Goldman Sachs Q2 Profit Drops 11% (GS)

18 Jul 2012 @ 00:50
Wall Street giant Goldman Sachs Group Inc. (NYSE:GS) today reported an 11% decline in its second-quarter profit as investment banking revenue fell due to a slowdown in M&A activity.

Bank Stocks Rise Sharply after JP Morgan and Wells Fargo Report Q2 Results (JPM, WFC)

14 Jul 2012 @ 05:20
Bank stocks rose sharply in trading on Friday after JP Morgan Chase & Co. (NYSE:JPM) and Wells Fargo & Co. (NYSE:WFC) reported solid second-quarter financial results.

Barclays CEO Bob Diamond Resigns Amidst Scandal

03 Jul 2012 @ 21:21
Barclays’ (LSE:BARC) Chief Executive Officer Bob Diamond finally gave in and tendered his resignation with immediate effect a day before a parliamentary inquiry probes into the interest rate manipulation scandal the bank was accused of last week. Calls for his resignation were heard from the top officials of the British Government, including the Prime Minister […]

FSA Finds Four Major UK Banks Guilty of Mis-selling Financial Products

29 Jun 2012 @ 19:56
Four major British banks have found themselves in the middle of another scandal as UK’s Financial Service Authority (FSA) discovered “serious failings” in the sale of hedging products designed to cover small and medium sized businesses from interest rate fluctuations. The financial watchdog named Royal Bank of Scotland (LSE:RBS), HSBC (LSE:HSBA), Lloyds Banking Group (LSE:LLOY), […]

CEO Faces Resignation Calls as Rate Manipulation Scandal Drives Barclays Stocks Down

29 Jun 2012 @ 01:14
Barclays plc (LSE:BARC) Chief Executive Officer Bob Diamond is now facing mounting pressures from shareholders and authorities following the LIBOR rate manipulation scandal that caused the British bank to pay £290 million in penalties and hurt its market value in London trading today. Strong statements were heard from British Prime Minister David Cameron and Chancellor […]

Is Confidence in RBS Shares Being Restored?

28 Jun 2012 @ 00:29
Royal Bank of Scotland (LSE:RBS) shares were on the upswing today, 27 June 2012, after losing ground daily since 22 June when a “computer glitch” brought the bank to its operational knees along with subsidiaries, NatWest and Ulster Bank.  RBS share price plunged from 243.20 on 22 June to 227.70 on 26 June.  The Bank […]

RBS Rebuffs Moody's on News of Downgrades

23 Jun 2012 @ 00:33
The beleaguered RBS Group (LSE:RBS) came out swinging this morning in a sharply-worded statement, criticising Moody’s latest ratings released last evening.  Although the group’s share price dropped slightly following the opening bell this morning, it quickly recovered and was at 243.00 pence by 1:00 p.m. UTC.  Given the banks woes over the past year, and […]

Euro Crisis : Banks Downgraded

22 Jun 2012 @ 22:41
Fifteen major global financial institutions were downgraded by Moody’s late last night, reflecting losses the ratings agency says are likely due to the current, ongoing volatile state of capital markets. Affected lenders included British banking giants Barclays, HSBC, RBS and Lloyds as well as Credit Suisse. The Swiss institution was dealt the harshest and most unexpected blow as...

RBS Announces New Retail Exec and First Quarter Results

07 May 2012 @ 23:56
Royal Bank of Scotland Group (LSE:RBS) shares continued their bumpy ride since 2008, even after its rather healthy Interim Management Report for the first quarter was issued on Friday morning. RBS stock closed at 24.47p, down a modest 0.33% on trading of 184,525,074 shares. In a rare move during a banking holiday, RBS announced this morning […]

Standard Chartered Charting Well for 2012

02 May 2012 @ 23:30
Standard Chartered (LSE:STAN) announced high single-digit growth in revenue in an Interim Management Report for the first quarter of the fiscal year issued this morning.  Oddly, share prices dropped over 3.5% to 1,458.50 by mid-afternoon. The Report In addition to the revenue growth, they reported the low double-digit growth in operating profit during the last […]
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