House OKs bills to renew Iran sanctions, crack down on Syria
In this Wednesday, Sept. 21, 2016 photo released by the Syrian Presidency, Syrian President Bashar Assad speaks to The Associated Press at the presidential palace in Damascus, Syria.
Category Archives: Financial Services
Steve Cohen’s General Counsel Is Part of Trump Transition Team
Kevin O'Connor, the general counsel for Steven A. Cohen's investment firm, is overseeing staff picks for the Justice Department as a member of President-Elect Donald Trump's transition team, according to a chart obtained by Bloomberg. O'Connor's employer, Point72 Asset Management, is the successor to Cohen's SAC Capital Advisors, which was the subject of one of the largest insider trading cases in recent years, though he wasn't there at the time.
Mnuchin Said to Be Top Treasury Pick Among Trump’s Advisers
Former Goldman Sachs Group Inc. partner Steven Mnuchin has been recommended by Donald Trump's transition team to serve as Treasury secretary, according to two people familiar with the process, and the choice is awaiting the president-elect's final decision. Mnuchin, the campaign's national finance chairman, has been considered the leading candidate for the job.
U.S. SEC Chair White to time her exit from agency with Obama’s
U.S. Securities and Exchange Commission Chair Mary Jo White plans to step down around the same time President Barack Obama exits the Oval Office, the agency said on Monday. Her departure will cap a nearly four-year tenure marked by regulatory and enforcement milestones, as well as internal discord over Wall Street rules.
Deutsche Bank May Reach Faster DoJ Deal on Trump, Barclays Says
European banks may reach faster, less costly settlements with the U.S. Department of Justice as a result of Donald Trump's unexpected triumph in the U.S. presidential election, according to Barclays Plc analysts. "Some Democrat appointments at the DoJ have only a few weeks left before they are replaced," London-based analysts Mike Harrison and Jeremy Sigee wrote in a note to clients on Friday.
Trump advisers back deregulation, privatized social security
"We're not going to hurt the people who have been paying into Social Security their whole life," Trump declared, calling the payment of promised benefits "honoring a deal." But the man heading the Trump transition team's Social Security effort? Michael Korbey, a former lobbyist who has spent much of his career advocating for cutting and privatizing the program.
Trump, Populism, and Anti-Semitic Dog Whistles
Donald Trump's closing advertising message is a much more polished version of the populism he's been peddling all campaign: GOP candidates who want to win Michigan, OH, PA & the White House in the future should borrow heavily from this ad. https://t.co/X2yka7RlVS From a technical and thematic perspective it's a well made ad.
Bay Area billionairea s ties to Clinton campaign revealed in WikiLeaks release
Bay Area billionaire philanthropist Herb Sandler, who was among those blamed for the 2008 mortgage meltdown that triggered the financial crisis, has edged back into the spotlight thanks to the WikiLeaks hacking of the email account of Hillary Clinton's campaign chairman, John Podesta. The hacked emails from Podesta show a close relationship between the wealthy Clinton donor and longtime Clinton confidante, who worked as the Sandler Foundation's grant consultant for the past 21 months.
Dave Matthews Serenades Bankers as Tisch, Rohatyn Women Honored 2 hours ago
At a Lincoln Center gala that raised $3.1 million Tuesday night, Dave Matthews and Yissy Garcia, a woman drummer with a mohawk, played for Evercore Chief Executive Officer Ralph Schlosstein and Citigroup's head of corporate and investment banking, Raymond McGuire. Thank President Obama for giving the bankers the opportunity.
Us Stocks-U.S. election, rate uncertainty rattle Wall Street
Wall Street sold off on Tuesday, with the S&P 500 closing at the lowest level since July 7, amid growing concern over the impending U.S. presidential election and prospects for higher U.S. interest rates. Stocks pared losses after falling steeply in early afternoon trading as the S&P 500 breached a key technical level.
