courtesy of General MotorsLess than two weeks ago, a possible sale of Ally Financial Inc.’s international auto lending business to General Motors Co. (NYSE: GM) was just a rumor. Late Wednesday, when most of…
ThinkstockWhen we look at the most recent findings from the World Gold Council (WGC), the most obvious take is that ETFs and India keep gold demand higher in the third quarter of 2012. But…
ThinkstockRichmond Fed President Jeffrey Lacker is speaking this morning at the Shadow Open Market Committee Symposium in New York ahead of Ben Bernanke’s speech. While we are operating under the belief that the new…
ThinkstockThe Federal Reserve has been aiming all it can to keep the economy going. If you have been following Fed policy for years it is fairly amazing to watch. That is true even if…
Wikimedia CommonsYou cannot regulate what you cannot see. That is the Financial Stability Board’s (FSB) position on shadow banking, which has grown into a $67 trillion business. But, seen or unseen, the sector may…
ThinkstockIn an announcement that was telegraphed last week, the U.S. Securities and Exchange Commission (SEC) said today that JPMorgan Chase & Co. (NYSE: JPM) subsidiary J.P. Morgan Securities will pay $297 million to settle…
ThinkstockThe time has come to “stress test” America’s largest banks again. Nineteen financial firms will take part. The Federal Reserve has released guidelines for the tests. Some could make bank executives shiver. The Fed…
ThinkstockThe Minutes of the Federal Open Market Committee from October 23–24, 2012 have been released. s we saw from Vice Chair Yellen yesterday, it sure seems as though some changes are going to be…
ThinkstockUsually all you see is a ratings downgrade and an affirmed “negative outlook” when it comes to the sovereign credit ratings of Portugal, Italy, Ireland, Greece, and Spain. That is not the case today.…
ThinkstockWhen Vikram Pandit abruptly left Citigroup Inc. (NYSE: C) last month, the story was that it was his decision to do so. Maybe, but Pandit’s missteps over the years did not leave him with…
ThinkstockMBIA Inc. (NYSE: MBI) has tanked after Bank of America Corp. (NYSE: BAC) has tendered for the 5.70% MBIA notes due in 2034. The bank is asking note holders to sell their 2004 MBIA notes to BofA…
thinkstockWith 451 of the companies included in the S&P 500 index having reported quarterly earnings already, Standard & Poor’s Capital IQ unit reports that index growth is up 2.3% compared with the third quarter…
ThinkstockIn an exclusive report published late Friday, Reuters said that Ally Financial Inc. is near a deal to sell its automobile financing operations in Europe and Latin America for a price of about $4…
ThinkstockIn one of the odder acquisitions we’ve seen recently, diversified holding company Leucadia National Corp. (NYSE: LUK) today announced that it has agreed on a merger with investment bank Jefferies Group Inc. (NYSE: JEF).…
ThinkstockING U.S. Inc. is filing for an initial public offering. The financial giant has hired Morgan Stanley and Goldman Sachs as the initial underwriters. No terms have been set other than that the initial…