Wall Street faces a historic shake-up next week as General Motors, a pillar of American industry, heads into bankruptcy, but the market could advance further if economic data signals the worst of the recession has passed.
The Agricultural Bank of China is set to open in New York and London, building a round-the-clock commodity trading team and taking global Beijing's ambition to be a major force on commodity markets.
Toronto-Dominion Bank's investment management unit said it plans to terminate three mutual funds, citing reduced investment opportunities and falling client demand due to changes to the tax-treatment of income trust securities.
Stocks were poised for a higher open on Friday after government data hinted the recession may be abating, putting the S&P 500 on pace for its third straight monthly gain, its longest streak since late 2007.
Stock index futures pointed to a higher open on Wall Street on Friday ahead of another round of key economic data, putting the S&P 500 on pace for its third straight monthly gain, its longest streak since late 2007.
World stocks closed in on a new high for the year and the dollar sank toward a five-month low against major currencies on Friday on hopes that the global economy has seen the worst days of its downturn.
Merrill Lynch’s energy trading operations in Houston are having a switch in some key trading positions, Bloomberg reported on Thursday.
Top bond-fund manager Bill Gross warned of a slow U.S. recovery in coming years and said investors would do best aiming for modest returns.
There are green shoots, but not much more.
Target Corp shareholders reelected its four incumbent directors, the retailer said on Thursday, dealing a defeat to activist investor William Ackman, who launched a heated proxy contest seeking five seats on its board.
Bank of America Corp said on Thursday it may swap 200 million common shares for existing preferred stock, moving it more than $2 billion closer to plugging a $33.9 billion capital shortfall.
Bill Ackman, the biggest shareholder in bankrupt mall operator General Growth Properties Inc , said he could gain 13 times his investment in a company he called high quality after it is reorganized.
Procter & Gamble forecast fiscal 2010 earnings way below Wall Street estimates, as it invests in international markets and new products, but the shares were unchanged as analysts recognized it as a sign of future growth.
Procter & Gamble forecast fiscal 2010 earnings way below Wall Street estimates, as it invests in international markets and new products, but its shares fell only slightly as analysts said the investments were needed for future growth.
Stock index futures pointed to a higher open on Wall Street on Thursday after key government data indicated the recession may be abating while investors eyed a looming bankruptcy for General Motors.
Stock index futures pointed to a higher open on Wall Street on Thursday ahead of key U.S. durable good orders and new home sales data, while the market eyed General Motors as it slid closer to bankruptcy.
Stock index futures pared gains on Thursday, after the release of an outlook by Dow component Procter & Gamble , and ahead of key U.S. durable good orders and new home sales data.
Citigroup Inc is in early negotiations with the U.S. Securities and Exchange Commission to settle a probe into whether it misled investors by not properly disclosing the amount of troubled mortgage assets it held as the markets started to fall in 2007, the Wall Street Journal said, citing people familiar with the matter.
Prominent hedge fund firm Pequot Capital told investors on Wednesday it will shut down amid an ongoing government probe into possible insider trading.
Prominent hedge fund firm Pequot Capital told investors on Wednesday it will shut down amid an ongoing government probe into possible insider trading.
The founder of Pequot Capital Management Inc says the fund firm will shut down due to an investigation into the firm’s activities, according to a letter to clients published in media reports Wednesday.
Major U.S. equity indexes were little changed on Wednesday after investors digested a key report on the housing market, though the Nasdaq rose on a semiconductor licensing agreement.
