A team of hedge funds managers at Societe Generale is leaving to set up their own hedge fund with capital from the French bank, La Tribune reported on Tuesday.
About half a dozen investment managers have put forward bids, ranging between $400 million to $800 million, for troubled insurer American International Group's asset management business, the Wall Street Journal reported, citing people familiar with the matter.
U.S. stock index futures pointed to a lower open on Wall Street on Tuesday as investors braced for aluminum producer Alcoa's quarterly results that will kick-start a keenly awaited U.S. earnings season.
U.S. securities regulators will consider about 4 proposals to restrict short selling, a type of investing blamed for accelerating the severe downturn in financial services stocks.
U.S. securities regulators are crafting two types of 'circuit breakers' to restrict short selling, a type of investing often blamed by executives for declines in the stocks of their companies, a source familiar with the proposals told Reuters on Monday.
A group of investment bank underwriters and companies have agreed to a nearly $600 million settlement with investors to resolve litigation over alleged fraud in the pricing of initial public offerings in the late 1990s, according to a lawyer involved in the case.
Dell said Monday it has agreed to sell $500 million in notes due in 2014 with the largest bank in America serving as underwriters as shares gained 1 cent to close at $10.33 after analyst raise his share to a buy from neutral with price target of $11.40.
The United States and Switzerland will head back to the negotiating table to revise a 1996 bilateral tax treaty in an effort to cool a high-profile dispute between the two nations over banking secrecy laws, the U.S. Treasury said on Monday.
Merrill Lynch & Co, now owned by Bank of America Corp , agreed to pay $75 million to settle a class-action lawsuit by employees who lost money investing in Merrill stock through their retirement plans.
U.S. securities regulators charged a Toronto-based fund manager, who describes himself as the Chinese Warren Buffett and his hedge fund with operating a multimillion dollar investment fraud, the Securities and Exchange Commission said on Monday.
Cisco Systems said Monday it will be ‘active’ with acquisitions despite the economic downturn, but its shares were thrashed by downgrades.
New York's attorney general brought civil fraud charges against hedge fund operator Ezra Merkin on Monday, saying he duped investors by secretly steering $2.4 billion in client money into Bernard Madoff's Ponzi fraud.
Citigroup Inc named Michael Corbat permanent chief executive of Citi Holdings, a unit housing the Smith Barney brokerage and a variety of businesses and riskier assets that may be shed.
Private equity investors intend to continue making new investment in emerging markets despite the global economic crisis, a survey showed on Monday, seeing them as offering the only growth in a faltering world.
Congressman Dennis Kucinich on Monday asked the U.S. Securities and Exchange Commission to determine if Bank of America Corp violated federal securities laws by not disclosing Merrill Lynch & Co's plan to pay $3.62 billion of bonuses to top executives.
The U.S. Treasury on Monday extended the deadline for fund managers to apply to its toxic securities purchase program by two weeks and said it eased selection criteria for these firms.
Stocks slid on Monday, as bank shares fell after a widely-followed analyst recommended investors reduce or sell holdings of several large bank stocks, sapping recent optimism on the health of the financial sector.
Stocks slid on Monday, as bank shares fell after a widely-followed analyst recommended investors reduce or sell holdings of several large bank stocks, sapping recent optimism on the health of the financial sector.
Stocks slid further on Monday as concerns about the health of banking system diminished appetite for riskier assets and as billionaire investor George Soros said the banking system was basically insolvent.
Stocks futures pointed to a lower open on Monday, as bank shares fell after an analyst initiated coverage on several large banks with an underperform or sell rating, sapping recent investor optimism on the financial sector.
HSBC shares jumped over 5 percent on Monday after its massive 12.9 billion pound ($18.9 billion) rights issue received a robust response from investors, with leftover shares sold quickly.
HSBC shares rose over 4 percent on Monday after its massive 12.9 billion pound ($18.9 billion) rights issue received a robust response from investors.
