As traditional Wall Street moneymakers like stock and bond trading suffer, banks are growing increasingly willing to invest in less glamorous operations: their credit card businesses.
Selling everything from their sofas to their wedding rings, Bank Asya clients are battling to shore up the Turkish lender against what they say is a government-orchestrated bid to scuttle it.
Bank of America Corp (BAC.N), the second-largest U.S. bank by total assets, could see its shares climb 50 percent over the next three years, Barron's financial newspaper said on Sunday.
Goldman Sachs (GS.N) is reviving plans to issue at least $500 million worth of Islamic bonds, a sign that Islamic finance is going mainstream as big conventional banks seek to tap Middle Eastern money.
German lender Commerzbank AG (CBKG.DE) is nearing agreement with U.S. authorities over its dealings with Iran and other countries under U.S. sanctions, sources familiar with the matter said.
Deutsche Bank AG's Asset & Wealth Management division said on Tuesday it has opened a private bank in Dallas with two former JP Morgan Private Bank executives at the helm. The move is part of a global push to increase the German bank's financial adviser base by 15 percent in the next three years.
China's Alibaba Group Holding Ltd [IPO-BABA.N], which is expected to go public in New York as early as next month, reported a 46 percent jump in quarterly revenue as growth in the world's largest e-commerce market showed no signs of slowing.
Communications equipment maker Comtech Telecommunications Corp said on Monday it is exploring strategic alternatives, including a possible merger or sale of the company, confirming a Reuters report earlier in the day.
Suffolk, UK-based construction supplier SEH Group obtained £9.4million in funding from Lloyds Commercial Banking under the government's Funding for Lending Scheme (FLS) to support its growth and expansion.
A growing number of hedge funds and institutional investors are acquiring non-performing loans from banks and federal agencies who can no longer keep them due to expensive holding costs of such loans, Bloomberg said in its report.
Herman Gref, the Chief Executive of state-run Russian bank OAO Sberbank, has called on the Kremlin to prevent restrictions to the Bitcoin as lawmakers consider curbs, Bloomberg reported.
Pacific Commerce Bank today reported financial results for the fourth quarter and the twelve months ended December 31, 2013 that reflected annual net income after tax of $4.9 million along with another solid quarter of loan and core deposit growth.
The Office of the New York Attorney General will continue with the lawsuit without claim to damages it lodged against Bank of America over its 2009 purchase of Merrill Lynch, Bloomberg reported.
The Criminal Prosecutions Bureau has been expanded by New York Attorney General Eric Schneiderman to the Criminal Enforcement and Financial Crimes Bureau to focus on financial wrongdoing, Bloomberg reported.
As demand for debt backed by commercial mortgages rise in recent months, yield-hungry investors are ready to make bets on loans packaged to non-traditional properties, the Financial Times reported.
Subscribe to VCpost newsletter
- Charter Communications nears $55 billion deal for Time Warner Cable - sources
- With 'attitude shift', Takata moves from denial to compromise in air bag crisis
- Dollar momentum wanes, China stocks take heavy tumble
- Russia to adopt tough position if Ukraine defaults: PM Medvedev
- China markets plunge in record turnover as margin traders take fright
- China's Premier Li sees growth of 7.0 percent in 2015
- Avago to buy Broadcom for $37 billion in biggest-ever chip deal
- Oil drops below $65 on U.S. shale outlook, dollar