Tag:
Economy
Latest Headlines
Latest Headlines
Occupy Wall Street fights to survive
The police action in Oakland against the Occupy Wall Street movement seems to have prompted the mayor and police in New York to move forward with an effort to clean up Zuccotti park--before opening it up again to the protestors.
Police authorities have made clear that the protestors will be fr
Still reason to grumble on Wall Street pay
When it comes to bonuses, it's a game of hit-or-miss for Wall Street employees right now. Bonuses may tick up for many, but employees at premiere firms may see a decline. Traders, especially fixed income and derivative traders, may be among the disappointed. But there will be plenty of winners, an
Bank of America hits back at critics
Bank of America (NYSE: BAC ) had engaged in a somewhat novel tactic in the PR wars over its foreclosure policies, which have ignited much angst. The bank's PR team has apparently authorized an article on the Huffington Post from Rebecca Mairone, who is identified as a "Default Servicing Exe
Charlotte waits out bonus season
We're accustomed to stories about the luxury market in New York, and how it rises and falls with Wall Street's fortunes. The same dynamic plays out on a smaller scale in Charlotte, where the economy has been aided by the financial services industry over the years. In these lean times, it's a diffe
More bank downgrades coming?
Last year, Standard & Poor's downgraded 27 banks. Nine banks, which represents 20 percent of its rated banks, are now considered junk--that is, they have ratings of BB-plus or lower. The issue is whether more banks will soon join their ranks or at least be downgraded significantly.
The big
Bank earnings bloodbath coming?
We've had so many positive reports from analysts as of late, that one could be forgiven for thinking that the near-term outlook is favorable. In fact, big banks are looking at a very tough fourth quarter. Whether it will be so tough that people will question the moves to repay TARP funds is anothe
Warren Buffett's big deal
Another sign that M&A is back: Warren Buffett has made an "all-in wager" on the economy by buying Burlington Northern, the second largest rail company. Not all agree that it's a pure play on the economy . He's buying at the trough, but it's not clear how fast the company will come out of th
Are the good times back in NYC?
Manhattan and much of the city really thrives on Wall Street. The recession was tough on the entire Big Apple. But is the local economy about to heat up again, now that bonuses are back? High-end retailers and real estate agents are no doubt salivating. It won't be a luxe feeding frenzy just yet,
The future of securitization?
For all the angst we've experienced over securitization in the credit markets, the fact remains that if done well it can add a massive amount of liquidity to the system--and that fuels the economy. So even as banks are still struggling with toxic assets, people are concerned that as people lose mo
More on new bank overdraft fee changes
Bank of America says that its new, more consumer-friendly overdraft policies were not driven by the threat of new legislation.
"We made the decision that we had to help customers now and help those most stretched by the economy," the president of the bank's consumer and small-business banking
