Morgan Stanley Chief Executive John Mack is stepping down and will be replaced by retail brokerage head James Gorman, signaling the storied bank is embracing stable businesses after losing big on risky ones.
U.S. stocks gained for a fifth straight session on Thursday, their longest string of gains since November, as a bright outlook from consumer product company Procter & Gamble and a successful Treasury bond auction boosted investors' confidence.
Wal-Mart Stores Inc is expecting a late Christmas as consumers continue to carefully manage spending, CEO Mike Duke said at an investor conference on Thursday.
U.S. stocks rose for a fifth straight session on Thursday as a brighter outlook from consumer product company Procter & Gamble and a successful Treasury bond auction encouraged investors about an economic recovery.
Bank of America Corp said on Thursday it named London-based Andrea Orcel an executive chairman for its global banking and markets division, according to an internal memo seen by Reuters.
Shares of Skyworks Solutions Inc rose as much as 12 percent on Thursday, a day after the cell phone chipmaker raised its fourth-quarter outlook citing improvement in demand, prompting at least two brokers to raise their price targets on the stock.
Daiwa Securities Group said it would pay about $2.2 billion to buy out Sumitomo Mitsui Financial Group from their investment banking joint venture, leaving Daiwa vulnerable amid intensifying competition for deals in Japan.
Wall Street was set for a flat to higher open on Thursday after Texas Instruments raised its earnings forecast and data showed the number of people filing claims for jobless benefits fell last week.
Stock futures edged up on Thursday after data showed the number of workers filing new claims for jobless benefits fell last week.
Former Morgan Stanley managing director Du Jun was found guilty of insider trading by a Hong Kong court on Thursday, in the city's highest-profile insider trading case.
Stock index futures pointed to a flat open on Thursday, a day after the S&P 500 benchmark index racked up its highest closing level for the year, while investors awaited data on the labor market.
Stock futures were weaker on Thursday, easing after the S&P 500 benchmark index racked up its highest closing level for the year, while investors awaited data on the labor market.
Another Lehman?; Opel Decision Day Arrives; Books Competition
U.S. stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.27 percent, Dow Jones futures up 0.24 percent and Nasdaq 100 futures up 0.21 percent at 4:46 a.m. EDT.
A Connecticut court ordered UBS to pledge assets or post a $35 million bond after finding probable cause that the bank committed securities fraud in a deal with Pursuit Partners, the hedge fund's lawyers said on Wednesday.
The price of gold could rise as high as $1,600 an ounce as investors opt for assets with lasting value rather than volatile currencies, says one hedge fund manager who has increased his exposure to the precious metal.
Six companies are scheduled to price and begin trading the week of Sept. 21, which could become the busiest for U.S. initial public offerings since December 2007.
North American companies are flocking to sell shares this week, signaling to some investors the U.S. stock market may be close to sputtering after a long rally.
Bank of America Corp shot back at New York Attorney General Andrew Cuomo, saying he is simply wrong to claim that the bank is hindering an investigation into its takeover of Merrill Lynch & Co.
Half of Federal Reserve districts saw evidence the U.S. economy had improved by the end of August, although labor markets remained weak and retail sales were flat overall, a Fed report said on Wednesday.
Half of the Federal Reserve's 12 districts saw evidence the U.S. economy had improved by the end of August, although labor markets remained weak and retail sales were flat, a Fed report said on Wednesday.
Half of the Federal Reserve's 12 districts saw evidence the U.S. economy had improved by the end of August, although labor markets remained weak and retail sales were flat, a Fed report said on Wednesday.
