Wells Fargo Hacked — Who’s Next?
Wells Fargo & Co. (NYSE: WFC) joins J.P. Morgan Chase & Co. (NYSE: JPM) and Bank of America Corp. (NYSE: BAC) as its major consumer customer site apparently was hacked and service completely disrupted.…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 139ECB Prepares for Legal Challenges to Bond-Buying Plan
German newspaper Bild said today that the European Central Bank and the Bundesbank have in-house lawyers checking on the legality of the ECB’s new bond-buying program. They are investigating both what proportions the program…
San-Fran Fed’s Williams Goes All-In Behind QE3
John Williams, President and CEO of the Federal Reserve Bank of San Francisco, was speaking and presenting his case for the support of quantitative easing at the City Club of San Francisco. While the…
National Bank Holdings Backers File To Sell Shares
National Bank Holdings Corporation (NYSE: NBHC) was initially not that well received for an initial public offering. It was just last week that its 7.1 million share IPO priced at $19.25 per share and…
Rumor Mill Turns to CIT Buyout or Sale
This would mark a serious change of fate if there is truth to the report. CIT Group Inc. (NYSE: CIT) went belly up after the recession. Since emerging from bankruptcy under CEO John Thain, the…
IMF Chief Warns on Global Economy
The International Monetary Fund (IMF) is about to join the parade of individuals and institutions adopting a dimmer view of the 2012 global economy. In a speech today in Washington, the IMF’s managing director,…
Atlanta Fed’s Lockhart Speaks on FOMC Action
Dennis Lockhart, President of the Atlanta Federal Reserve Bank, spoke to a Georgia audience today and explained some of his thinking leading to the recent FOMC decision to begin purchasing agency mortgage-backed securities. Lockhart…
Report on Greek Debt May Wait Until After U.S. Elections
A report from the so-called ‘troika’ — the European Commission, the European Central Bank, and the International Monetary Fund — on Greece’s ability to repay its debt may be delayed until after the U.S.…
Solar Maker Suntech Threatened with Delisting
Chinese solar panel maker Suntech Power Holdings Co. Ltd. (NYSE: STP) announced this morning that it had received a notice from the NYSE that the company has failed to meet the exchange’s criteria for…
Kocherlakota Prescribes Unemployment, Inflation Targets
In a speech today at a college in Michigan’s Upper Peninsula, Minneapolis Federal Reserve President Narayana Kocherlakota proposed what he called a “liftoff plan: a description of the economic conditions that would lead the…
Fifth Consecutive Negative Yield TIPS Auction
If one is looking for a deflationary signal about the US economy, a good place to start might be with Treasury Inflation-Protected Securities, known as TIPS. The US Treasury Department sold $13 billion in…
Jefferies Group Revenues Jump 45%
Shares of Jefferies Group Inc. (NYSE: JEF) are down in premarket trading this mornings solid earnings report. Jeffries reported third-quarter 2012 earnings per share (EPS) of $0.31 on revenue of $739 million. In the…
Rosengren: Fed Avoided “Great Stagnation”
What some economists and policy makers choose to refer to as a “lost decade,” Boston Federal Reserve President Eric Rosengren calls the “Great Stagnation,” which he said could happen: if policymakers of all sorts…
How Safe Are Bank Deposits? No One Knows
People who wanted to log on to Chase.com to check personal or corporate accounts found the site could not be reached, or ran very slowly yesterday. According to media reports, customers had similar problems…
Franklin Resources Buys Majority Stake in K2
Mutual fund giant Franklin Resources (NYSE: BEN) has announced that it will acquire a majority stake in K2 Advisors for an undisclosed amount. K2 is one of the largest of the so-called funds of…