Facebook Fiasco Drags UBS Profit Lower
UBS blamed its 349
million Swiss franc ($360 million)loss from Facebook's
botched U.S. market debut on exchange operator Nasdaq,
saying orders for the stock had been entered multiple times due
to a systems failure.
The Mobile Frontier: Next-Gen Apps on the Street
The rise of mobile apps is transforming Wall Street, enhancing the customer experience, improving portfolio and risk management, advancing the search for alpha, and even strengthening compliance.
Bernanke, Geithner Response to Libor Scandal Rings Hollow
Ben Bernanke heads the most powerful central bank in the world. Yet the Federal Reserve chairman says he was largely powerless to stop what some are calling the biggest financial fraud in history: the systematic manipulation of a key global interest rate.
The End of An Era: ICE Closes NY Trading Floor
The exchange, depicted in the popular 1983 film Trading Places, has a history dating back to the New York Cotton Exchange, which was founded in 1870 and later became the Coffee, Sugar and Cocoa Exchange.
JPMorgan Shuffles Managers Below Dimon
JPMorgan Chase announced a broad management shakeup among the executives just below Jamie Dimon, with Daniel Pinto and Mike Cavanagh becoming co-CEOs of the Corporate & Investment Bank.
JPMorgan Shuffles Managers Below Dimon
JPMorgan Chase & Co, the biggest U.S. bank, announced a broad management shakeup among the executives just below Jamie Dimon, signaling that the bank is preparing for life after its famed chief executive officer.
Barclays Dragged Into New Probe After Libor Blow
Barclays revealed a new regulatory probe and more U.S. lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks.
The Funniest Sandy Weill Twitter Responses
Former Citigroup CEO and the architect of the modern mega-bank dropped a bombshell on CNBC yesterday: We should break up the big banks that are too big to fail. This statement may seem simple and sensible but consider the source: this came from the man who created these very banking behemoths. Needless to say, Twitter was abuzz comparing Sandy Weill's truth bomb to other statements no one ever expected to hear. Enjoy.
Are Big Banks' Glory Days Gone for Good?
Ever since the financial crisis, banks have held out hopes of a return to the good times. But analysts and investors are now questioning whether things have changed for good.
Sandy Weill: Break Up the Banks
The man who created the modern bank supermarket and shattered Glass-Steagall thinks the banks are too big and should be broken up.
Libor Now Honest Says British Regulator
Dishonesty uncovered in setting Libor benchmark interest rates is now in the past and replacing them would be problematic, the head of Britain's financial regulator said.
Citi Integrates Dow Jones' FX Trader News
Citi will disseminate the real-time data releases and global economic news to its FX traders and sales staff through the bank's inhouse information service, CitiFX Wire.
Dow Jones to Sell Newswires Through WSJ.com
When Lex Fenwick started his job as CEO
of Dow Jones & Co more than five months ago, he found it strange
that one of Wall Street's most historic and well-known brands
did not have a direct pipeline into Wall Street itself.
As Wall Street Turns: Portware Buys Pipeline Tech Assets
In a move that seems too close to the Pipeline soap opera, EMS provider Portware will integrate the predictive analytics that it acquired from the former dark pool, while offering customers a broker-neutral solution to improve trading performance.
Tech Innovators Focus On Big Data
A number of entrepreneurs showcasing their latest inventions to venture capitalists at the FinTech Innovation Lab aim to help financial institutions make better sense of Big Data.