Gjeldskrisen i EU
(Reuters) - Investment banks Morgan Stanley and Goldman Sachs Group Inc posted better-than-expected quarterly earnings on Thursday, helped by gains in merger advisory and stock underwriting. The results underscored how businesses viewed as stodgy before the financial crisis are becoming critical drivers of earnings growth for investment banks now.
NEW YORK (TheStreet) -- Facing mid-term elections and burdened with persistently high unemployment, President Obama is playing the race, gender and class cards. Fabricating fear and injustice, such tactics keep the economy in slow gear and make worse the very people the president professes to help. The financial crisis hit African-Americans much harder than whites -- more jobs and wealth were lost in the black community and in neither category have blacks since recouped as much as whites. The fundamental problems are slow growth, especially in [...]
NEW YORK (TheStreet) - Walmart is adding to the list of financial services that it provides for its under-banked and unbanked consumers, by launching a low-cost money wire transfer service. Walmart says it will allow consumers to transfer money for up to 50% less than other wire transfers. Known as Walmart-2-Walmart Money Transfer Service, the world's largest retailer partnered with Ria Money Transfer, a subsidiary of Euronet Worldwide , and a leading global provider of money transfer services. The service, which is available starting April 24, [...]
Bank says independent review found no evidence of systematic fraud 3.13pm BST Time to call it a day. Here's a quick summary of today's events: 2.46pm BST Wall Street opened flat to slightly lower after three days of gains, with lacklustre results from Google and IBM offset by upbeat quarterly numbers from Morgan Stanley, Goldman Sachs and General Electric. The Dow Jones slipped 0.13% while the Nasdaq lost 0.04%. In London, the FTSE 100 index has moved into positive territory, trading 26 points higher at 6610, a 0.4% gain. Germany's Dax is nearly 1% [...]
New York (TheStreet) -- If GM thought it could change the media focus from a widely publicized recall to new products at the New York Auto Show, it thought wrong. Perhaps CEO Mary Barra should have known better. At the NADA/J.D. Power Automotive Forum on Tuesday, the day preceding the opening press day of the auto show, Barra began a speech by saying that "it's really great to be in front of an automotive experience," drawing an obvious contrast to her early April appearances before two hostile congressional committees. Barra saluted the [...]
Interim chief executive Richard Pennycook describes the financial losses, mostly due to Co-op Bank, as a 'wake-up call' The Co-operative Group has revealed losses of £2.5bn after the most "disastrous year" in the mutual organisation's 150-year history. The group, which has lurched from crisis to crisis and lost a string of bosses along the way, admitted that the huge losses were due to "fundamental failings in management and governance at the group over many years".