How important is pay to the average multi-millionaire investment bank executive?
Goldman Sachs, the most profitable firm on Wall Street, announced last week that it will set aside $500 million for "10,000 Small Businesses," a charity co-sponsored by famed investor Warren Buffett and devoted to helping small American businesses survive the economic crisis.
Despite some signs that the economy is on the mend, a lack of confidence from consumers and companies alike may hamper job growth during the next few months, economists say.
U.S. stocks were set to fall Friday after the government reported higher-than-expected payroll losses for October and an increase in unemployment.
Is the Fed about to hit the brakes on the Wall Street gravy train?
U.S. stocks were poised to open higher Wednesday, as Wall Street cheered a number of Republican election wins ahead of the Federal Reserve's latest policy meeting decision.
U.S. stocks were poised to pull back at Friday's open as investors caught their breath after the previous session's rally and awaited the latest measures on the health of the consumer.
Stocks were headed for a flat open, following two straight losing sessions, as investors showed little reaction to a report of rising home prices.
The national rage directed at Wall Street seems to be intensifying.
Question: I'm 30 years old and have savings of about $50,000. I've never invested in stocks or mutual funds, but I would like to start. Can you recommend some resources that can help educate me about investments and give me a better understanding of how they work? --Suresh T., Jacksonville, Florida
How important is pay to the average multi-millionaire investment bank executive?
Goldman Sachs, the most profitable firm on Wall Street, announced last week that it will set aside $500 million for "10,000 Small Businesses," a charity co-sponsored by famed investor Warren Buffett and devoted to helping small American businesses survive the economic crisis.
Despite some signs that the economy is on the mend, a lack of confidence from consumers and companies alike may hamper job growth during the next few months, economists say.
U.S. stocks were set to fall Friday after the government reported higher-than-expected payroll losses for October and an increase in unemployment.
Is the Fed about to hit the brakes on the Wall Street gravy train?
U.S. stocks were poised to open higher Wednesday, as Wall Street cheered a number of Republican election wins ahead of the Federal Reserve's latest policy meeting decision.
U.S. stocks were poised to pull back at Friday's open as investors caught their breath after the previous session's rally and awaited the latest measures on the health of the consumer.
Stocks were headed for a flat open, following two straight losing sessions, as investors showed little reaction to a report of rising home prices.
The national rage directed at Wall Street seems to be intensifying.
Question: I'm 30 years old and have savings of about $50,000. I've never invested in stocks or mutual funds, but I would like to start. Can you recommend some resources that can help educate me about investments and give me a better understanding of how they work? --Suresh T., Jacksonville, Florida
Without any experience in automaking or government, Steven Rattner left his Wall Street perch to wade into the largest restructuring in American history. The scale and speed of the rescue raised many questions, inspiring Rattner to write this account of a defining moment in capitalism.
U.S. debt prices were mixed Monday as stocks hit one year highs and investors braced for a week filled with corporate results.
Powered by a gush of strong earnings reports, the Dow has finally ballooned above 10,000 again. But could this most recent leg of the market rally turn out to be a cruel hoax?
Wall Street needs to focus more on helping Main Street than self-enrichment, two of President Obama's top advisers said.
Wall Street's job woes don't appear to be over just yet.
With Wall Street continuing to recover, so are the prospects for this year's bonus season.
U.S. stocks were set to open lower Friday after a government report showed durable goods orders declined in August.
U.S. stocks were set to slide at Monday's open, as investors pause in the recent surge on Wall Street.
Journalism is often called the first draft of history. The credit crisis has presented an unusually large share of professional scribes a chance to make their marks for posterity.
U.S. stocks appeared set for a positive start Wednesday as upbeat sentiment about the economic outlook carried over from the previous session.
It's been 12 months since Lehman Brothers failed, setting off a chain reaction that came horrifyingly close to destroying the world's financial system.
Reports of the stock rally's demise have been greatly exaggerated, with September so far managing to eschew a much-predicted selloff. A torrent of economic news this week could turn the tide.
"It takes two to make an accident.... I hate careless people." -- Jordan Baker, the shady golf pro in "The Great Gatsby"
Sunburned and barbecued out, Wall Streeters returning to work Tuesday face the first big challenge to the six-month-old rally.
After two of the worst bear markets in history, you're probably craving reassurance. Well, the mutual fund industry is hungering to give it to you.
Arena Resources has pleased investors with rocket-fueled growth, but the oil and gas producer seems to have hit a wall.
The U.S. government began a record weekly sale of $200 billion in Treasury debt Monday with two issues that met solid demand.
U.S. stocks were set to open flat Monday as investors looked to another deluge of corporate reports for direction after the recent surge on Wall Street.
The Nasdaq fell Friday, ending a 13-session winning streak after Microsoft reported a weaker-than-expected quarterly profit. But the broader market mustered gains at the end of an up week on Wall Street.
Treasury prices rose Monday as investors brace for several key economic reports due out later in the week.
