Stocks fell on Monday, with the S&P 500 and Nasdaq erasing early gains as disappointing U.S. factory numbers curbed optimism spurred by positive data on China's economy.
Sectors
Ex-Citi Bankers Shut $1 Billion Fund; Asia Offers Thin Pickings
Three ex-Citigroup bankers who raised $1 billion to invest in pan-Asia financial services have closed the fund after a string of setbacks and the region's failure to deliver hoped-for bargains in the aftermath of the global financial crisis.
Morgan Stanley's 2013 Adviser Pay to Reward New Loans
Morgan Stanley will shift the way advisers in its wealth management business are paid next year, cutting bonuses tied to the amount of revenue they bring in and rewarding them instead for growing assets and loans.
Apple Shares Tumble 4 Percent in Heavy Trade
Shares of Apple Inc tumbled nearly 4 percent on Wednesday, rounding off a bleak ten weeks for the most valuable U.S. company, with analysts citing factors such as increasing competition in the tablet market.
AIG Names New CEO for Mortgage Insurer United Guaranty
American International Group Inc shuffled the management of its mortgage insurance unit for the second time this year, naming a new chief executive for United Guaranty and moving the prior CEO to a senior underwriting position.
Latest News
Even as the British Government lays the ground for its upcoming Energy Bill that will principally aim to promote a low-carbon energy economy in the country, Japanese energy and engineering major Hitachi has completed the acquisition of Britain's Horizon nuclear project.
Russia's largest oil company Rosneft is all set to buy a 50% stake in TNK-BP from BP for a total consideration of about 55 billion.
Even as consumer companies and prescription drug-makers zero in on emerging opportunities in the OTC healthcare market, global consumer goods major Reckitt Benckiser has inked a deal to acquire US group Schiff Nutrition for $1.4 billion.
Even as Goldman Sachs Group and Providence Equity Partners plan their exit from New York Yankees' regional sports network YES, Rupert Murdoch's News Corp is reportedly working toward picking up a minority stake in the network.
American Airlines' bankrupt parent has asked a judge to extend by six weeks, through March 11, the period in which it has the exclusive right to propose a plan to exit bankruptcy.
Boeing Co on Thursday asked for the aid of a federal mediator in contract talks with the union that represents its engineers, citing significant differences on pay and benefits.
JPMorgan Chase & Co sees a strong government presence in Brazil as a source for new business leads, a senior banker said on Thursday, highlighting the growing clout of the nation's public sector as an investment-banking client.
The U.S. government banned BP Plc from new federal contracts on Wednesday over its "lack of business integrity" in the Deepwater Horizon oil spill in 2010, a move that could imperil the British energy giant's U.S. footing.
The U.S. government is threatening to file civil securities fraud charges against SAC Capital Advisors and is tightening the regulatory screws around Steven A. Cohen, the $14 billion hedge fund's founder and one of the industry's most famous traders.
