solid quarterly profit and raised forecast from Lowe's Cos Inc , the No. 2 U.S. home improvement retailer, fueled hopes the economic slump was easing and spending was stabilizing.
Vornado Realty Trust’s Michael Fascitelli has officially taken on chief executive officer role after a vote by the firm’s board. Fascitelli, 52, succeeds Steven Roth, 67, who retains the Chairman title.
Documents made public on Wednesday confirm former U.S. Treasury Secretary Henry Paulson gave nine major banks no choice but to allow the government to take equity stakes in them as the Bush administration moved to address turmoil in the financial industry.
Corrects fifth paragraph to losses instead of lawsuits
Documents made public on Wednesday confirm former U.S. Treasury Secretary Henry Paulson gave nine major banks no choice but to allow the government to take equity stakes in them as the Bush administration moved to address turmoil in the financial industry.
Documents made public on Wednesday confirm former U.S. Treasury Secretary Henry Paulson gave nine major banks no choice but to allow the government to take equity stakes in them as the Bush administration moved to address turmoil in the financial industry.
Former Treasury Secretary Henry Paulson told nine banks last year that they should accept a federal infusion of funds or be forced to by the regulators, according to a report.
