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bottom line
Latest Headlines
Latest Headlines
Citigroup joins the weak-revenue trend
So far, the scourge of the third-quarter bank results has been a troubling lack of top line growth--a vexing problem with no easy fix.
Citigroup became the latest bank to succumb to this malady. Revenues came in at $20.8 billion, slightly up from the prior year and previous quarter. Citigroup
The future of proprietary trading
It's fair to say the jury is still out on the Volcker Rule. The goals of the rule--as embodied in the Merkley-Levin provisions of Dodd-Frank--are laudable. And there are plentiful signs that banks are acting. But they are doing so for different reasons.
Morgan Stanley (NYSE: MS ), for
Bank of America too pessimistic on reform effects?
We noted recently that Bank of America (NYSE: BAC ) surprised some people by talking about the effect of financial regulation on its bottom line. The tone from executives was quite pessimistic, and we suggested that they were aiming to set low expectations for the analysts, talking them down a
At Och-Ziff, more signs of rebound
Och-Ziff has been on a fund raising tear as of late. The Financial Times reports the fund firm has taken in more than $500 million in fresh client money over the past six weeks. That surpasses the net amount taken in by the group over the last six months of 2009. This may reflect a better fund
Debt volume fall off to hit banks
Earnings have been soaring at top banks, boosting the optimism of investors. But a new issue is cropping up that has big implications for fourth-quarter earnings. Debt volume tanked in the quarter, and that undoubtedly will hit the bottom line. It's becoming clear that a quick rebound isn't likely
Morgan Stanley still lagging Goldman Sachs
The good news is that Morgan Stanley ( MS ) ended a string of three straight quarterly losses in the third quarter. Morgan Stanley posted a profit from continuing operations of 38 cents a share. Which handily beat the average estimate of 27-cent profit. It seems to have recovered its appetite fo
SEC to give shareholders more say over directors?
Is the time ripe for some big reforms that would give shareholders more power to nominate and ultimately vote in new corporate directors? Corporate boards have fared poorly in the court of public opinion as of late. The best example of that may be the Bank of America shareholder vote that stripped
Bank of America's Merrill Lynch conundrum
If you take a look at the package that Bank of America is offering Merrill Lynch brokers, it's clear that it is mainly interested in keeping the really top producers--the big bulls in the Thundering Herd, the ones generating more than a million in commissions. Incentives for the lesser ones are no
Once again, people wonder if the worst is finally over?
The scale of the government bailout is unprecedented, but there's a big question hanging over it: Will it work? If so, at what cost? It will buy up lots of debt, most likely at a severe discount to par. But will it ever be able to sell it all? Will it be forced to eventually write it down to nothi
What to make of Citigroup's strategy
Fairly or not, there are some who are less then awestruck by Vikram Pandit's much-anticipated new "strategy" for Citigroup . I wouldn't call it a strategy. It's more a of a survival blueprint for the next few years. The news that it will sell $500 billion in assets certainly is not a surprise.
