Not every player in banking is getting clobbered these days. BNP Paribas, which sparked part of the very first global credit-crunch panic when it froze three funds on Aug. 9, 2007, may emerge as the bank least affected by the industry's carnage.
French bank BNP Paribas said Wednesday profit and revenue fell for the third consecutive quarter in the April-June period as the global financial crisis continued to weigh on earnings.
The Saudis have finally promised to increase oil output. But energy experts are skeptical it will bring much relief
Credit markets shrugged Friday in the aftermath of a Citigroup Inc. announcement that it would rescue seven troubled investment funds - a sign of just how shaky this key area of the financial markets remains.
For the modern day MBA student the sector is venerated very nearly as much as that of private equity, while to the uninitiated it is almost as mysterious -- welcome to the world of the hedge fund.
The Thai baht will largely be remembered as the spark for the 1997 Asian currency crisis, when its collapse set off a panic in broader financial markets.
Remember when it was all the rage to screen socially and environmentally irresponsible stocks, like sweatshop employers or polluters, from your portfolio? Now a new class of niche investment products has emerged to weed out what some see as even worse: the hoi polloi.
Oil prices fell Thursday, nearing $73 a barrel, giving up some gains from the previous day's 2 percent rise following an unexpectedly large drop in crude and gasoline stocks in top consumer the United States.
European shares snapped a seven-day rally on Tuesday as concern resurfaced about the impact of tight liquidity and high volatility on the corporate sector.
European shares moved in and out of negative territory on Friday as gains in mining and oil stocks offset weaker financial shares, while concerns persisted that problems in the U.S. mortgage market could spread.
Not every player in banking is getting clobbered these days. BNP Paribas, which sparked part of the very first global credit-crunch panic when it froze three funds on Aug. 9, 2007, may emerge as the bank least affected by the industry's carnage.
French bank BNP Paribas said Wednesday profit and revenue fell for the third consecutive quarter in the April-June period as the global financial crisis continued to weigh on earnings.
The Saudis have finally promised to increase oil output. But energy experts are skeptical it will bring much relief
Credit markets shrugged Friday in the aftermath of a Citigroup Inc. announcement that it would rescue seven troubled investment funds - a sign of just how shaky this key area of the financial markets remains.
For the modern day MBA student the sector is venerated very nearly as much as that of private equity, while to the uninitiated it is almost as mysterious -- welcome to the world of the hedge fund.
The Thai baht will largely be remembered as the spark for the 1997 Asian currency crisis, when its collapse set off a panic in broader financial markets.
Remember when it was all the rage to screen socially and environmentally irresponsible stocks, like sweatshop employers or polluters, from your portfolio? Now a new class of niche investment products has emerged to weed out what some see as even worse: the hoi polloi.
Oil prices fell Thursday, nearing $73 a barrel, giving up some gains from the previous day's 2 percent rise following an unexpectedly large drop in crude and gasoline stocks in top consumer the United States.
European shares snapped a seven-day rally on Tuesday as concern resurfaced about the impact of tight liquidity and high volatility on the corporate sector.
European shares moved in and out of negative territory on Friday as gains in mining and oil stocks offset weaker financial shares, while concerns persisted that problems in the U.S. mortgage market could spread.
BNP Paribas, France's biggest publicly-listed bank, said on Thursday it will reopen three funds next week that it had frozen amid subprime volatility in a step that accelerated a slide in financial stocks.
Wall Streeters got a break Friday when the Federal Reserve cut the discount rate - goosing market confidence.
During times of market turmoil it helps to simplify and talk basics -- explain things to the public and even yourself in terms of what can be easily understood.
European shares rose on Monday led by miners and financials in an extended rebound amid relief provided by the U.S. Federal Reserve's discount rate cut on Friday, which also boosted U.S. and Asian stock markets.
European stocks rose on Monday, as a sharp rally in the mining and industrial sectors helped the market resume Friday's recovery in the wake of the surprise discount rate cut by the U.S. Federal Reserve.
The Federal Reserve announced Friday that it has approved a half-percentage point cut in its discount rate on loans to banks
European shares returned to negative territory in choppy trade at midday on Friday as mining and chemical stocks slipped while concern mounted that a global credit crunch could slow growth.
European stocks climbed Friday after the Federal Reserve cut the rate at which it lends funds to banks by half a percentage point to 5.75 percent, soothing credit fears.
Oil climbed to nearly $73 a barrel Wednesday as fears that output in the U.S. Gulf could be cut by a gathering storm outweighed growing unease over a global credit crunch.
