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Treasury Secretary Timothy F. Geithner on Friday criticized the huge bonuses that Wall Street is expected to pay this year and he rejected the contention by Goldman Sachs that it would have survived the financial crisis without $10 billion in government bailout money.
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Lloyd Blankfein's $500 million mea culpa for Goldman Sachs' role in the financial crisis drew some predictable derision. The Wall Street Journal 's Mean Street column pooh-poohed it as a meaningless public relations exercise that would do nothing to quell public anger, and one that glossed over the reality that "Goldman Sachs exists solely to make profits for its employees and shareholders.
Luxury retailers lost their traditional resilience during a financial crisis that hit the rich hard but offered attractive leverage to Wall Street's resurgence, the global recovery and increasingly we...
Investors are bracing for a strong open when U.S. stocks open for trading Friday following the government's much better-than-expected monthly jobs report.
Shares in Netflix, which have have more than doubled in the last year, are a bit down today, sagging some 3 percent. What gives? Best to be wary of anyone who ever tells you why a stock moves on a given day, but a good bet here would be: Shares in Netflix have more than doubled ...
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The meltdown of the housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms, a well-known economist said recently.
NEW YORK: US stocks finished higher in choppy trade Friday as the impact of a better-than-expected November jobs report was offset by concerns the Federal Reserve will hike interest rates sooner than expected. The Dow Jones Industrial Average pared strong opening gains to finish a modest 22.75 points (0.22 per cent) higher at 10,388.90. The Nasdaq composite rose 21.21 points (0.98 per cent) to 2 ...
Maybe the experts know something we don't know.
THE demand for local graduates seems to be back on track. Fudan University's annual recruitment fair attracted about 250 firms with some 5,000 posts on offer yesterday, a 20-percent increase in the number of participants over last year.
LOUISVILLE, KY — Step onto the lot of any local RV dealer and you're likely to hear the words "credit application." You're also likely hear another word: "declined." Experts say turning that trend around is the biggest key to the industry's future.
The meltdown of the US housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms, a well-known economist said.
NEW YORK - US STOCKS finished higher in choppy trade Friday as the impact of a better-than-expected November jobs report was offset by concerns the Federal Reserve will hike interest rates sooner than expected. The Dow Jones Industrial Average pared early double-digit gains to finish a modest 21.54 points higher (0.21 per cent) at 10,387.69 at the market close.
Federal Reserve chairman Ben Bernanke, making a case for a second term on Thursday, offered a forceful defence of the U.S. central bank’s crisis-battling efforts, which he said prevented an even ...
With its vital political timing, next week's pre-election pre-Budget report could be an eventful affair. The Chancellor, Alistair Darling seems unlikely to announce a further special fiscal boost of any size, despite signs that the recovery is late but some economists have begun to talk up the chances of some minor voter-friendly wheezes, such as a temporary income-tax rebate.
I have stolen the concept for this week's article unashamedly from Warren Buffett and have given it an Australian tilt.
