Dec 14, 2012 The Swiss banking giant UBS is reportedly headed for a $1 billion settlement over accusations it rigged LIBOR interest rates -- the benchmark for global lending.
Dec 13, 2012 European finance ministers struck a major new deal over their debt crisis. They agreed that the European Central Bank -- Europe’s equivalent of the Fed -- should take over the supervision of the continent’s biggest banks.
Dec 5, 2012 This morning Citi says that total is about to shrink -- 11,000 job cuts worldwide in the next year or two, some of them at least here in the U.S.
Oct 23, 2012 Restrictions on the sale of Facebook stock by the social media firm's employees end this week, meaning many of them will be millionaires, not just millionaires "on paper." But the sale will likely drive the stock price down.
Oct 19, 2012 Yesterday Google accidentally fired off its earnings announcement three hours ahead of schedule and profits fell quite short of expectations.
Oct 18, 2012 Google's quarterly earnings report was mistakenly released while markets were open, instead of after. A 20 percent drop in profits, as prices of online and mobile ads decline, sent shares down immediately.
Oct 12, 2012 The financial sector is doing better than last year on a bumper mortgage business and lower loan-loss reserves.
Oct 11, 2012 Hit by new regulations and low interest rates, banks are likely to dip into reserves for bad loans again to boost third-quarter profits.
Oct 9, 2012 Goldman Sachs has long supported Democrats in the presidential contest. But not this year. Why Goldman and other Wall Street banks are throwing their support behind Mitt Romney.
Oct 9, 2012 The third-quarter earnings season kicked off today with an ominous warning about global growth from the IMF. A weak consolation for Americans is that we are the only major economy where the IMF expects decent growth in the next year.