While financial markets continue to be at their rockiest in half a decade, solid information is most crucial
The Federal Reserve injected an additional $2 billion into the banking system Monday, marking the second time in as many sessions that the central bank has taken steps to help soothe jittery financial markets.
Another rough day on the subprime front. AIG, the world's largest insurer and one of the biggest mortgage lenders, said residential mortgage delinquencies and defaults are becoming more common among borrowers in the category just above subprime.
Problems in the mortgage market have had a ripple effect, and the actions by European banks have spooked the markets
U.S. stocks are likely to take another beating Friday, as the spreading credit crisis roils markets around the world.
U.S. stocks look set for a rough open Thursday after posting three straight sessions of gains.
Bond prices surged Thursday as investors sought shelter as the equity market tumbled amid continued credit market fears.
Major central banks swept in to calm credit markets spooked by mounting losses Thursday, with the European Central Bank injecting record amounts of cash to prevent the financial system from seizing up.
The U.S. Treasury department said Thursday it was keeping a close eye on financial market activity as stock prices slumped in early trading on worries about subprime mortgage sector problems.
Stocks tumbled and bonds rallied Thursday morning as renewed fears about global credit woes caused investors to dump equities and seek safer havens for their money.
France's biggest listed bank, BNP Paribas, froze €1.6 billion ($2.2 billion) worth of funds Thursday, citing the U.S. subprime mortgage sector woes that have rattled financial markets worldwide.
The Dow industrials plummeted more than 200 points at the start of Thursday's session following more credit worries from BNP Paribas and AIG.
U.S. stocks skidded at the start of trading Thursday as the credit crisis continued to bother investors.
Question 1: Are mutual funds or retirement plans protected in the event of a bankruptcy or foreclosure? - Anonymous
Oil prices slipped for a fourth day on Wednesday on forecasts of higher refinery production in the United States that would ease worries over fuel supplies during peak summer demand.
Just seven years ago Fortune was predicting that high-flying tech companies would soon displace the oil and auto giants that had been hogging the limelight at the top of the Global 500.
Crude gained $1.00 Friday to settle at $72.81, the highest settlement since Aug. 22, 2006, as Nigerian disruptions and OPEC output cuts stirred supply concerns amid rising U.S. refiner demand.
Sterling jumped to a 26-year high versus the dollar for a third day on Wednesday, vaulting $2.02 and showing no signs of vertigo so far against a broadly weak dollar that stayed near record lows versus the euro.
On its face, a drive to force public pension funds to halt investment in companies operating in countries believed to be sponsors of terrorism - primarily Iran - is in full swing. Presidential cand...
Oil prices jumped Wednesday after a report showed supplies of distillates, used to make heating oil and closely watched ahead of winter, showed a surprise decline.
Bonds gained Wednesday, with yields hitting four-week lows, as a surprisingly weak manufacturing survey raised expectations of possible interest rate cuts next year.
Australia & New Zealand Banking ranks no. 423 on FORTUNE's Global 500 this year, with $15.9 billion in revenues, up 26.3% from the previous year. The Melbourne, Australia-based company was ranked no. 490 on the 2005 list. Its 2005 profits were $2.3 billion, up 12.9% from a year earlier.
San Paolo IMI Spa ranks no. 392 on FORTUNE's Global 500 this year, with $16.9 billion in revenues, up 13.3% from the previous year. The Turin, Italy-based company was ranked no. 415 on the 2005 list. Its 2005 profits were $2.5 billion, up 42.2% from a year earlier.
Banco Bilbao Vizcaya Argentaria, S.A. ranks no. 410 on FORTUNE's Global 500 this year, with $16.3 billion in revenues, down 23.4% from the previous year. The Bilbao, Spain-based company was ranked no. 268 on the 2005 list. Its 2005 profits were $4.7 billion, up 35.7% from a year earlier.
Commonwealth Bank of Australia ranks no. 350 on FORTUNE's Global 500 this year, with $18.6 billion in revenues, up 23.2% from the previous year. The Sydney, Australia-based company was ranked no. 406 on the 2005 list. Its 2005 profits were $3.0 billion, up 63.5% from a year earlier.
Santander Central Hispano Group ranks no. 93 on FORTUNE's Global 500 this year, with $53.8 billion in revenues, up 69.3% from the previous year. The Madrid, Spain-based company was ranked no. 155 on the 2005 list. Its 2005 profits were $7.7 billion, up 98.2% from a year earlier. 2005 was a banner year for most Global 500 companies.
