Wednesday saw Goldman Sachs saying that the Federal Reserve is likely to launch QE III (a third phase of quantitative easing) with the Federal Reserve’s promise of keeping interest rates at low levels for a minimum period of 2 years at its back. Chief economist at Goldman Sachs, Jan Hatzius, said that the likelihood of [...]

Bank of America might be dragged to court by AIG, the American International Group, reason being several mortgage-backed securities, further increasing the number of investors who seek compensation for the uneasy mortgages which had resulted in the financial crisis. The court proceedings seek recovery of over $10 billion suffered as losses on investments worth $28 [...]

With each day ticking closer to debt ceiling deadline falling next week and the Congress still adamant, who will be denied payment and who will be paid is the $14.3 trillion question. In case the debt ceiling is not raised by Tuesday, the Treasury has expressed its inability to make the payments of all the [...]

Hardly a few months back, JPMorgan Chase traders experienced such a smooth sailing that there was not a single day they had to suffer, in the first quarter. However the hot streak seems to come to an end with the bank reporting its second-quarter results this week. According to the expectations of the analysts, JPMorgan [...]

The next few weeks would see numerous bankers losing their jobs as they become victims of an industry-wide elimination of staff – a reaction to sharp decline in the demand for investment banking and trading services. Following 2 years of hiring as well as vigorous activity, investment banking lay-offs, the largest since credit crisis, are [...]

This year financial firms in the U.S. have been cutting staff considerably, with expectations of more layoffs coming from Wall Street, as per a report on Tuesday. The financial crisis faced by US companies in the year 2008 gave way to extensive layoffs succeeded by hiring on the recovery of the markets, however the 2011 [...]

On Thursday foreign regulators were loathed by U.S. bank regulators, stating the way financial institutions in Europe are only concerned about their own capital requirements, forgetting the upsettingly high prospects of future problems. According to Sheila Bair, the retiring Chairman of FDIC (Federal Deposit Insurance Corp), through the utilization of internal risk estimates, the European [...]

November 30, 2010, NEW YORK (Reuters): More than eighteen months after United States prosecutors charged Sergey Aleynikov, a computer programmer with stealing trading code from Goldman Sachs, the most influential bank of Wall-Street, on Monday the jury was selected to deal with the complex trail evidence. The selected jury member included the panel of twelve [...]

Marc Spilker, previously executing the group called Goldman Sachs has now been given a position of President by the Apollo Global Management, as the private equity firm strengthened its management’s rank to make it a trading company for public. According to the statement being issued by the firm late on Monday, Mr. Spilker after joining [...]

China’s 9.6 per cent growth in the 3rd quarter with accelerated inflation adds weight to call for economic recovery at the universal level. This growth rate exceeded the 9.5 per cent estimate (median) of economists in a survey recently conducted by Bloomberg News. As such, the statistics bureau in Beijing reported of consumer prices having [...]