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The Largest U.S. Banks, Under Investigation
Several U.S. banks, including JP Morgan and Bank of America, are being investigated in the U.S. for helping money laundering, drug trafficking and terrorist activities, reports AFP. “Federal and local authorities are investigating some of the largest...
ING Sells Its Stake in Capital One for $3 Billion
The largest Dutch financial services group ING Groep NV announced Wednesday the sale of its holding in Capital One for $3 billion, according to AFP. Following the transaction, ING would make a profit before tax of €300 million, which will be recorded...
Julius Baer Bank: An Employee Stole Information on German Customers
Julius Baer Group, one of the oldest Swiss banks, has advised its wealthy clients in Germany that an employee had stolen from the internal computer system information on their Swiss bank accounts. “We started an internal investigation and found...
Investors Lost Money, While Morgan Stanley Earned $100 Million Defending Facebook IPO
Bloomberg spoke with several American investors who invested in the initial public offering (IPO) of Facebook (NASDAQ:FB) hoping to make money but lost thousands of dollars, while the Wall Street Journal found that investment bank Morgan Stanley, the...
What Investment Style Made Soros and Buffett Rich and Famous?
Studies of successful investors such as Warren Buffett, George Soros and Peter Lynch, made by psychologists, behavioral analysts and market experts revealed that these brilliant minds have certain common characteristics. Without doubt, fundamental skill...
Sorting Out Lehman Brothers Business Could Take 20 Years
Clarification of the Lehman Brothers financial transactions and transfer of assets to creditors could take up to 20 years, is the warning from PricewaterhouseCoopers, the administrator of the European division of investment bank whose collapse in 2008...
IMF: Financial Risk Posed by Increased Life Expectancy
Financial risks of increased life expectancy is underestimated and will weigh heavily on the budgets of developed countries, according to the IMF’s quarterly report on global financial stability, published on Wednesday. Assumptions generally taken...
Sony, Record Loss of $6.4 Billion
Electronics maker Sony (TYO:6758, NYSE:SNE) has anticipated for the fiscal year ending March a record loss of $6.4 billion. Double the February estimate. Japanese multinational conglomerate corporation marks therefore the fourth year of negative results,...
Europe Is Seeking Protection Against Crisis
European finance ministers discussed at the meeting this week end about setting up a regional fund to support banks against any new crises like the one generated by the collapse of Lehman Brothers in 2008, according to CNBC. Several EU countries are supporting...