financial

From Colorado Springs: Lessons for America's Budget-Cutters

Some communities question if they can function along the Spartan economic guidelines touted by Tea Party activists. One place those municipal leaders might want to examine is Colorado's second-largest city. It's a laboratory in draconian fiscal conservatism.

CEO Departures in November Fall to Year's Lowest Level

Though the job market remains challenging, for one group, the labor market was at its steadiest of the year last month. The number of chief executives departing their jobs fell to 79 in November, the lowest monthly number of 2010, according to job-services firm Challenger, Gray & Christmas.

More People Repaid Credit Card Debt in October

U.S. credit card delinquencies fell in October to the lowest levels of the year as more people were able to restart payments on their consumer debt, The Wall Street Journal reported, citing company filings.

Morgan Stanley Earnings Preview: Profits Will Fall

Morgan Stanley is expected to report sharp declines in third-quarter earnings and revenue ahead of Wednesday's opening bell, hurt by months of weak trading activity. The financial giant is forecast to post earnings of 15 cents a share, less than half the 38 cents a share booked a year ago.

Goldman Sachs Earnings: Expect Lower Profits

Goldman Sachs is expected to report a sharp drop in third-quarter earnings before Tuesday's opening bell, due to a decline in trading activity in a market that's been light on volume and volatility for months. Goldman is forecast to report adjusted earnings of $2.28 a share.

2010 U.S. Budget Deficit Comes in Below Expectations

Investors received another sign Friday that the U.S. economy is continuing to heal: The 2010 U.S. budget deficit came in at a smaller-than-predicted $1.29 trillion. Though it was still the second-highest deficit on record, the numbers reflect growth in tax revenues, and thus in the economy.

HSBC in Talks to Buy Controlling Stake in South Africa's Nedbank

British bank HSBC (HBC) is in talks to buy a controlling stake in Nedbank, South Africa%u2019s fourth-largest bank. HSBC is in talks with insurer Old Mutual, which currently owns the stake, BBC News reported. HSBC is aiming to acquire as much as 70% of Nedbank in a deal worth as much as 49.9 billion rand ($6.8 billion).

Goodbye Credit Cards, Hello Smartphones

The smartphone revolution is about to upend another business: credit card processing. With Google's new Android app that allows you to literally pay by phone, and Square's new hardware that turns any iPhone into a transaction processor, your plastic could become obsolete.

U.K. Budget Would Levy New Tax on Banks, Hike VAT

In laying out a new budget to tackle Britain's fiscal mess, newly appointed Chancellor of the Exchequer George Osborne has proposed a multibillion-pound bank levy, which will apply to the balance sheets of U.K. banks, as well as a hike in the value-added tax.

Enron Hits Broadway: Story More Timely than Ever

Enron, a musical hit about the Texas energy company's dizzying rise and fall, is coming to Broadway. The story of high finance and fraud unfolded nine years ago, but in an economy still reeling from the Lehman Brothers collapse, it's lessons are more relevant -- and funnier -- than ever.

Markets Rebound in Late Trading

Stocks gained ground Monday as investors shrugged off concerns about a Fed meeting on interest rates and declining oil prices.

The Week in Preview: Financial Earnings to Dominate

Earnings from the financial sector are due out this week. Analysts surveyed by Thomson Reuters anticipate fourth-quarter earnings growth from American Express Co. (AXP), Bank of New York Mellon Corp. (BK), Hudson City Bancorp Inc. (HCBK), SLM Corp. (SLM) and US Bancorp (USB). Find out what analysts expect.