Ralph Cole News
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Citigroup Inc., the third-biggest U.S. bank, asked the Federal Reserve for permission to buy back $1.2 billion of shares without seeking a dividend increase a year after its previous request was rejected.
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The six largest U.S. banks may return almost $41 billion to investors in the next 12 months, the most since 2007, as regulators conclude firms have amassed enough capital to withstand another economic shock.
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Capital One Financial Corp. is among the cheapest U.S. bank stocks, even as Federal Reserve data show the company is better-equipped than JPMorgan Chase & Co. and Wells Fargo & Co. to withstand a severe economic slump.
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Bank of America Corp. and Citigroup Inc. are among lenders that may find it more difficult to boost profits and capital after the Federal Reserve pledged to keep its benchmark interest rate low until at least late 2014.
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In mid-January, sales managers in Wells Fargo & Co.’s mortgage unit, the largest in the U.S., gathered at a hotel south of San Francisco dressed as cowboys, six shooters strapped to their hips.
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Goldman Sachs Group Inc. is poised to win the top spot among advisers on both global takeovers and equity offerings for the first time in five years, a sign the bank hasn’t lost the trust of corporate executives.
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Goldman Sachs Group Inc., facing a fraud lawsuit from U.S. regulators, reported first-quarter earnings that surpassed analysts’ estimates on record fixed- income trading revenue.
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Morgan Stanley rose to the highest in almost three months in New York trading after reporting a smaller fourth-quarter loss than analysts estimated on gains in equities trading.
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Goldman Sachs Group Inc., facing a fraud lawsuit from U.S. regulators, reported that net income almost doubled in the first quarter and said it didn’t mislead investors.
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JPMorgan Chase & Co. and Goldman Sachs Group Inc., among the world’s biggest traders of credit derivatives, disclosed to shareholders that they have sold protection on more than $5 trillion of debt globally.
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