Citigroup Earnings Miss as Bond Trading Slump Slows Recovery
Net income at Citigroup more than doubled to $2.69 billion from $1.2 billion a year earlier.
Goldman Reports Highest Profits in 3 Years
Underwriting revenue at Goldman Sachs surged to a record, and the firm’s reliance on trading fell to the lowest level in more than a decade.
Banned Stocks Held by SEC Employees Trigger Agency Ethics Review
SEC attorneys are reviewing the stock holdings of about 3,400 employees after some New York staffers were found to own securities prohibited by ethics rules.
JPMorgan CEO Meets With Attorney General Amid MBS Charges
A government official familiar with ongoing negotiations said an $11 billion national settlement is under review to resolve claims against JPMorgan.
Freddie Mac Sues Big Banks Over LIBOR
Government-owned Freddie Mac accuses the banks, including Bank of America, of acting collectively to hold down the U.S. dollar LIBOR.
UBS Could Shake Up Investment Bank
UBS is considering a revamp of its investment bank that could see it granting more responsibility to Andrea Orcel, co-head with Carsten Kengeter, and less to Kengeter, according to sources familiar with the matter.
Six Banks Set LIBOR
In the wake of the scandal that revealed LIBOR under manipulation by banks all over the world, the benchmark lending rate is suffering a credibility gap even as a smaller core group of banks contributes to setting the rate.
Baer Agrees to Buy Merrill Non-U.S. Wealth Units
Neither analysts nor investors appeared enthusiastic about the move.
Swiss Bank Baer Seen Close to Deal for Merrill Non-U.S. Wealth Units
Swiss money manager Julius Baer Group was reported to be close to a deal to buy the units that could be announced as early as Monday.
Barclays’ Diamond Blames Libor Fixing on Other Banks, Regulators
Moody’s cuts Barclays' outlook; investors may be on the hook for losses.