Equity sales, underwriting and wealth management helped power Morgan Stanley to a 42 percent jump in second-quarter profit, the firm announced on Thursday, continuing a streak of better-than-expected results from Wall Street investment banks.
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JPMorgan Chase, a firm whose reputation in Washington has eroded in a matter of months, is now moving to avert a showdown over accusations that it manipulated energy prices.
The Securities and Exchange Commission has obtained a $13.9m penalty against former Goldman Sachs board member Rajat K. Gupta for illegally tipping corporate secrets to former hedge fund manager Raj Rajaratnam.
Barclays has pledged to fight a $470m (£300m) penalty for allegedly manipulating electricity prices in California by taking the case through the US judicial system.
Options were active in the financials yesterday, and trading in Bank of America was red hot.
A former IT analyst from banking group HSBC who provided prosecutors with data on thousands of accounts said in an interview he hoped a Franco-Spanish tax avoidance probe would widen to other countries.
The latest report from the U.K.'s Office of Budgetary Responsibility (OBR) showed that despite the "austerity rhetoric", the government is nowhere near its deficit reduction targets, one analyst said on Wednesday.
Who would have thought that the market mover would be Mr. Bernanke's written testimony at 8:30 a.m. ET, and that the Q&A would elicit a yawn? But that's exactly what happened.
Canadian Imperial Bank of Commerce has made two key executive changes within its wholesale banking business as Canada's fifth biggest bank further consolidates under Chief Executive Victor Dodig.
Shares in CITIC Securities, China's biggest brokerage, fell on Wednesday after the company said some senior managers are under police investigation as part of a probe by Beijing into possible market manipulation linked to the slump in its stock markets.
Royal Bank of Scotland, Britain’s largest taxpayer-owned bank, is unlikely to pay a dividend before it can show regulators two years of profit, Berenberg said.