Finance Ministers Aim for EU Bank Supervision by 2013
The Europeans finally have agreed on something. There will be one bank supervisor for the region as early as next year. While the decision may be a step forward, it is not entirely clear…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 135France, Germany Fight Over Eurozone Budget Power
German Chancellor Angela Merkel and French President Francois Hollande met briefly today before a summit meeting of eurozone leaders to discuss the role of the banking supervisor that is to be created by the…
Morgan Stanley Sails Past Estimates, Massive Discount to Book Value
Morgan Stanley (NYSE: MS) is hardly moving after its third-quarter earnings report, but that may be because traders and investors have seen earnings from so many of its peers and rivals now. Net revenues…
AmEx Shows Higher Cardmember Spending, Larger Loss Provisions
American Express Company (NYSE: AXP) rose just over 1% ahead of earnings and now it is giving some of the small gain back. The credit card provider reported earnings rose 1% to $1.3 billion,…
SEC Charges Former $1 Billion Hedge Fund Advisory Firm
This is no case of Bernie Madoff, but the Securities and Exchange Commission has charged a former $1 billion hedge fund advisory firm and two executives with “scheming to overvalue assets under management and…
CME and Kansas City Board of Trade: More Consolidation in Exchanges
CME Group Inc. (NASDAQ: CME) is leading yet another consolidation of the global stock and commodity exchanges. Today came word that it was acquiring the 156-year old Kansas City Board of Trade. The exchange…
U.S. Bancorp Posts Record Q3 Profit
U.S. Bancorp (NYSE: USB) reported third-quarter 2012 results before markets opened this morning. The Minneapolis-based bank posted earnings per share (EPS) of $0.74 on revenues of $5.18 billion. In the same period a year…
Bank of America Skates by Earnings Estimates
Bank of America Corp. (NYSE: BAC) has reported earnings of $0.00 per share, or $340 million in net income, after items on revenue of $20.43 billion. Thomson Reuters estimates were -$0.07 per share and…
Moody’s Damns the Citigroup Board
Ratings firm Moody’s did not think much of the decision by the Citigroup Inc. (NYSE: C) board to push out CEO Vikram Pandit. Moody’s changed its outlook of Citi’s Baa2 rating from stable to negative.…
PNC Retains Safest Bank Status Despite Earnings Stumble
PNC Financial Services Group Inc. (NYSE: PNC) is taking another breather after its earnings report today. The bank is rather important because it was one of our own picks which made up the 7…
Pandit Formally Speaks Out and Clears the Air… Truth or Dare?
Vikram Pandit has already come out and told the Wall Street Journal that the decision to leave Citigroup, Inc. (NYSE: C) was his decision alone. Now we have CNBC’s Maria Bartoromo speaking with him, and…
More S&P Downgrades in Spain
Last week we saw that Standard & Poor’s had downgraded the credit ratings of Spain to BBB-. The move might as well have been a formal cut to junk bond status because the outlook…
Ten Likely Reasons for Pandit’s Departure
Citigroup Inc. (NYSE: C) stunned the markets on Tuesday with a sudden press release about the immediate departure of CEO Vikram Pandit. There are several reasons for us to wonder about what this really…
Big Change at Citi: Vikram Pandit Quits as CEO … Effective Immediately
Citigroup Inc. (NYSE: C) is making a big change. The banking giant has just announced that Vikram Pandit will step down as chief executive officer. The press release also says that he will step…
Goldman Beats Earnings, Raises Dividend
GS.COMThe Goldman Sachs Group Inc. (NYSE: GS) is out with earnings that look significantly better than estimates on the headlines. The investment banking giant is also boosting its dividend. Earnings came in at $2.85…