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Stock Market & Financial Investment News

News For JPM;BAC;GS;C;USB;MS;WFC From The Last 14 Days
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June 19, 2015
05:54 EDTBACRBS looks to hire banker who had worked on ABN deal, Financial Times reports
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June 18, 2015
15:46 EDTWFCWells Fargo names Hope Hardison as Chief Administrative Officer
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12:04 EDTBACActive options: AAPL ORCL FB RAD BAC HTZ MU GE TSLA AMZN BABA KO
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10:01 EDTUSBOn The Fly: Analyst Initiation Summary
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07:37 EDTMSNoranda Aluminum to evaluate strategic alternatives, suspends dividend
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07:08 EDTUSBU.S. Bancorp initiated with an Equal Weight at Stephens
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06:36 EDTGS, BACGoldman tells interns not to stay in office overnight, Reuters reports
Goldman Sachs (GS), which has been looking to improve working conditions for its investment-banking interns, has set new guidelines, under which interns are expected to stay away from the office between midnight and 7 a.m. during weekdays, Reuters reports, citing company sources and confirmed by a Goldman spokesperson. Following the 2013 death of a Bank of America (BAC) intern in London, Goldman and other banks have taken steps to encourage its junior employees to take time off. Reference Link
06:21 EDTGSFour banks to pay nearly $1B to settle forex rigging suit, AFP reports
Goldman Sachs (GS), BNP Paribas (BNPQY), Barclays (BCS), and HSBC (HSBC) have all reached separate agreements to settle a U.S. civil lawsuit over alleged foreign exchange rigging in deals totaling approximately $1B, AFP reports, citing sources close to the situation. The agreements are preliminary and are subject to change, the sources told AFP, confirming an earlier report on the settlements from the Wall Street Journal. Barclays is expected to pay $375M, HSBC $285M, BNP Paribas roughly $200M, and Goldman Sachs about $130M, the report says.The four banks' pending agreements would settle the civil lawsuit filed by Scott & Scott and Hausfeld that claims their traders manipulated the forex market to boost the banks' profits, AFP reports. Reference Link
06:01 EDTGSBanks to settle civil forex lawsuit for nearly $2B, WSJ reports
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June 17, 2015
17:37 EDTMS, GSGM hires advisers as Fiat Chrysler tries to force merger talks, Reuters says
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15:04 EDTWFCGE Capital Real Estate closes nearly $10B in deals towards exit
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14:55 EDTJPMJPMorgan announces unexpected death of Vice Chairman Jimmy Lee
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14:42 EDTBACOption volume leaders
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11:25 EDTUSBU.S. Bancorp receives $55M in tax credit allocation
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11:16 EDTC, BAC, WFC, JPMOCC restricts some banks from certain mortgage related business activity
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11:07 EDTWFCWells Fargo issues statement on amended OCC Consent Order
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09:40 EDTBACActive equity options trading on open
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09:36 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB AMD ADBE TWTR BABA QIHU NFLX BAC
08:10 EDTBACFed told BofA it is too reactive to problems raised by regulators, WSJ says
The Federal Reserve told Bank of America earlier this year that it does not think its management is forward-looking enough and is rather too reactive to problems after they are raised by regulators during “stress tests,” the Wall Street Journal reports, citing people familiar with the matter. As a result, in March, the Fed only granted the bank conditional approval to return capital to shareholders, meaning the bank is required to submit a revised stress test plan by September 30, the report says. In response, Bank of America has hired “several” outside consultants to look over the way it runs the tests, the Wall Street Journal reports, citing others close to the situation. Reference Link
07:06 EDTMSNoble CEO fires back at critics of company’s accounting practices, WSJ says
Noble Group (NOBGY) CEO Yusuf Alireza disputed allegations about the company’s accounting practices, particularly that it is hiding the true nature of its debt and improperly valuing its 13% stake in Australian coal miner Yancoal, the Wall Street Journal reports. In a letter to former longtime Morgan Stanley (MS) banker Michael Dee, Alireza said that the company’s evaluation of Yancoal is “reasonable and consistent with market practice and accounting policies” and that “any suggestion otherwise is ill-informed and factually incorrect,” the report says. “As an associate company, we must rely on a cash flow model to value our stake, which is consistent with market practice in the mining industry,” the Noble CEO added, the report says. Reference Link
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