Seventeen years ago fund manager Michael F. Price spurred the merger of Chase Manhattan Corp. and Chemical Banking Corp., creating what was then the biggest U.S. bank and laying the foundation for JPMorgan Chase & Co.
The Federal Energy Regulatory Commission lacks authority over futures contracts, a U.S. appeals court ruled, handing a victory to the Commodity Futures Trading Commission and an ex-Amaranth Advisors LLC trader fined $30 million by FERC.
Merger advisers Lazard Ltd. and Evercore Partners Inc. will benefit from an increase in acquisitions fueled by a deal to avoid tax increases and spending cuts set to take effect this week, JMP Securities LLC’s David Trone said.
Morgan Stanley may have avoided paying Citigroup Inc. hundreds of millions of dollars more for the remaining stake in their Smith Barney joint venture by fixing a price just before the brokerage’s profit surged.
Goldman Sachs Group Inc. and Citigroup Inc. are among firms to have first-quarter earnings estimates raised by analysts after Jefferies Group Inc. announced a surprise jump in fixed-income trading revenue.