Paulson, the former chairman of the investment bank Goldman Sachs Group Inc., wants to streamline the regulatory system through steps such as merging the Securities and Exchange Commission and the Commodity Futures Trading Commission and incorporating the functions of the Office of Thrift Supervision into the office of the Comptroller of the Currency. But while [...]
A number of shareholder suits are expected to continue, possibly for years, but effective control passing to JPMorgan is all but assured. The New York-based investment bank, formerly a rival to Bear with some overlapping areas of business, is using New York Stock Exchange rules that allow it to purchase up to 40 percent of [...]
By George Chen
SHANGHAI (Reuters) - CITIC Securities (600030.SS: Quote, Profile, Research) said on Saturday it might not proceed with a deal to invest about $1 billion in Bear Stearns (BSC.N: Quote, Profile, Research) because of the U.S. investment bank’s financial crisis.
China’s largest listed brokerage said it would “conduct an overall evaluation” [...]
ZURICH, March 19 (Reuters) - Swiss shares are set to rise on
Wednesday, in line with other bourses, after the Federal Reserve
cut interest rates and two major investment banks beat
expectations with their results.
The Swiss blue-chip index SMI.SSMI was indicated to open
126 points higher at 7,140 points, data provided by bank
Clariden [...]
By Dan Wilchins
NEW YORK (Reuters) - Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research)
said on Tuesday its first-quarter earnings dropped 57 percent
as it wrote down bonds, but its shares surged after the bank
said it has more than enough capital to do business in the
current environment.
Lehman’s better-than-expected results, helped [...]
NEW YORK (Reuters) - Investment banks Goldman Sachs Group Inc (GS.N: Quote, Profile, Research), Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research) and Morgan Stanley (MS.N: Quote, Profile, Research) are testing a new program that allows investment banks to borrow directly from the Federal Reserve, according to people at the banks.
In [...]
By Svea Herbst-Bayliss and John Poirier
BOSTON/WASHINGTON (Reuters) - The U.S. Federal Reserve or
another new agency should be given the power to monitor all
risk in the financial system and act when necessary, a powerful
Democratic lawmaker said on Thursday.
“Congress should seriously consider establishing or
empowering the Federal Reserve to act as [...]
NEW YORK (Reuters) - Shares of Merrill Lynch %26amp; Co Inc
(MER.N: Quote, Profile, Research) rose nearly 6 percent on Thursday morning amid rumors
the largest brokerage in the world was looking to sell off
assets.
Selling assets could shore up Merrill Lynch’s balance
sheet, which would please investors shaken by a recent run [...]
NEW YORK (Reuters) - U.S. investment banks Goldman Sachs
Group Inc (GS.N: Quote, Profile, Research), Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research) and
Morgan Stanley (MS.N: Quote, Profile, Research) are testing a new program that allows
investment banks to borrow directly from the Federal Reserve,
according to people at the banks.
In a [...]
By Jonathan Stempel and Dan Wilchins
NEW YORK (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) is cutting about 2,000 more investment banking and trading jobs, a person briefed on the matter said, as the largest U.S. bank moves to lower costs after subprime mortgage and credit problems led to a record [...]
