Lampert's Hit-or-Miss Portfolio
While Sears has been an albatross for hedge fund investor Edward S. Lampert, his other holdings like Auto Nation and Auto Zone are faring well.
View Article3 Buyers Vie for R.B.S. Aircraft Leasing Unit
Wells Fargo, China Development Bank and the Sumitomo Mitsui Financial Group of Japan are in a three-way race to acquire RBS Aviation Capital.
View ArticleWells Fargo Stands Out With Trading Gains
In contrast to its peers, Well Fargo made $430 million in net gains from trading activities in the fourth quarter, compared with a $442 million loss in the third quarter.
View ArticleFor Once, a Bank Run Is a Good Thing
On Wednesday night, Wall Street took part in the 35th annual Empire State Building Run-Up, a charity event that had 666 people racing up the 1,576 stairs of the tallest building in New York.
View ArticleWells Fargo Weighs 'Selective Acquisitions'
Wells Fargo's chief financial officer, Tim Sloan, told a conference in Manhattan on Wednesday that the bank was weighing "selective acquisitions" as European banks put assets up for sale, Rick...
View ArticleOn Wall St., Keeping a Tight Rein on Twitter
Financial firms must monitor communications to ensure that they are in compliance with securities regulations as they tiptoe into the fast-paced world of social media.
View ArticleGoldman Profit Falls 23%, but It Surpasses Analysts' Forecasts
The bank reported first-quarter earnings of $2.1 billion, down 23 percent from a year ago. But earnings of $3.92 a share exceeded the $3.55 analysts had estimated.
View ArticleWells Fargo to Buy Prime Brokerage Firm
The deal for Merlin Securities makes Wells Fargo the last of the nation's biggest banks to enter the lucrative prime brokerage field, which caters to hedge funds and other alternative asset management...
View ArticleBig Banks Fined $9 Million Over Risky Products
Citigroup, Morgan Stanley, UBS and Wells Fargo agreed to pay fines of more than $9 million to settle cases tied to exchange-traded funds.
View ArticleWells Fargo's Play for Prime Brokerage Prompts Skepticism
Moody's Investors Service raised concerns on Monday about the bank's recent move outside its comfort zone of consumer lending.
View ArticleWells Fargo Posts $4.6 Billion Profit, Up 17%
Wells Fargo reported its 10th consecutive quarter of earnings growth as a result of a booming mortgage business.
View ArticleWith Rates Low, Banks Increase Mortgage Profit
Bundling mortgages and selling them to investors is helping banks make big profits even as they charge lower interest rates.
View ArticleWells Fargo Settles Mortgage-Crisis Case for $6.5 Million
Wells Fargo settled a case with the S.E.C. involving asset-backed commercial paper that it sold to nonprofit groups, local governments and other investors. The agency said the bank sold troubled...
View ArticleJPMorgan's Former Leader Makes a Case for Big Banks
William B. Harrison Jr., a primary architect of the modern-day JPMorgan Chase, writes in an op-ed in The Times that the breakup of big banks would not prevent risky behaviors.
View ArticleAn Enigma in the Mortgage Market That Elevates Rates
A 30-year mortgage with a 2.8 percent interest rate could already exist, but something in the banking system is holding it back. And right now, few agree on what that "something" is.
View ArticleOnce Unthinkable, Breakup of Big Banks Now Seems Feasible
Bank stocks have been persistently weak, and the logical solution is that they shed business lines in a bid to improve their prospects in the eyes of Wall Street.
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