Asian stocks rose on Monday on hopes for the global economy, with Taiwan shares hitting a near 7-month closing high, while oil prices slipped below $52 after a dramatic oil demand downgrade by the International Energy Agency.
UBS , the world's biggest wealth manager, said on Monday it expects growth in its Taiwan client assets to pick up in the second quarter as improved ties with China help boost investor confidence.
If Wells Fargo's strong first-quarter preliminary performance is any sign, stocks could rally further this week on any reassuring news when three other big banks post quarterly results.
If Wells Fargo's strong first-quarter preliminary performance is any sign, stocks could rally further this week on any reassuring news when three other big banks post quarterly results.
Swiss bank UBS will announce more job cuts soon, with staff in Switzerland and departments like marketing to be hit hard, newspapers reported on Sunday.
Swiss bank Credit Suisse has started closing down the offshore accounts of U.S. clients who have not declared the money to the U.S. authorities, a newspaper reported on Sunday.
BNP Paribas will abandon its attempts to buy the assets of Fortis if shareholders of the stricken Dutch-Belgian group reject the latest revised deal this month, BNP's chief executive said.
The U.S. Treasury and Federal Reserve Bank have asked top U.S. banks not to discuss the “stress tests” which regulators are conducting to determine the viability of the companies, according to reports.
A Belgian court ruled on Friday that all Fortis investors were eligible to vote on its break-up, boosting French bank BNP Paribas' chances of buying Fortis assets.
Buy-out houses are doing smaller deals, borrowing less money and are more involved in hands-on management, as the crisis pushes them back to the roots of their industry.
U.S. stocks typically rebound six months before the economy, but investors worry that the current 25 percent rally since the market's March 9 low could be a red herring.
HSBC Global Asset Management says it is finally seeing inflows into some of its hedge funds and believes it may have reached a tipping point after a tough period of client withdrawals.
Goldman Sachs Group Inc is considering making a multibillion dollar share offering to investors as part of its efforts to repay a $10 billion government loan, the Wall Street Journal reported citing people familiar with the matter.
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If Wells Fargo's upbeat first-quarter performance is any sign, Wall Street could rally further next week on any reassuring news from three other big banks due to post quarterly results.
Wells Fargo & Co said it expects to post a record $3 billion first-quarter profit, causing its shares to soar 31.7 percent and providing a welcome jolt to the stock market and a still-troubled banking sector.
Barclays Plc has agreed to sell its iShares asset management business to private equity firm CVC Capital Partners for 3 billion pounds ($4.4 billion), but kept the right to hunt for a better deal for two months.
Wells Fargo & Co said it expects to post a $3 billion first-quarter profit, sending its shares soaring, lifting a wide range of stocks, and providing a welcome jolt to the troubled banking sector.
Private equity house CVC Partners will pick up a rare commodity if it pulls off a purchase of Barclays' iShares exchange traded fund (ETF) unit, which analysts say has strong growth potential.
Wells Fargo & Co said on Thursday it expects to report net income of about $3 billion for the first quarter.
A pending asset sale and a clean bill of health from its financial regulator has calmed fears Barclays will need to raise cash, and backed up the bank's pledge to emerge as a victor from the financial crisis.
Sumitomo Mitsui Financial Group, Japan's third-largest bank, said it expects a full-year net loss of $3.9 billion and will sell shares to raise up to $8 billion, after being hit by losses on stock holdings and a deepening recession.
