Michael Mayo, an analyst who has spent the past five years telling investors to sell Citigroup’s stock, reversed his stance after the board replaced Vikram Pandit as CEO Tuesday.
Barclays executive Tom Hamilton, who oversaw the second-ranked underwriter of structured-finance deals, is leaving his position.
FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that former Citigroup CEO Vikram Pandit’s job has 'been in jeopardy for months now', and that the resignation was spearheaded by 'an uprising on the board led by' Michael O’Neill and Diana Taylor over the $5bn Smith-Barney write-down that 'occurred two months ago'.
Marilyn Monroe has been dead for more than 50 years, but her image lives on and her estate made $27million last year, according to Forbes which placed her at number 3 on its 'Dead Celebrities Rich List in 2011', right behind Michael Jackson and Elvis Presley.
The Securities and Exchange Commission today charged a former $1bn hedge fund advisory firm and two executives with scheming to overvalue assets under management and exaggerate the reported returns of hedge funds they managed in order to hide losses and increase the fees collected from investors.
Bumi, the mining investment vehicle founded by Nat Rothschild, has widened its internal investigation into alleged financial impropriety to include possible email hacking and the origin of a whistleblower's report that first revealed the crisis at the FTSE-250 firm.
Citigroup paid a hedge-fund manager with a doctorate in finance more than $200m over five years to save the bank from the brink of collapse. Now it’s turning to a former Harvard football lineman to run it better.
Rajat Gupta, the ex-Goldman Sachs main board director who is set to be sentenced October 24th for insider trading, should be given probation and ordered to perform community service that could include either working with New York youth or the poor in Rwanda, his lawyer said.
A man has been arrested in New York for allegedly trying to blow up the Federal Reserve with what he believed was a 1,000lb bomb but was in fact a fake device provided by federal agents.
Like most Wall Streeters, Michael Corbat - the 52 year-old Connecticut native tapped on Tuesday to assume the reins of the troubled mega bank Citigroup - has an Ivy League pedigree and a background steeped in trading, corporate and investment banking.
Charter Communications confirmed Tuesday it would purchase Time Warner Cable for $55 billion in a deal that would merge the second and third biggest U.S. cable companies and create a larger rival to Comcast Corp .
Singapore's economy grew at a faster than expected pace in the first quarter than earlier thought, data showed on Tuesday.
The high-stakes game of brinkmanship between Greece and its creditors intensified on Monday after prime minister Alexis Tsipras convened an emergency meeting of his political negotiation team following a stark warning from Athens that default was looming.