There's an almost-daft energy over Wall Street at the moment as stocks keep to four-year highs, a trend that hasn't kept analysts from warning that the party is about to be over.
It may be surprising to many who believe that Wall Street and global finance are inherently malevolent that a century ago, the public had a very similar perception of financial services, a notion that was channeled by editorial cartoonists in hard-hitting illustrations in magazines like Puck and newspapers like the New York Herald. These cartoons would be as fitting today as they were in 1912.
Shares of Facebook (Nasdaq: FB), the No. 1 social networking site, fell to a new record low of $19.01 in midday Friday trading, a day after insiders were allowed to sell as many as 241 million shares they had been required to hold since the May 17 initial public offering.
Trading in U.S. stocks has been going on at a snail's pace recently, a fact market-watchers are blaming on policy uncertainty, but could also be the result of investors fed up with the fragmented, unpredictable nature of the market.
Poor risk control, not fraud, was the reason for the disappearance of $1 billion during the collapse of MF Global.
Thursday frees holders of as many as 271 million shares of Facebook (Nasdaq: FB), the No. 1 social networking site, to sell them for the first time since the first-day trading fiasco on May 18, when shares that had been priced at $38 first traded at $42.05, then didn’t trade for 30 minutes and closed at $38.23.
Two years after Federal Reserve Chairman Ben Bernanke announced plans for a massive second round of monetary stimulus at a yearly Fed summit in Jackson Hole, Wyo., market watchers are beginning to take odds on the chances that his speech at this year's Jackson Hole summit could produce a similar announcement.
The Carlyle Group (Nasdaq: CG), a global asset manager, and Getty Images management said Wednesday they formed a partnership to acquire privately held Getty Images Inc. from Hellman & Friedman for $3.3 billion.
Leaders of a union that operates Colombia's main coal railway met Wednesday to decide how to respond to a unanimous court ruling declaring its three-week strike illegal.
Knight Capital Group Inc. (NYSE:KCG) saw shares in the company drop precipitously early Monday -- at one point losing over 7 percent of their value -- as the bruised-up broker-dealer continued to pick itself up less than two weeks after a trading algorithm gone berserk saddled the firm with $440 million in losses.
Each week, the International Business Times money team picks three winners and three losers. Our choices are made based upon the amount of money involved and how compelling, dramatic, or just generally interesting the story behind the money is.
U.S. regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.
The Justice Dept. said there was "not a viable basis to bring a criminal prosecution" against Goldman Sachs, quietly ending a yearlong investigation into allegations the firm bet against the same subprime mortgage-backed securities that it also sold to its clients.
The Justice Department will not prosecute Goldman Sachs or its employees in a financial fraud probe, officials announce Thursday.
Data compiled by the Congressional Research Service show that thousands of Americans making more than $1 million got unemployment benefits.
Presumptive Republican presidential nominee Mitt Romney has been winnowing his picks for Vice President in private, with most handicappers suggesting nominees who’ve held public office. How about Margaret (Meg) Whitman, CEO of Hewlett-Packard Co. (NYSE: HPQ), one of his fondest supporters?
There's one developing storyline in the saga of Knight Capital Group Inc., the Wall Street market maker that lost more than $440 million Wednesday when an automated trading program it had just installed went berserk, that's not being talked about: It is being propped up by the very people it tried to screw over.
The U.S. Treasury Department on Friday said it plans to sell $4.5 billion in American International Group Inc. (NYSE: AIG) shares, further cutting its ownership stake in the bailed-out insurer.
Shares of U.S. banks of all sizes and specialties rose Friday over 3 percent, handily beating the performance of the wider stock market, which itself was in a head-first rally following a week of disappointing news. But there was one big exception to the equity party: megabank JPMorgan Chase and Co. (NYSE:JPM), which looked poised to underperform its peers in late-afternoon trading.
In a press conference Thursday, European Central Bank President Mario Draghi warned "it's pointless to go short on the euro." The suggestion was lampooned. It turns out, Draghi isn't the only one with that recommendation
Sony reported far greater losses than the struggling company initially expected in its latest quarterly report. Still mired in the process of restructuring the company, how will Kazuo Hirai still carry through his vision for "One Sony?"
The investment at Rikers Island prison is a so-called "social-impact bond", the first of its kind for an American city, and means any potential return for Goldman hinges on the success of a program that will educate, train and counsel inmates aged between 16 and 18.
