Bank of America Corp dismissed 13 investment bankers in its industrials group and may cut more, Bloomberg reported on Tuesday, citing two people with direct knowledge of the actions.
UBS chief executive Oswald Gruebel said on Wednesday he still has support from the Swiss bank's board of directors, after unauthorized trading caused a $2.3 billion loss.
Silver mining companies rose in aftermarket trading Tuesday even as the price of silver gave up gains achieved earlier in the day.
The stock price has been languishing for more than two years -- shares have lost almost half their value year-to-date.
Gold's rally will extend beyond $2,000 an ounce in the next year, but won't match the torrid record-breaking climb of the last 12 months, according to gold investors and analysts attending the London Bullion Market Association's (LBMA) annual conference.
The U.S.-based Standard and Poor credit ratings agency upgraded Turkey's local-currency sovereign credit rating to investment grade for the first time in history, highlighting the country’s relatively strong financial condition compared to its neighbors in Europe.
The relationship between President Obama and Warren Buffett has grown as the president is calling on wealthy Americans to pay more in taxes to solve deficit problems.
Hecla Mining Co., one of the largest silver miners in the world, said Tuesday it is linking its stock dividend policy to its average quarterly realized silver price in the preceding quarter.
Zambians voted on Tuesday in a closely contested election between President Rupiah Banda and opposition leader Michael Sata, who has been a critic of foreign investment in Africa's biggest copper producer, most notably from China.
South African stocks rose to their highest level in more than six weeks on Tuesday, bouncing back from the previous session's decline, with gold miners among the top gainers as the domestic currency falters and bullion prices cruise higher.
NASA has announced a plan to launch its astronauts to the International Space Station and low Earth orbit through the partnerships of private companies.
A physicist, an architect, an evolutionary geneticist and a jazz percussionist are among the 22 people to win MacArthur Genius Grants in 2011.
In China, he has surprised and charmed the nation by his humility and ordinariness.
President Barack Obama has thrown down the gauntlet regarding the deficit reduction process -- the only question is, does he have the support of the American people to enact his budget vision, or is substantive action unlikely prior to the 2012 election, due to divided government?
A new study found that self-powered cells, fueled by bacteria, can produce a limitless supply of hydrogen, offering hope for the future use of this efficient energy carrier.
The Mongolian government is discussing possible changes to a 2009 investment agreement for its massive copper-gold deposit at Oyu Tolgoi, media reports quoted the country's Finance Minister S. Bayartsogt as saying on Tuesday.
Gold rose on Tuesday, after Standard and Poor's downgraded Italy's credit rating, adding to the strain on the debt-distressed euro zone, while uncertainty over the outcome of a key U.S. Federal Reserve meeting also helped buoy the market.
As Europe's debt crisis deepens, low-yielding U.S. government debt and the much maligned dollar are suddenly glowing more brightly than gold.
China must reduce barriers to foreign companies if it is to meet its own development goals, the U.S. ambassador said in Beijing on Tuesday in a speech that reflected foreign investors' growing frustration with the pace of economic reforms in the country.
UBS AG Chief Executive Oswald Gruebel will seek a vote of confidence at a board meeting in Singapore for plans to slash the investment banking division that caused a $2.3 billion loss due to unauthorized trading, a Swiss newspaper reported on Tuesday.
Bank of China, a big market-maker in China's onshore foreign exchange market, has stopped foreign exchange forwards and swaps trading with several European banks due to the unfolding debt crisis in Europe, three sources with direct knowledge of the matter told Reuters on Tuesday.
Securities regulators have sent subpoenas to hedge funds and other trading firms in a probe of possible insider trading before the U.S. government's long-term credit rating was cut last month, the Wall Street Journal said, citing people familiar with the matter.
