Opening Bell

  • jamiedimon

    Opening Bell

    Opening Bell: 10.25.13

    Abe Says Japan Ready To Counter China’s Power (WSJ) Japanese Prime Minister Shinzo Abe said he envisions a resurgent Japan taking a more assertive leadership role in Asia to counter China’s power, making Tokyo a representative in the region for countries nervous about Beijing’s military buildup and a possible U.S. pullback. “I’ve realized that Japan […]

    / Oct 25, 2013 at 9:30 AM
  • Credit_Suisse_-_116_357740c

    Opening Bell

    Opening Bell: 10.24.13

    Credit Suisse revamps rate trading after income slide (Reuters) Credit Suisse said it would restructure its interest rate trading activities following a third-quarter slide in revenue at its investment bank. The Swiss bank said overall net profit rose on the year to 454 million Swiss francs ($509.1 million) from the year-ago period, where charges linked […]

    / Oct 24, 2013 at 9:30 AM
  • alangreenspan

    Opening Bell

    Opening Bell: 10.23.13

    Draghi Says ECB Won’t Hesitate to Fail Banks in Stress Tests (Bloomberg) “Banks do need to fail” to prove the credibility of the exercise, Draghi said in a Bloomberg Television interview with Francine Lacqua in Frankfurt, after the ECB published plans for its bank-asset check. “If they do have to fail, they have to fail. […]

    / Oct 23, 2013 at 9:30 AM
  • AmandaPaneduroIlyssaPaneduro

    Opening Bell

    Opening Bell: 10.22.13

    Former JPMorgan executive challenges UK’s London Whale report (Reuters) A former JPMorgan Chase & Co executive in Europe is appealing findings by Britain’s financial watchdog that criticized his actions in connection with the “London Whale” scandal. Achilles Macris, who is appealing, ran the London division of JPMorgan’s Chief Investment Office, where Bruno Iksil, nicknamed “the […]

    / Oct 22, 2013 at 7:30 AM
  • young-mark-cuban

    Opening Bell

    Opening Bell: 10.21.13

    J.P. Morgan Pact on Table But Other Probe Looms (WSJ) JP Morgan Chase reached a tentative deal this weekend to pay $13 billion to end a number of civil investigations into its sale of mortgage securities before the 2008 financial crisis, but a separate and potentially more serious criminal probe into the bank and its […]

    / Oct 21, 2013 at 7:30 AM
  • rex-ryan3

    Opening Bell

    Opening Bell: 10.18.13

    HSBC Is Fined $2.46 Billion in Securities Fraud Case (Reuters) A unit of the British bank HSBC was hit on Thursday with a record $2.46 billion final judgment in a securities class-action lawsuit in Chicago against a lender formerly known as Household International. The judgment, by Judge Ronald Guzman of Federal District Court, was the […]

    / Oct 18, 2013 at 7:30 AM
  • reeses-pb-cup

    Opening Bell

    Opening Bell: 10.17.13

    Goldman third quarter revenue down 20 percent, bank slashes costs (Reuters) Goldman responded to the weaker revenue by cutting the money set aside for compensation by 35 percent, to $2.38 billion. So far this year it has set aside $10.4 billion to pay employees, down 5 percent from the first nine months of 2012. Overall, […]

    / Oct 17, 2013 at 9:30 AM
  • buffett_warren

    Opening Bell

    Opening Bell: 10.16.13

    Buffett Defends Dimon, Says Regulators Take Ton of Flesh (Bloomberg) “If a cop follows you for 500 miles (800 kilometers), you’re going to get a ticket,” Buffett, the chairman and CEO of Berkshire Hathaway Inc. (BRK/A), said today in an interview on CNBC. “And believe me, you’ve had a lot of cops that have been […]

    / Oct 16, 2013 at 9:30 AM
  • dancingbear

    Opening Bell

    Opening Bell: 10.15.13

    Citigroup Results Hit by Weak Fixed Income Trading (WSJ) Citi–which in the year-earlier period logged a $4.7 billion charge tied to its brokerage joint-venture Morgan Stanley Smith Barney–reported a profit of $3.23 billion, or $1 a share, compared with a profit of $468 million, or 15 cents a share, a year earlier. However stripping out […]