Mitsubishi UFJ Financial Group ranks no. 147 on FORTUNE's Global 500 this year, with $37.9 billion in revenues, up 55.1% from the previous year. The Tokyo, Japan-based company was ranked no. 217 on the 2005 list. Its 2005 profits were $6.8 billion, up 116.2% from a year earlier. 2005 was a banner year for most Global 500 companies.
Bank of America Corp. ranks no. 37 on FORTUNE's Global 500 this year, with $84.0 billion in revenues, up 32.6% from the previous year. The Charlotte, North Carolina-based company was ranked no. 52 on the 2005 list. Its 2005 profits were $16.5 billion, up 16.4% from a year earlier. 2005 was a banner year for most Global 500 companies.
Oil prices fell Wednesday, hovering near six-month lows, after the government said supplies of distillates used for heating swelled far more than expected.
The price of crude oil plummeted $2.35 settling at $74.00 a barrel on the NYMEX Thursday, matching its second largest price drop of the year, but oil analysts were divided on whether the market was responding to news of a thwarted terror plot targeting trans-Atlantic flights.
Oil prices climbed almost $1 dollar a barrel Wednesday even though the government said crude supplies rose more than expected.
DENIS SASSOU-NGUESSO, President of the Republic of Congo, was back in New York City in early June, his first visit since last September, when his $82,000 Palace Hotel bill made headlines in this ma...
Denis Sassou-Nguesso, President of the Republic of Congo, was back in New York City in early June, his first visit since last September, when his $82,000 Palace Hotel bill made headlines in this magazine and elsewhere.
Bonds were mixed in thin trade Friday after a key measure of inflation rose in line with forecasts.
Treasury bonds tumbled Tuesday, sending yields sharply higher, as investors eyed a stronger-than-expected reading on inflation and remarks from Federal Reserve Chairman Ben Bernanke.
His country may be war-torn, bankrupt, and mired in poverty, but that didn't stop Republic of the Congo President Denis Sassou-Nguesso, newly elected African Union chairman, from racking up an $81,...
Oil prices gained a dollar to hit a new settlement high above $61 Monday as the market weighed the death of Saudi Arabia's King Fahd, a string of refinery outages and tensions over Iran's nuclear ambitions.
The dollar climbed to a seven-month high against the euro Thursday on government news that the economy had grown faster than early estimates had predicted but still fell short of Wall Street expectations.
The dollar soared Wednesday as investors mulled the likelihood of faster interest rate hikes to control inflation, while bonds bounced back from the previous day's sell-off.
The dollar weakened further Wednesday, deepening its earlier decline amid momentum-driven trading after China reignited market talk of a currency revaluation. Bonds traded mixed.
The euro hit a record high against the dollar on Thursday while bond prices continued to fall after a slew of economic reports in thin pre-holiday trading.
Bonds were mixed and the dollar rose against the euro and yen Tuesday in quiet trading ahead of the holiday.
Treasuries sank Friday as job growth came in twice as strong as some estimates, sparking renewed hope of an economic boom.
U.N. investigators have released the names of some 4,500 firms that did business with the former regime in Baghdad.
Treasury prices traded flat on Friday, as investors reconsidered hopes the Federal Reserve might soon pause in its campaign to hike U.S. interest rates.
Treasury prices fell Friday, hit by end-of-week profit-taking after a key consumer sentiment report was not as weak as some dealers had suspected.
U.S. Treasury prices rose Monday as oil prices remained near the $40 level, causing some analysts to believe the cost of crude could influence an upcoming decision on interest rates.
Miners and tech issues pushed European shares to a lower close on Wednesday, but hints by Federal Reserve Chairman Alan Greenspan that U.S. interest rate hikes may not be imminent helped the market partly trim its losses.
Treasury prices turned sour in late trading Monday as investors were wary of making any drastic moves ahead of key testimony this week from Federal Reserve Chairman Alan Greenspan.
Treasury prices fell Thursday after a surprise upward revision to the Federal Reserve's favored inflation gauge, while weekly jobless claims data hinted at improvement in the labor market.
Treasury prices rose Monday as investors looked to fixed-income securities amid concerns of further violence in the Middle East and political turmoil in Asia.
Lehman Bros. had a bang-up first quarter and it looks like it wasn't alone.
Treasury prices erased early losses Thursday after a regional manufacturing survey proved softer than expected, although activity was still high by historical standards.
REVENUES % change RANK from 2001 2000 $mil. 2000
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