U.S. banks have already recognized two-thirds of an estimated $2.1 trillion to $2.6 trillion in credit losses, but prime mortgage and commercial real estate would contribute more to the remaining losses, Goldman Sachs said.
U.S. banks continue to face significant challenges, particularly from rising delinquencies in commercial real estate and commercial loans, a Federal Reserve official said on Monday.
Citigroup Inc on Monday named Willem Buiter as the bank's new chief economist replacing Lewis Alexander, the bank said.
U.S. fund managers decreased their heavy exposure to stocks in November while increasing their cash allocations ahead of 2009's close and on signs that economic recovery may be slow, a Reuters poll showed on Monday.
Dubai's debt woes could further unhinge an already fragile U.S. commercial real estate market, as it illustrates the importance of that tiny emirate to global investors in an increasingly interconnected world.
Honiton Energy Group has hired Morgan Stanley to advise the China-focused wind power developer on luring a new investor, in a deal that could value the entire company at up to $250 million, sources said on Monday.
U.S. stocks fell more than 1 percent in a truncated session on Friday as a possible debt default by a Dubai state-owned conglomerate led to fresh concerns about the global financial system.
Retailers Protect Profits; Business at the White House; Beijing Auto's SAAB Option
Dubai's debt crisis could be China's opportunity to snap up gold and oil assets, a senior Chinese official said in remarks published on Monday.
Thirty global financial institutions have been selected for cross-border supervision exercises by regulators, the Financial Times reported on Monday.
A group of noteholders of bankrupt regional theme park operator Six Flags Inc said on Sunday it submitted an alternative reorganization plan that transfers most of the equity to them.
UAE markets will face intense selling pressure when they reopen on Monday in the first post-holiday trading after Dubai shocked global markets last week by seeking a debt standstill for two flagship firms.
Swiss bank UBS is threatening to move its headquarters out of Switzerland if the authorities impose too many new regulations in the wake of the global financial crisis, Swiss weekly paper Sonntag CH said.
ABN AMRO, Goldman Sachs and World Online misled investors during the 2000 initial public offering of the Dutch Internet provider, the Dutch Supreme Court ruled on Friday.
As the world wrangles over how to fight climate change, with national leaders to meet in Copenhagen early next month, capital markets are gearing up to handle the consequences if the effort fails.
British banks have far greater exposure to potential problem debts in the United Arab Emirates than rivals in France, the United States, Japan or anywhere else, loans data show, as worries mount about the region.
U.S. stocks fell more than 1 percent in a truncated session on Friday as a possible debt default by a Dubai state-owned conglomerate led to fresh concerns about the global financial system.
U.S. stocks fell more than 1 percent on Friday as a possible debt default by a Dubai state-owned conglomerate increased investors' uncertainty about the financial system's strength.
Most big U.S. banks may be forced to make public offerings soon if the Treasury demands payback of the funds it issued under the Troubled Assets Relief Program, veteran banking analyst Richard Bove said.
Most big U.S. banks may be forced to make public offerings soon if the Treasury demands payback of the funds it issued under the Troubled Assets Relief Program, veteran banking analyst Richard Bove said.
U.S. stock were sharply lower on Friday as a possible debt default at a Dubai state-owned conglomerate sparked fears of renewed financial turmoil.
French alternative asset manager Laffitte Capital Management, which had a narrow escape from the Lehman collapse, has sought EU regulatory approval for its newest hedge fund to win broad investor appeal after the crisis.