A former UBS controller who oversaw profit and loss for ex-trader Kweku Adoboli’s desk 'signed off' on a request to temporarily suspend a $1bn trading loss in August 2011, a London jury was told Monday.
Goldman Sachs changed how it calculated year-end bonuses in 2005, corrupting a culture of teamwork that existed previously, according to a book published today by former employee Greg Smith.
Bank of America, the firm that got a $5bn boost from Warren Buffett last year, now has the 'top capital' among peers and is capable of paying a bigger dividend, said CEO Brian Moynihan.
There are rumblings on Wall Street that Citigroup may have pushed Vikram Pandit out of its C-Suite last week in part to make room for one of the biggest names of all: Tim Geithner.
FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that Securities and Exchange Commission (SEC) Chair Mary Schapiro is telling Wall Street executives she 'is likely to leave' her post, and that 'it’s a matter of timing'.
An advertisement by LG promoting the company's new IPS high-definition televisions features scenes in which unsuspecting elevator riders are scared by a floor that appears to disappear beneath them, only to find out the floor is actually composed of the television screens.
Saudi billionaire Prince Alwaleed bin Talal praised Vikram Pandit for his handling of the financial crisis while CEO at Citigroup, saying he helped position the bank for further growth.
Commerzbank is exploring the sale of its custodian business as CEO Martin Blessing reviews company strategy, according to people familiar with the matter.
Last March banker Greg Smith delivered a broadside to his former bosses at Goldman Sachs.
An article in the New York Times caught my eye.
Here's a topical letter to staff from Jefferies CEO Richard Handler.
If you thought all professional athletes did was make it rain, date models and drive around in fancy cars .... you'd probably be right.
Goldman Sachs has downgraded HSBC to neutral from buy because its decision to cut assets from its investment bank, without exiting underperforming businesses, will reduce revenue more than costs.