Plan to Rescue German Banks Stokes Fears of Crisis
New German government plans to rescue its banks and insurers sent the clearest signal yet that a European banking crisis could be imminent.
Recession Fears Fuel Art Sales
High-end art owners are looking to unload, sometimes settling for deep discounts on works from masters such as Pablo Picasso, Roy Lichtenstein and Robert Rauschenberg.
S&P’s President, Sharma, to Step Down
Deven Sharma, president of Standard & Poor's, will step down from his post on Sept. 12, and will be succeeded by Douglas Peterson, who is currently Citibank NA chief operating officer—Citibank is a unit of Citigroup.
Noncompliance Roundup: Stifel, Nicolaus; Citigroup; Janney
A roundup of recent charges, penalties and settlements--this week relating to fraud, insider trading and failure to supervise--from the SEC and FINRA.
FINRA Fines Citigroup $500,000
FINRA announced Tuesday that it had fined Citigroup Global Markets Inc. $500,000 for failure to supervise a former registered sales assistant in its branch office in Palo Alto, Calif.
Greek Rescue Plan Sends European Bank Stocks Skyrocketing
European bank stocks skyrocketed Thursday on news that an EU emergency summit meeting has crafted a plan to aid Greece without any new taxes on banks.
Q2 Earnings Outlook: Financial Firms’ Reporting Season Off to Good Start
But with new rules hitting banks, corporate results could face headwinds in the second quarter of 2011.
Bank of America Reports Losses
On the heels of Citibank's reported losses for the quarter and full year after repayments of TARP bailout funds, Bank of America reported losses for those periods as well.
B/D Briefing: Citi Brokers Switch to Fees
It hasn't taken long for Debbie McWhinney to make her mark at Citigroup. On October 5, Citi Personal Wealth Management announced that the brokers who...
Citi Switching Remaining Brokers to Fees
Bank will also build alliances with independent RIAs