With the smell of fat bonus checks again wafting down Wall Street, the Obama administration and Democrats in Congress on Thursday moved closer to a clampdown on U.S. corporate executive pay.
U.S. lawmakers on Thursday ripped into former Treasury Secretary Henry Paulson over the government's role in Bank of America's merger with Merrill Lynch and other actions to cope with the deep financial crisis that gripped the country last year.
JPMorgan Chase & Co said record investment banking and trading results drove quarterly profit 36 percent higher, topping Wall Street forecasts, but reported a surge in consumer credit losses that foreshadows deeper problems on Main Street.
U.S. lawmakers on Thursday slammed former Treasury Secretary Henry Paulson over the government's role in Bank of America's merger with Merrill Lynch, saying authorities suppressed information about losses and bullied executives into going through with the deal.
U.S. stocks rose on Thursday, as investors anticipated another round of strong corporate earnings, sending technology shares higher ahead of quarterly results from IBM.
Near-zero U.S. interest rates forced Charles Schwab Corp to slash the asset management fees it charges clients, weighing on its profit -- and much more slashing is expected before year end.
The receiver charged with marshaling assets of accused swindler Allen Stanford said in court papers on Thursday he needs the help of a private equity adviser to manage the estate's web of investments which total about $650 million.
General Motors GMGMQ.PK will have a hard time overcoming Germany's resistance to a financial investor if it wants to sell Opel to RHJ (RHJI.BR) in the hope that it could later buy its European carmaker back.
Former U.S. Treasury Secretary Henry Paulson said on Thursday before lawmakers that he saw no evidence of any illegal actions as he testified on Capitol Hill over the government's role in Bank of America, Merrill Lynch merger. In prepared remarks submitted to the panel, he says he acted appropriately in December when Charlotte-based BofA threatened to back out of the deal.
Apollo Commercial Real Estate Inc has filed an application to raise up to $600 million in an initial public offering and plans to invest in commercial mortgage-backed securities with part of the proceeds, according to a regulatory filing.
Investment banking revenues may be driven in coming quarters by mergers and acquisitions (M&A) and equities, as the high-grade fixed income boom draws to a close, Credit Suisse analysts said on Thursday.
Stocks opened lower on Thursday as investors turned cautious following a jump in quarterly profit at JPMorgan Chase & Co and a steep fall in jobless claims, a day after Wall Street tallied its biggest three-day gain since March.
JPMorgan Chase & Co posted a higher quarterly profit on Thursday, topping Wall Street estimates, as strength in its core consumer and investment banking businesses offset a jump in credit losses.
JPMorgan Chase & Co said record investment banking fees helped drive a 36 percent rise in quarterly profit, topping Wall Street forecasts, but warned that credit quality in consumer mortgages and credit cards is deteriorating faster than it expected.
Stock index futures pointed to a mixed open on Thursday as investors turned cautious following a jump in quarterly profit at JPMorgan Chase & Co and a steep fall in jobless claims, a day after Wall Street tallied its biggest three-day gain since March.
Stock index futures slipped on Thursday as a jump in quarterly profit at JPMorgan Chase & Co was overshadowed by investor angst about the future of lender CIT Group Inc and caution ahead of a key report on the labor market.
Jobless claims, JPMorgan results Paulson on the Hill, Earnings continue
JPMorgan Chase & Co said investment banking and trading drove a larger-than-expected 36 percent jump in quarterly profit despite a surge in credit card and loan losses that could worsen.
Stock futures were little changed on Thursday as a jump in quarterly profit at JPMorgan Chase & Co was overshadowed by investor angst about the future of lender CIT Group Inc and caution ahead of a key report on the labor market.
JPMorgan Chase & Co
JPMorgan Chase & Co
JPMorgan Chase & Co posted a higher quarterly profit on Thursday, topping Wall Street estimates, as strength in its core consumer and investment banking businesses offset a jump in credit losses.