Yes, the federal government does a lot of stupid things. And yes, it's easy to see why Wall Street firms are bailing out of the Troubled Asset Relief Program: to avoid having to deal with the government's ever-changing rules and with publicity-hungry congressmen. (Is there any other kind?) But that doesn't excuse the way that Wall Street is engaged in selective memory now that the government has shelled out trillions of taxpayer dollars to keep the Street alive. Wall Street, which I define as our major financial institutions, is complaining that the government is messing up the financial system through its attempts at reregulation, its new credit card rules, and its invention of things such as a pay czar.
The so-called brain drain that big banks have worried about ever since the government stepped in to bail out the financial sector appears to be well underway.
After three months of rallying, the stock market seems to have hit the wall.
Two undocumented workers from Mexico and one from Ecuador have reached court settlements in recent weeks for a total of $3.85 million in damages for New York construction-site accidents, an attorney for the men announced Wednesday.
On a sunny Friday morning, Shonda Warner and I are in her red Toyota pickup heading southwest on Highway 61 out of Clarksdale, Miss., on our way to see one of her farms. While her black standard poodle, Walter, naps in the back seat, she's explaining the pitfalls of being an institutional land investor.
Two weeks change a lot in the oil markets.
Stocks struggled Friday at the end of another up week for Wall Street as investors welcomed a report showing that the pace of job losses is starting to slow, but showed caution after the market's recent advance.
Wall Street will return for the first trading day of a new month Monday with the economic outlook still unclear and the bankruptcy of a major American business icon looming large.
Stocks ended a choppy session higher Friday after a late-session rally pushed the major indexes to their biggest three-month run since 2007.
U.S. stocks were set to rise at Friday's open, as momentum from the previous session's rally held up and oil prices rose.
A stock selloff accelerated Wednesday afternoon after an auction of U.S. debt generated lukewarm interest, adding to jitters over a looming bankruptcy for General Motors.
Maybe the so-called "zombie" banks didn't die after all.
Investors will return from the long weekend for what could be a pivotal moment on Wall Street.
Stocks closed sharply lower Thursday as optimism about a global economic recovery was tempered by mixed data and a potential downgrade of the United Kingdom's credit rating.
Stocks ended lower Wednesday, erasing earlier gains, as the Federal Reserve's dour economic outlook curbed optimism about the health of U.S. banks.
Oil rose Tuesday, although it eased from an earlier six-month high over $60 a barrel, as investors digested a tepid advance on Wall Street and waited for a supply report expected to show a dip in inventories.
U.S. stocks were set for a lackluster open Tuesday, as investor sentiment suffered a blow from dismal housing reports.
Treasury prices dropped Monday as investors digested a triple-digit rally on Wall Street and another purchase operation by the government.
Is something very wrong with our financial system when the nation's biggest banks are talking about seven-figure bonuses while ever more Americans are losing their jobs? Millions of people seem to think so: If we could calculate an outrage index, it would be marching toward an all-time high. But before we institute public floggings for bankers, let's take a closer look at who or what is really to blame.
Oil prices settled slightly higher Thursday, giving back strong gains from earlier in the session, after a big selloff on Wall Street overshadowed optimism about the economic outlook and future energy demand.
Oil prices ended above $53 a barrel Friday for the first time in more than a month as new economic reports showed that the nation's recession may be easing.
Treasurys fell Wednesday, erasing earlier gains, as investors sought higher returns in the stock market despite mixed corporate results.
After 2008, it's understandable that the average American would be mad as hell at America's business leaders. Executives, even in a good year, tend to rank toward the bottom in credibility with the public, down around congressmen and journalists. The current economic crisis provides all the ammo for a populist backlash, as you - and your portfolio - know too well. The Fortune 500 portion of your 401(k) collapsed 37% last year (measured in total market value), while the earnings of the 500 were even more of a disaster, dropping 85%.
Stocks turned mixed Tuesday morning after falling in the early going, as investors considered a range of quarterly results but also opted to dip back in after the previous session's retreat.
Asian and Pacific markets tumbled on Tuesday, following a rocky day on Wall Street.
It's already April, and business students would normally be weighing which investment bank's job offer to take. But this year's crop of MBAs faces bleak prospects - for the same reason it's hard to place new asset-backed debt. A shrinking and cautious finance industry means lots of already seasoned assets - including people - are available at cheap prices.
Oil prices ended the session higher on Tuesday, just shy of the $50 a barrel threshold, as a Wall Street rally picked up steam late in the trading day.
Investors are looking to close out a surprisingly upbeat March on a high note and start off a make-it-or-break-it April on good terms as the spring rally hits some resistance.
The last full week in the quarter is a critical one for investors as they look for reasons to either resurrect the stalled rally or retreat even further.
To understand what Washington is actually up to, you have to watch what it does, not what it says. That's especially true when it comes to Washington's role in the ongoing bailout of Wall Street, part of its "let's hope this works" plan to revive the U.S. economy.
The Obama Administration's latest bailout plan is as rich with irony as it is with potential.
U.S. stocks pulled back Tuesday as investors showed caution the day after Wall Street posted one of its best sessions in months.
A triple-digit rally on Wall Street pushed Asian and Pacific markets solidly into positive territory on Tuesday.
The House of Representatives passed legislation Thursday to try to recoup bonuses paid to Wall Street executives with taxpayer money.
