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Updated: 3 years 3 weeks ago

Deutsche Bank could settle Libor probe this month: Report

Fri, 04/10/2015 - 03:55
The penalties are likely to exceed $1.5 billion, the amount UBS Group AG (UBSG.VX) paid in 2012, the source said. Negotiations also involve the possibility of a Deutsche UK subsidiary pleading guilty, the person said. Deutsche bank executives could be targeted for discipline, but many of them have already left the bank, the source said. Germany's largest lender may be among the last to settle with the authorities over the Libor manipulation scandal.
Categories: Business

U.S. stocks extend gains in late trading

Fri, 04/10/2015 - 03:55
Wall Street climbed solidly into the green in afternoon action Thursday as energy shares rallied on the back of gains in crude prices.
Categories: Business

GE nears pact to sell $30B real estate portfolio: WSJ

Fri, 04/10/2015 - 03:55
General Electric is close to a deal to sell its massive real estate portfolio as the blue-chip conglomerate looks to shrink its financial business, according to a report by the Journal.
Categories: Business

After foreclosures, home buyers are back

Fri, 04/10/2015 - 03:55
The housing industry is slowly seeing the return of buyers like Rick LeBlanc, who lost his Michigan home to foreclosure during the financial crisis but now qualifies for a mortgage again.
Categories: Business

The Balance of Power Is Tilting Back Toward Workers

Thu, 04/09/2015 - 23:55
This is the takeaway from the government's latest Job Openings and Labor Turnover Survey, or JOLTs, which is one of Federal Reserve Chair Janet Yellen's favorite economic datasets. The new data suggests this is finally about to change.
Categories: Business

France opens criminal probe of HSBC's Swiss banking unit

Thu, 04/09/2015 - 23:54
French authorities have placed HSBC under formal criminal investigation over alleged tax fraud by its Swiss private bank. The bank said Thursday the claim was "without legal basis." The London-based ...
Categories: Business

Dimon Sees Clouds Lifting

Thu, 04/09/2015 - 21:55
James Dimon says the regulatory cloud is lifting above J.P. Morgan Chase & Co. But the CEO still forecasts some squalls ahead. In his annual shareholder letter released late Wednesday, Mr. Dimon blamed legal and regulatory costs for weighing on the firm’s share price but said he expects the firm’s legal costs to “normalize” in 2016. The chief executive said the bank still faces legal uncertainty, highlighting continuing foreign-exchange settlement negotiations, but added that he thinks it will “diminish” over time. J.P. Morgan has paid more than $26 billion in recent years in fines and settlements.
Categories: Business

Apple Watch options: 54 combinations of case, band, size

Thu, 04/09/2015 - 21:55
Apple Watch comes with a choice of watch case, band and size — there are 54 possible configurations in all. Most models come in two sizes, 38 millimeters and 42 millimeters, as measured by the height of ...
Categories: Business

Tommy Chong nixed from pot lobbying push as legal marijuana tries to grow up

Thu, 04/09/2015 - 21:55
When the National Cannabis Industry Association descends on Capitol Hill later this month, Tommy Chong, the actor who spent years smoking up on screen and pushing for America to legalize marijuana, won’t be there.
Categories: Business

Apple Watch fashion, Chevy Volt production pause and making money from the CA drought

Thu, 04/09/2015 - 21:55
Yahoo Finance's Midday Movers is live each weekday at 12pm ET, covering all the latest news on the markets, the economy and the biggest stories of the day.
Categories: Business

The oil industry's $26 Billion life raft

Thu, 04/09/2015 - 18:54
For U.S. shale drillers, the crash in oil prices came with a $26 billion safety net. That’s how much they stand to get paid on insurance they bought to protect themselves against a bear market -- as long ...
Categories: Business

Dimon, now Summers: There's a liquidity problem

Thu, 04/09/2015 - 18:54
The former Treasury secretary said regulators should make a priority of addressing the problems of bond market liquidity, brought on by efforts to make institutions safer after the crisis.
Categories: Business

Apple says smartwatch demand to exceed supply at launch

Thu, 04/09/2015 - 16:55
Apple Inc said on Thursday demand for its new smartwatch would exceed supply when the gadget hits stores on April 24. Apple said it saw "tremendous interest" for the watch from people visiting its stores and website. The Apple Watch could make life easier for people on the move, but the gadget got poor marks for battery life and slow-loading apps from reviewers.
Categories: Business

U.S. jobless claims dropped to lowest level in almost 15 years over past month

Thu, 04/09/2015 - 15:00
Fewer Americans applied for unemployment benefits over the past four weeks than at any time in almost 15 years, signaling underlying strength in the labor market even as hiring cooled last month.
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Gauging the timing of a US rate hike

Thu, 04/09/2015 - 15:00
David Roche, global strategist at Independent Strategy, says the minutes from the previous FOMC meeting contain no message about when the Fed could lift interest rates.
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Alibaba finance arm Ant Financial to launch online bank in June

Thu, 04/09/2015 - 15:00
Alibaba Group Holding Ltd's affiliate Ant Financial will launch its planned online bank called MYbank in June, a group executive said on Thursday, as China's internet companies increasingly encroach upon the turf of traditional banks. The June launch was disclosed by Yuan Leiming, Ant's general manager of its finance division, in an interview with Reuters. It comes after Alibaba's arch-rival Tencent Holdings Ltd's own internet bank, WeBank, began trial operations in January this year.
Categories: Business

Wall Street cautious; Farmville maker's shares sink; paying for YouTube

Thu, 04/09/2015 - 15:00
Investors continue to play it close to the vest as corporate earnings start to roll in; things are not so good down on the farm for the creator of Farmville. And you could soon be paying for YouTube videos
Categories: Business

Dollar bulls back off amid concern Fed will delay hike

Thu, 04/09/2015 - 15:00
Some of the biggest dollar bulls in the global bond fund sector have reversed course in recent weeks, cutting exposure to the greenback amid concern the U.S. Federal Reserve will delay a widely-anticipated interest rate hike.
Categories: Business

Ahead of the Bell: US jobless aid applications likely rose

Thu, 04/09/2015 - 15:00
The U.S. Labor Department reports on the number of people who applied for unemployment benefits last week at 8:30 a.m. Eastern Thursday. REBOUND AFTER SHARP DROP: Economists forecast that weekly applications ...
Categories: Business

India not out of inflation woods - Rajan

Thu, 04/09/2015 - 12:55
India's central bank will continue to focus on targeting inflation and cannot drop guard, Reserve Bank of India Governor Raghuram Rajan said in an interview to CNBC-TV18 on Thursday. "This is where we cannot relax our guard quickly, we cannot say we are out of the inflation woods," Rajan said, referring to the central bank's achievement over bringing down retail inflation sharply from double digit level. India's consumer prices index fell to 5.37 percent in February from a high of 11.16 percent in November 2013, a few months after Rajan assumed office. Appreciating the government's efforts on fiscal consolidation over medium term, Rajan said the government was collaborating on the central bank's inflation target.
Categories: Business