The election impact: How consumers are reacting
In this Oct. 17, 2012 photo, a sign advertising a sale is seen posted on a storefront in Philadelphia. It's no secret that Americans have been a bit anxious about the contentious president election between Donald Trump and Hillary Clinton.
City Diary: Barclays’ former a 2.4m-a-year chief Antony Jenkins…
Barclays' former A 2.4m-a-year chief Antony Jenkins yesterday unveiled his bank-focused fintech business, 10x Future Technologies, informing anyone who'd listen: 'I want to transform banking.' Dry biscuit Jenkins, 55, made a similarly earnest pledge to 'transform' Barclays post-Bob Diamond and was canned not long afterwards, but perhaps we shouldn't discourage him.
Next up for Sen. Warren in Wells scandal: Its auditor
The Massachusetts crusader has fired off a letter to Wells Fargo's auditor KPMG asking why it didn't catch onto the widespread fraud at the bank. KPMG: "We have received the letter and are currently reviewing it.
Why Wall Street’s Top Cop Criticized by Warren Could Stay Awhile
Political friction and vacancies in top posts at the U.S. Securities and Exchange Commission have increased the likelihood that Chair Mary Jo White could remain in the job beyond the end of President Barack Obama's term. White has privately told agency officials that people with ties to both the Hillary Clinton and Donald Trump campaigns have asked if she would consider staying on to give the next president time to pick a successor, said people familiar with the matter.
Barclays Said Trying to Cap U.S. Mortgage Penalty at $2 Billion
Barclays Plc is trying to draw a line at $2 billion in penalties to settle a U.S. investigation into its sale of mortgage securities after it received an opening offer that it considered too high, according to a person with knowledge of the situation. The Justice Department's starting point for negotiations wasn't disclosed but was less than the $14 billion initially presented by the government to Deutsche Bank AG in its talks with the U.S. over similar allegations, two people with knowledge of the matter said.
Donald Trump says he will dramatically ramp up donations in final stretch of campaign
Donald Trump told CNN Wednesday he is prepared to open up his wallet and donate considerably more to his campaign in the closing days of the race. He claimed that by Election Day, he will have spent $100 million.
Fashion retailer French Connection’s shares jump on takeover hopes
The Telegraph newspaper had said on Saturday that interested buyers were thought to be a mix of European and U.S. private equity firms, as well as investment manager Neuberger Berman, and that French Connection had approached investment bank Moelis & Co Zara and has failed to report a pretax profit since the year ended Jan. 31, 2012 with critics saying it should ditch its 25-year-old FCUK logo. Private equity firms could be a natural fit for French Connection as they could push through operational changes to extract profit, and revive the company's brand appeal, said Neil Saunders from retail consultant Conlumino.
Policy Prescriptions Trump and Clinton on global trade
Hillary Clinton repudiates an ambitious Asia-Pacific trade deal she once praised and vows to appoint a special prosecutor to keep U.S. trading partners in line. American trade policy is taking a bipartisan beating this election year, reflecting voters' deep skepticism over the benefits of open trade with China and other countries at a time of sluggish economic growth and stagnant incomes.
Goldman CEO Blankfein ‘Supportive’ of Hillary’s ‘Willingness to Engage’
Lloyd Blankfein, chief executive officer of Goldman Sachs Group Inc., has shied away from publicly backing a presidential candidate this year, saying his support could harm that person's chances. Yet in an interview that will air Sunday on CNN's "Fareed Zakaria GPS," Blankfein, asked if he personally supports and admires Democrat Hillary Clinton, said that he did.
Friday’s Bank Stocks: Indexes mixed as First NBC tumbles, SVB Financial soars
Stocks closed with mixed results in trading Oct. 21, with the Dow Jones Industrial Average retreating 0.09% to 18,145.71 and the S&P 500 dipping 0.01% to 2,141.16, while the Nasdaq composite index gained slightly, adding 0.30% to end at 5,257.40. revealed Oct. 20 that the Federal Reserve Bank of Atlanta and the Louisiana Office of Financial Institutions gave the company a "troubled condition" designation.