News

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Citigroup reported its second quarter earnings today, beating analyst expectations by losing far less money than anticipated.

Today, Merrill Lynch provided a damper to the financial sector rally that has occurred over the past two days by reporting even worse quarterly earnings than analysts expected. The firm announced a loss of $4.7 billion in the second quarter, it&...

Wachovia Securities St. Louis offices were searched today by the Missouri Securities Division after more than 70 formal auction rate securities complaints were filed against the St. Louis-based firm.

The SEC issued an “emergency order” yesterday that basically warned investors not to get “naked” if they planned on shorting any one of a list of 19 specific financial company stocks. Naked short that is.

UBS is trying to address two of its thorniest problems: angry investors who hold frozen auction-rate securities, and angry financial advisors who are leaving because they feel the firm has lost the plot—or simply because they want those fat...

Last week, Morgan Stanley rounded out the last of the national overtime settlements among wirehouse firms with a $50 million deal.

It seems that ladies who lunch do not like to give up those lunches, nor their shopping sprees, Gucci handbags and Hamptons summer getaways—no matter what the condition of their marital finances.

What killed the Bear? Leverage, of course, and, some allege, a rapid-fire rumor mill.

Bloomberg.com is reporting today that the legendary fund manager Bill Miller has lost his touch. After 15 years of outperforming the S&P 500, Miller, the manager of the Legg Mason Value Trust (LMVTX), has slipped into a funk, and assets in the...