    / Oct 15, 2013 at 8:38 AM
  • mister-softee1

    Opening Bell

    Holiday Bell: 10.14.13

    Legal Bills Rising, Cohen Is Said to Plan Art Sales (Dealbook) In recent months, as his legal troubles have deepened, the billionaire hedge-fund manager Steven A. Cohen has sold stocks to meet withdrawal requests from skittish investors. Now, in addition to stocks, Mr. Cohen is selling significant works of art from his celebrated collection. Mr. […]

    / Oct 14, 2013 at 12:42 PM
  • dimonumbrella

    Opening Bell

    Opening Bell: 10.11.13

    JPMorgan’s Dimon Posts First Loss on $7.2 Billion Legal Cost (Bloomberg) The third-quarter loss was $380 million, or 17 cents a share, compared with a profit of $5.71 billion, or $1.40, a year earlier, the New York-based company said today in a statement. Shares of the company rose 2.6 percent at 7:50 a.m. after profit […]

    / Oct 11, 2013 at 9:30 AM
  • jacob lew

    Opening Bell

    Opening Bell: 10.10.13

    Blackstone’s Tony James: A Federal Default Invites Catastrophe (WSJ) “I have always been amazed that anyone would choose to play Russian roulette. Who could ever be so bored, so irresponsible, or have such low future aspirations that they would flirt willfully with death while having nothing to gain? Yet Congress is doing just that with […]

    / Oct 10, 2013 at 9:30 AM
  • janet-yellen

    Opening Bell

    Opening Bell: 10.09.13

    Janet Yellen To Be Named Fed Chairman (Bloomberg) Obama will announce the nomination at 3 p.m. today in Washington, a White House official said in an e-mailed statement. Yellen, 67, would succeed Ben S. Bernanke, whose term expires on Jan. 31. Obama turned to Yellen, vice chairman of the Fed since 2010, after the other […]

    / Oct 9, 2013 at 9:30 AM
  • great-white-shark-seal-sequence

    Opening Bell

    Opening Bell: 10.08.13

    IMF Cuts Global Outlook While Warning of U.S. Default Threat (Bloomberg) “Advanced economies are gradually strengthening” while “growth in emerging-market economies has slowed,” IMF chief economist Olivier Blanchard wrote in a foreword to the World Economic Outlook report. “This confluence is leading to tensions, with emerging-market economies facing the dual challenges of slowing growth and […]

    / Oct 8, 2013 at 9:30 AM
  • cinnabon1

    Opening Bell

    Opening Bell: 10.07.13

    A U.S. Default Seen as Catastrophe Dwarfing Lehman’s Fall (Bloomberg) Failure by the world’s largest borrower to pay its debt — unprecedented in modern history — will devastate stock markets from Brazil to Zurich, halt a $5 trillion lending mechanism for investors who rely on Treasuries, blow up borrowing costs for billions of people and […]

    / Oct 7, 2013 at 9:30 AM
  • dimonumbrella

    Opening Bell

    Opening Bell: 10.04.13

    JPMorgan’s Dimon Said to Relinquish Chairman Title at Bank Unit (Bloomberg) JPMorgan Chase Chief Executive Officer Jamie Dimon stepped down as chairman of the lender’s main bank subsidiary at the start of July, according to a person briefed on the move. Dimon, who serves as CEO and chairman of the parent company, handed off his […]

    / Oct 4, 2013 at 9:30 AM
  • mark-cuban

    Opening Bell

    Opening Bell: 10.03.13

    Ackman Tries Safer Herbalife Mix (NYP) The investor titan converted 40 percent of his $1 billion equity short on Herbalife to less-risky long-term put options, according to a letter his Pershing Square hedge fund sent late Wednesday to investors, The Post has learned. “The restructuring of the position preserves our opportunity for profit,” wrote Ackman […]

    / Oct 3, 2013 at 9:30 AM
  • markcubandwts

    Opening Bell

    Opening Bell: 10.02.13

    More Pain Looms For Banks (WSJ) New troubles are piling up for U.S. banks as they prepare to release third-quarter results amid warnings of weak trading revenue, a sharp decline in mortgage-refinancing activity and rising legal costs. Analysts are scrambling to ratchet down earnings estimates ahead of the reports. J.P. Morgan Chase and Wells Fargo […]

    / Oct 2, 2013 at 9:28 AM
  • buffett-glasses

    Opening Bell

    Opening Bell: 10.01.13

    U.S. Shutdown Idles 800,000 as Congress Deadlocked (Bloomberg) Congressional leaders have scheduled no further negotiations on spending legislation, raising concerns among some lawmakers that the shutdown could bleed into the more consequential fight over how to raise the U.S. debt limit to avoid a first-ever default after Oct. 17. Chances of a last-minute deal — […]

