Rochdale Securities analyst Richard Bove has a note out this week, pointing out that US lawmakers / regulators have made it clear by their actions that the United States just doesn't want big banks, as they are 'not good for the country, its economy, or the financial system'.
Citi CEO Vikram Pandit is to get a final payment of some $80m into his bank account soon. The funds represent the last of the money due to him for Citi's 2007 acquisition of his hedge fund Old Lane Partners (since closed). The Citi boss has already received $85m in respect of the purchase.
Here's 13 of the biggest US bankruptcies.
Zurich / Basel - The Board of Directors of UBS AG will nominate Axel Weber for election to the Board at the Annual General Meeting on 3 May 2012.
We're starting to get a bit more clarity on industry job cuts now, but firms are still culling around the edges. No major job losses have been announced so far.
Here's the latest UK e-mail viral sensation.
Now this did crack us up.
Washington, D.C. - The Securities and Exchange Commission has charged Raymond James & Associates Inc. and Raymond James Financial Services Inc. for making inaccurate statements when selling auction rate securities (ARS) to customers.
The different approaches taken by European and US regulators has created an unlevel playing field in financial services, putting European banks at a competitive disadvantage when attempting to attract high performing staff, says a new survey report by Mercer.
London - IntraLinks, a leading provider of critical information exchange solutions, and mergermarket, an independent M&A intelligence service, have announced the results of the UK Young Dealmakers of the Year Awards.
America’s fracking revolution is becoming a victim of its own success. The controversial boom in shale gas and oil has driven the US economic recovery and helped lower world crude prices. But a price plunge from $115 (£75) a barrel last June to just above $50 last week means many shale operations no longer pay.
Modern-day capitalism has no shortage of heavyweight scholars - names such as Milton Friedman, Adam Smith, Friedrich von Hayek and Murray Rothbard are among the most prominent names that surface among free market thinkers. Yet the person most frequently evoked by proponents and detractors alike was neither a trained economist nor a traditional businessperson.
Morgan Stanley co-head of mergers and acquisitions for EMEA Johannes Groeller is to join Paul Taubman's advisory boutique, a source familiar with the move has told Reuters.