Thursday's decision by the 2nd U.S. Circuit Court of Appeals in New York could subject banks to a wider array of claims by mortgage securities investors, by letting them sue over securities in which they did not specifically invest themselves.
Hey Bob Dylan fans: Are you tired of investments that leave you "Tangled Up in Blue"? Well, get ready to stop singing those "Subterranean Homesick Blues": Soon you'll be able to invest in the tambourine man himself.
Tax havens are big news in the U.S., but a recent study shows that, when it comes to offshoring cash to dodge taxes, Americans are amateurs. Globally, tax havens are used to hide an estimated $21 trillion, more than the entire U.S. GDP.
Is Wall Street playing fast and loose with the rules? Responses vary depending on whom you ask. But ask the folks who work in the financial services industry and you'll get a surprisingly clear answer: "Yes."
In the past, Chick-fil-A has tended to hedge its position on gay marriage rather than risk offending patrons of its 1,600 fast-food chicken restaurants. That's become more difficult now.
Rajat Gupta, a consummate business insider who once sat on the board of Goldman Sachs Group, was convicted on Friday of leaking secrets about the investment bank at the height of the financial crisis. He faces up to 25 years in prison.
Just how much do people hate Goldman Sachs? Here's a hint: The investment banker announced Thursday that it intends to invest $40 billion in developing clean, renewable energy projects. Critics immediately accused Goldman of cynical media manipulation.
At Goldman Sachs annual shareholders' meeting on Thursday, CEO Lloyd Blankfein mixed it up a bit with a shareholder representative of the Almighty. And it wasn't the first time he's had a little trouble from the brides of Christ.
Not much, and the jokes on you if you think otherwise. As the Facebook IPO makes abundantly clear, ordinary investors need to stop counting on Wall Street to look out for them.
JPMorgan Chase stock lost more than 8% of its value Friday after the bank, the largest in the United States, revealed a monster $2 billion loss in a trading group that manages the risks the bank takes with its own money.
It's widely known that millionaires and billionaires pay taxes at a lower rate than those of us who make much less. But did you know that Americans collectively pay far higher income tax rates than many U.S. companies with billions of dollars in profits?
It's unlikely that random people will just give you the money you need to float you through your ordinary fiscal troubles. But they might make you a loan. Peer-to-peer lending, where borrowers bypass big banks and get loans directly from other individuals, is getting bigger all the time.
In contrast to the many U.S. companies we should view with pride, some have behaved in ways that are downright evil. For their exploitative behaviors, these companies (and one whole industry) have earned their seats on the corporate netherworld's board of shame.
As earnings reports for the first quarter roll in, U.S. companies are beating the estimates of analysts at a rate not seen in more than a decade. Yet stocks have languished. The S&P 500 has fallen about 2% in April. So why aren't investors impressed?
Let's go over some of the items that will help shape the week that lies ahead on Wall Street: smartphones and software, discount brokers and airbeds, and would you like a side of fries with that?
Recent stress tests on America's big banks reveal that the financial crisis is far from over. While the "too big to fails" are in better shape than they were in 2008, there's still "room for improvement at virtually every firm."
Last week's broadside from an ex-employee didn't help Goldman's image, but all the to-do ignored the public's real issue with the firm.
Over the past couple of weeks, with little fanfare, three small brokerages bit the dust due to a dearth of trading activity on the stock markets and a lack of capital in-house. This may not matter much, but it could be the beginning of a wave of failures on Wall Street.
There's never a dull moment on Wall Street, especially now that we're hitting 2012's first earnings season. What will help shape the week that lies ahead? Earnings and answers from banks, Google, eBay and IBM, and a big education related announcement from Apple.
Sell-side analysts are often criticized for acting too slowly when it come to downgrading companies and lowering estimates. That means if you rely on the experts, you'll be reacting late too.
The biggest bank in America isn't the one you might think: JPMorgan Chase recently knocked longtime rival Bank of America out of the top spot. But is bigger better? Not when it comes to customer service.
With unemployment still high, late mortgage payments rising, and the number of Americans in poverty at record levels, it seems that Main Street is headed for a hard, cold holiday season. But, somewhat surprisingly, so too are the fat cats of Wall Street -- relatively speaking.
At 89, Betty White is America's sweetheart. This elder stateswoman of show business was recently named the country's most trusted celebrity -- and she's just thrown her prestige behind William Page and Associates' "life settlements."
The U.S. stock market's recent gyrations have many investors ready to look overseas for better returns. But it's a complicated world out there, which is why many less-experienced investors are still sitting on the global sidelines. Here's what you need to know make investing in emerging markets a little less scary.
In a cost-cutting move, Swiss banking giant UBS announced that it would trim 3,500 people from its workforce. Most of the cuts, which are expected to save $2.5 billion in annual costs, will be in the firm's underperforming investment banking unit. It's the latest in a string of big bank layoffs. Who could be next?
Goldman Sachs reported second quarter earnings of $1.09 billion, or $1.85 per share -- results that are below expectations. While still the most venerable Wall Street Bank, Goldman's quarterly earnings underline a key trait of the investment banking industry: Results can be exceedingly volatile.
It took a while -- three years, really -- but Citigroup, by far the weakest of the big banks coming out of the recession, is starting to pull through. After this morning's second-quarter earnings report of $3.3 billion, or $1.09 per share, investors have several things to rejoice over.
The theme for Thursday is big players adjusting to a changing world: Citigroup is shutting down a major hedge fund it used for soon-to-be-banned proprietary trading, Goldman has been subpoenaed over its role in the subprime mortgage crisis, and OPEC is thinking that it might need to pump more oil.
Goldman Sachs' earnings fell 72% in the fourth quarter due to sharp declines in its bond trading and investment banking businesses. The company earned $2.23 billion after paying preferred dividends, down from $4.79 billion in the same period year earlier.