    / Oct 1, 2013 at 9:26 AM
  • motherinlawrevenge

    Opening Bell

    Opening Bell: 09.30.13

    First U.S. Shutdown in 17 Years at Midnight Seen Probable Republicans and Democrats in Congress say they don’t want to close the government, though neither side is budging from their positions to avoid it. House Republicans want to delay President Barack Obama’s Affordable Care Act for a year and make other changes to the health […]

    / Sep 30, 2013 at 9:28 AM
  • Steve-Ballmer2

    Opening Bell

    Opening Bell: 09.27.13

    No Clear Path to Avoid Shutdown as House GOP Stands Firm (WSJ) The Senate is expected to pass a bill Friday that would fund the government for the first 1½ months of the new fiscal year. But Senate Democrats plan to restore money for the Affordable Care Act that House Republicans had stripped out, leaving […]

    / Sep 27, 2013 at 7:26 AM
  • cookiemonster

    Opening Bell

    Opening Bell: 09.26.13

    Deutsche Bank Proposes Creating Bond Platform With Rivals (Bloomberg) Deutsche Bank is trying to drum up interest with some of its largest competitors to create a multi-dealer U.S. bond trading platform at the same time that asset managers discuss ways to make buying and selling debt easier, according to people familiar with the matter. Europe’s […]

    / Sep 26, 2013 at 8:55 AM
  • benmosche

    Opening Bell

    Opening Bell: 09.25.13

    ICAP Former Brokers Face Felony Charges in Libor Case (Bloomberg) Three former ICAP Plc employees were charged by U.S. prosecutors and the interdealer broker was fined $88 million as the five-year-old probe into the rigging of benchmark interest rates ensnared another financial institution. The brokers were charged with two counts of wire fraud and conspiracy […]

    / Sep 25, 2013 at 9:25 AM
  • 9836-burger-king

    Opening Bell

    Opening Bell: 09.24.13

    JPMorgan Chase, 12 More Banks Said to Be Sued Over Libor (Bloomberg) JPMorgan Chase & Co., Barclays Plc, Credit Suisse Group AG and 10 other international lenders were sued by a U.S. credit union regulator alleging they illegally manipulated benchmark Libor interest rates. The National Credit Union Administration, an Alexandria, Virginia-based regulator, said it sued […]

    / Sep 24, 2013 at 7:48 AM
  • angela_merkel_popularity_germany_2012_02_29

    Opening Bell

    Opening Bell: 09.23.13

    Yellen Would Bring Tougher Tone To Fed (WSJ) Ms. Yellen, the Fed vice chairwoman, is highly regarded by many central bank staff members, who call her an effective leader with a sharp mind. But she has clashed with others and left some hard feelings in the wake of those confrontations, according to interviews with more […]

    / Sep 23, 2013 at 7:15 AM
  • 120514_jamie_dimon_facts_reuters_328

    Opening Bell

    Opening Bell: 09.19.13

    JPMorgan Agrees to Pay $920 Million for London Whale Loss (Bloomberg) JP Morgan, seeking to end probes of a $6.2 billion trading debacle, admitted to violating federal securities laws and agreed to pay about $920 million for failing to implement adequate controls and providing incomplete information to regulators and its board. Senior management knew in […]

    / Sep 19, 2013 at 9:30 AM
  • whitecastleburgers

    Opening Bell

    Opening Bell: 09.18.13

    BOE Officials See No Case for More Stimulus (Bloomberg) Bank of England policy makers voted unanimously to keep policy unchanged this month as an improving economic outlook prompted agreement that no more stimulus was needed. In a switch from August, when some Monetary Policy Committee members saw a “compelling” case for a loosening of policy, […]

    / Sep 18, 2013 at 9:30 AM
  • Talking to bank examiners right now, in fact

    Opening Bell

    Opening Bell: 09.17.13

    Ex-JPMorgan Employees Indicted Over $6.2 Billion Loss (Bloomberg) Javier Martin-Artajo, who oversaw trading strategy for the synthetic portfolio at the bank’s chief investment office in London, and Julien Grout, a trader who worked for him, were named in the indictment, which was unsealed yesterday in federal court in Manhattan. The U.S. announced preliminary charges against […]

    / Sep 17, 2013 at 9:30 AM

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