Just like Citigroup, it adjusted its reported earnings because of an investigation into its foreign exchange business. The charge turned Bank of America’s $168 million profit for the quarter into a $232 million loss.
The company disclosed that the adjustment to earnings was due to “rapidly-evolving” investigations, including “very recent” communications with regulators.
While US markets almost recovered from a steep drop today, investors all over the globe are freaking out about economic growth.
With volatilty at record lows and fixed income revenue dropping across Wall Street, bank executives say there may be some light at the end of the tunnel.
Citigroup sees a $10 billion market in four years. Dumb watches keep selling too.
Yet another ding for big banks from regulators and law enforcement for their off-exchange trading venues.
Citi barely ekes out a second-quarter profit of $181 million, after a $3.8 billion charge to help pay its settlement over mortgage-backed securities sold before the financial crisis.
Think Ali Rowghani’s abrupt and unceremonious dismissal from Twitter this week was bad? Check out these brutal executive ousters.
The 2011 opinion helped spark a change in SEC policy in dealing with corporations and made Jed Rakoff one of the most famous judges in the country, but an appeals court panel said he had applied “an incorrect standard of legal review.”
Gary Cohn, Goldman’s president and chief operating officer, said at a conference today that the market rather than the bank was to blame for its sagging trading profits
He bet his career on acquiring rival record label EMI in 2011, and now that deal is paying off big time.
Vera Bradley, TJX, and American Eagle will be impacted the most based on their store count in the Northeast and Midwest, Citigroup analysts say.
With its legal costs potentially subsiding and the U.S. economy growing, the beleaguered banking giant might have a chance.
A new report by Citigroup highlights how web-based video is consumed across the globe, and the opportunities and challenges it presents to established TV players.
Total video ad views grew 31% in the third quarter, Citigroup analysts said in a note today.
That’s one driver of growth for the diamond market, Citi analysts say.
Now that SAC Capital is facing a steep penalty of nearly $2 billion, these other white collar offenders are probably counting their pennies and breathing a (slight) sigh of relief.
Citigroup reiterated its belief in a U.S. “whiskey revolution” and “bourbon renaissance” today, even as Beam Inc. grapples with slower growth in Pinnacle vodka and the Skinnygirl brand.
Consumers are spending big on cars, housing, e-commerce, appliances and home projects (“C.H.E.A.P.”) at the expense of new clothes and electronics, according to Citigroup.
The Urban Outfitters-owned brand’s performance is improving after lowering prices and adding more home goods, according to a Citigroup research report.
Financial analysts are typically non-confrontational. But then there are those who sit on a spectrum ranging from brazen to irresponsible to criminal.
Split dividends? Some conditioner will clear that up.