The House of Representatives passed legislation Thursday to try to recoup bonuses paid to Wall Street executives with taxpayer money.
While Washington's attacks on Wall Street bonuses have reached a fever pitch - "outrageous," declared President Obama's economic advisor Larry Summers on Sunday about AIG's bonuses - this latest round of firepower is being leveled at forces already in retreat.
Investors return to work on the back of Wall Street's best week in months - and that's both a good and bad thing.
In case you hadn't noticed, Americans are having a rough time with the New World Order as it applies to saving the economy.
Stocks jumped Thursday, gaining for the third session in a row, as investors scooped up banks and other shares hit in a selloff that left the Dow at 12-year lows.
A bull run on Wall Street put a spark in Asian markets Wednesday, pushing them solidly into positive territory.
As the spring buying season begins, luxury homebuilders are not anticipating a fresh start.
Wall Street snapped a 5-day losing streak Wednesday, with the Dow and S&P bouncing off 12-year lows.
Call it a sign of the times. A new national poll indicates that when it comes to dealing with the economy, Americans have more confidence in the White House and Congress than Wall Street, the banks or auto executives.
Few would argue that the lavish paydays enjoyed by Wall Street executives in recent years need to end.
After yet another -- but not-undeserved -- public flogging of Wall Street's remaining CEOs before Congress last week, it has become more than a little obvious that such hearings have lost their ability to be either shocking, entertaining or informative, and are accomplishing little of substance.
Many theories are floating around about what can be done to fix Wall Street: more transparency, greater oversight, even lower pay. But what's really needed, according to one solution, is the return of a personal touch.
Asian and Pacific stocks dipped Wednesday following Wall Street's negative reaction to U.S. Treasury Secretary Timothy Geithner's plan to overhaul the nation's bank bailout plan.
While America reels from the worst economic crisis since the Great Depression, it is time that we take a deeper look at the root causes of our current predicament.
So far the Obama Administration's talk about fixing the economy through buying toxic assets, creating a bad bank, and deploying more TARP funds has left many financiers cold. That's why some leading Wall Street heavyweights including Thomas Flexner, the global head of real-estate investment banking at Citigroup, Wes Edens, the CEO of Fortress Group, and Barry Sternlicht, CEO of Starwood Capital Group, have been quietly circulating their own proposal. FORTUNE recently obtained a copy.
A lot of us were outraged to read new details today about the big bonuses going to those Wall Street bankers. You know, the guys whose companies we are all bailing out at the moment.
One day after President Obama ripped Wall Street executives for their "shameful" decision to hand out $18 billion in bonuses in 2008, Congress may finally have had enough.
Here's a simple idea to prevent Wall Street meltdowns from happening again in the future, brought to you courtesy of the World Economic Forum in Davos: Start paying regulators much, much better.
One of the more repeated comments heard in the after hours chatter in the salons of Davos was that no one from the financial industry has actually apologized for the mess they've created in the global financial system.
One day after President Barack Obama ripped Wall Street executives for their "shameful" decision to hand out $18 billion in bonuses in 2008, Congress may finally have had enough.
Optimism about Barack Obama's first 100 days as president is running high, but Wall Street's post-inaugural celebration may well be short-lived.
Europe joined Asia and Wall Street in a global selloff on the heels of the latest discouraging economic news.
Asian and Pacific markets started the week mostly lower on Monday, reflecting the unsettled nature of the world economy.
As Friday's abysmal jobs report made all too clear, Wall Street's whirlwind holiday romance has ended. Investors are back to reality.
After a strong start to the new year in very light trading, Wall Street gets serious.
Stocks rallied Wednesday, as investors welcomed the end of an abysmal year on Wall Street and looked forward to a better year ahead.
Asian markets fell Tuesday, following the lead taken by Wall Street stocks amid concerns about fourth-quarter corporate earnings, falling oil prices and ongoing woes in the auto industry.
Stocks capped a rocky week on a mixed note Friday, as investors weighed the pros and cons of the Bush Administration's plan to bail out the auto industry.
Tokyo stocks opened only slightly lower Friday after a down day on Wall Street, buoyed by the possibility of an interest rate cut by the Bank of Japan.
Stocks ended lower Wednesday as investors tried to shrug off a bigger-than-expected loss from investment bank Morgan Stanley, but an afternoon rally failed to hold traction.
U.S. stocks fell Wednesday as investors caught their breath after the previous session's rally, and Morgan Stanley reported a staggering loss.
Asian markets rose Wednesday, piggybacking on the Wall Street surge that was fueled by a cut in a key short-term interest rate by the U.S. Federal Reserve.
Europe's major markets were trading higher Tuesday, looking ahead to an expected interest rate cut by the U.S. Federal Reserve later in the day.
Most Asian markets soared on Monday, lifted by hopes of a bailout for America's troubled automakers.
Investors return Monday for the last full trading week of what has been for many an unbelievable, and unbelievably difficult, year on Wall Street.
Asia-Pacific stocks were up Wednesday after a retreat on Wall Street, with Japan's Nikkei index closing more than 3 percent higher.
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