The Australian unit of Swiss bank UBS AG thriving, even as its parent struggles in the global financial crisis, and has earned a reputation for snatching deals from rivals and making a success of them.
China's $200 billion sovereign wealth fund, which made big paper losses on stakes in Morgan Stanley and Blackstone, is set to invest up to $2 billion in U.S. mortgages as it eyes a property market recovery, two people with direct knowledge of the matter said on Monday.
The following is the text of a statement issued by the U.S. Federal Reserve and U.S. Treasury on Monday:
Stock index futures pointed to a steep fall at the open on Monday as global equities sold off after data from Japan showed that while the world's No. 2 economy returned to growth, a recovery may be shaky.
Stock futures slightly trimmed losses but still pointed to a steep drop at the open on Monday after a regional gauge of manufacturing suggested growth was returning to the sector.
Swedbank will raise 15 billion Swedish crowns ($2.1 billion) in a rights issue to boost a balance sheet hit by bad debts in the Baltics, the bank said on Monday, after saying in June it didn't need more capital.
Stock index futures slid about 2 percent on Monday as global equities sold off after data from Japan showed that while the world's No. 2 economy has returned to growth, a recovery may be shaky.
Kenneth Feinberg, the Obama administration's pay czar, said on Sunday he has broad and binding authority over executive compensation, including the ability to claw back money already paid, and he is weighing how and whether to use that power.
New York Attorney General Andrew Cuomo, probing illegal marketing and sales of auction rate securities , is likely to file a lawsuit on Monday against Charles Schwab Corp for civil fraud, the Wall Street Journal said, citing people familiar with the matter.
Gold slipped to its lowest since late July in Europe on Monday as the dollar firmed against a basket of currencies and as a 2 percent decline in crude prices dented the precious metal's appeal as an inflation hedge.
Stock index futures pointed to a sharply lower open on Wall Street on Monday, mirroring a selloff in Asian and European stocks on mounting worries equities' recent surge had run ahead of the global economic recovery.
Stock index futures extended their losses early on Monday, mirroring a selloff in Asian and European stocks on mounting worries the equities' recent surge had run ahead of the global economic recovery.
World stocks fell by more than 1 percent on Monday, led by sharp drops in Asia, while government bonds and the dollar rose as doubts about the strength of a global economic recovery triggered a risk asset sell-off.
New York Attorney General Andrew Cuomo, probing illegal marketing and sales of auction rate securities , is likely to file a lawsuit on Monday against Charles Schwab Corp for civil fraud, the Wall Street Journal said, citing people familiar with the matter.
U.S. banking regulators have asked prospective buyers of struggling Texas bank Guaranty Financial Group to submit bids by Monday, the Financial Times reported, citing people familiar with the matter.
The deal initialed last week between the United States and Switzerland over UBS will involve the disclosure of around 5,000 holders of secret Swiss accounts, weekly newspaper NZZ am Sonntag said on Sunday.
The deal initialed last week between the United States and Switzerland over UBS will involve the disclosure of around 5,000 holders of secret Swiss accounts, weekly newspaper NZZ am Sonntag said on Sunday.
Citigroup Inc says two of its traders are exempt from a government review of the bank's top executive pay packages, The New York Times reported on Saturday.
Mexico's Cemex, the world's No. 3 cement maker, said on Friday it finalized a $15 billion debt restructuring to avoid default and announced it could sell shares worth about $1.7 billion as part of the deal.
China's 12 joint-stock commercial banks posted net profit of 45.2 billion yuan ($6.6 billion) in the first half of this year, down 19.3 percent from a year earlier, the official Xinhua news agency reported on Saturday, quoting a banking regulatory official.
Hedge fund Citadel, which launched an investment banking group earlier this year, has hired a senior Citigroup Inc financial institutions investment banker, a source familiar with the matter said on Friday.
A group of Asian manufacturers filed court papers on Friday in an attempt to push U.S. women's apparel brand Ellen Tracy into bankruptcy.
