Swiss bank UBS posted its first quarterly net profit since Oswald Gruebel took the helm a year ago but clients withdrew far more money than forecast, signaling he may need more time to steady the ship.
Macquarie Group , Australia's top investment bank, spooked investors on Tuesday with a lukewarm outlook, warning them about weakening markets and sending its shares down 6 percent.
A former Intel Capital director pleaded guilty on Monday to fraud in the Galleon insider trading case, telling a New York court that hedge fund founder Raj Rajaratnam gave him money for personal needs and that he profited from illegal trades.
CIT Group Inc said its new Chief Executive John Thain will get an annual base salary of $6 million, most of which is in stock, and a bonus of up to another $1.5 million, in a nod to compensation practices popularized by the Obama administration's pay czar.
A federal judge expressed skepticism about the U.S. Securities and Exchange Commission's $150-million settlement with Bank of America Corp over the Merrill Lynch takeover, questioning whether the regulator was too tame in setting forth facts to help him decide.
The Dow industrials closed below 10,000 for the first time since November on Monday as investors sold bank shares due to heightened concerns about the euro zone's sovereign debt troubles.
U.S. stocks erased morning gains to close lower on Monday as the basic materials and financial sector weighed down the market.
The Dow industrials closed below 10,000 for the first time since November on Monday as investors sold bank shares due to heightened concerns about the euro zone's sovereign debt troubles.
Fears about the sovereign debt of peripheral European nations continue as investors are show dissatisfaction with the stance of European G7 members.
The S&P 500 and Nasdaq edged higher on Monday as several bellwethers rose on brokerage upgrades and positive comments about the economy, but worries about euro zone sovereign debt problems limited gains.
U.S. stocks edged higher on Monday as several bellwether shares rose on brokerage upgrades and comments about improving economic conditions, though persistent worries about euro zone sovereign debt problems limited gains.
The S&P 500 erased earlier losses to trade positive for the day, as commodity related firms get a boost from a declining dollar and housing related stocks lead the rally.
Stock index futures pointed to a flat open on Monday as nagging worries about euro zone sovereign debt continued to weigh on sentiment.
Wall Street was poised for a flat open on Monday as positive quarterly results from companies, including CVS Caremark Corp and Hasbro Inc, offset nagging worries about euro zone sovereign debt issues.
Stock index futures were lower on Monday as nagging worries about euro zone sovereign debt continued to weigh on sentiment.
Barclays Wealth, the private banking arm of British bank Barclays , has hired another three bankers from UBS , adding to the 10 who were recruited in August last year.
Citigroup Inc has held talks with private equity groups and hedge funds over the sale of $3 billion in car loans in a move to clear troubled assets from its balance sheet, according to a report by the Financial Times.
CIT Group Inc has hired former Merrill Lynch CEO John Thain as its new chief executive, the commercial lender said late on Sunday, wagering that the well-traveled executive can guide its post-bankruptcy turnaround.
Private equity firms are again being threatened with higher taxes, as a long-running debate over how to classify their profits again becomes a focus for governments desperate for cash.
The United States is unwilling to re-enter talks to alter a key deal struck with Switzerland to end a damaging tax case against Swiss banking group UBS AG , the U.S. ambassador in Berne was quoted saying in a Swiss Sunday paper.
In a sign it is concerned about Main Street anger over bankers' compensation, Goldman Sachs Group Inc decided to give its CEO Lloyd Blankfein and other top executives lower bonuses than many had expected.
The common misconception is that ETFs take in investor money and then go out and buy the assets according to their investment mandate, like a traditional open-end mutual fund.