News Tag: US banks
January 22, 2010
US President Barack Obama is proposing a severe crackdown on financial institutions in the US which has sent stock markets around the globe into decline.
Yesterday, the Dow Jones closed down 2% - its worst decline since October, while Japan's Nikkei lost 3.6% - the biggest weekly loss in three months and closing a three-week low.
Hong Kong’s Hang Seng ...
Global markets in decline after Obama proposals
by Kay Murchie
January 21, 2010
Wall Street bank Goldman Sachs has today reported its fourth quarter results with net profits at $4.95 billion (£3.06 billion) compared with a loss of $2.12 billion in the same period a year earlier.
For the 2009 year, the bank made a net profit of $13.39 billion, up from $2.32 billion in the previous year.
The results come just a few days ...
Goldman Sachs results beat expectations
by Kay Murchie
October 16, 2009
Bank of America has today unveiled a $1 billion (£612 million) net loss for the third quarter - worse than the market had expected.
The figure compares with a net profit of $3.2 billion in the second quarter and $1.2 billion in the same period a year earlier.
The banking giant is the fourth major US bank to report its quarter ...
Bank of America unveils $1bn Q3 loss
by Kay Murchie
October 15, 2009
There has been mixed news today across the Atlantic after banking giant Goldman Sachs exceeded analysts expectations while Citigroup posted a quarterly loss.
Goldman Sachs said net earnings for the third quarter were $3.19 billion (£1.96 billion), compared with $845 million in the same period a year ago (prior to the collapse of Lehman Brothers).
However, while the figure was up on ...
Goldman Sachs and Citigroup announce results
by Kay Murchie
July 17, 2009
Citigroup and Bank of America have surprised analysts by reporting better than expected second-quarter results.
Results from both banks have followed hot on the heels of strong results from fellow US Banking giants, JPMorgan Chase and Goldman Sachs.
Citigroup posted a $4.3 billion second quarter profit due to gains on its Smith Barney deal. However, the bank which has received $45 ...
Citigroup & Bank of America exceed market expectations
by Kay Murchie
April 28, 2009
There are suggestions that the financial turmoil is still in full swing after US banking giants, Citigroup and Bank of America, have been instructed to raise billions of dollars of extra capital to cover future losses, according to the Wall Street Journal.
The findings were uncovered following US Government stress tests on both banks, carried out to ...
Citigroup and Bank of America need more funds to cover losses
by Kay Murchie
April 17, 2008
Wall Street bank, JPMorgan Chase, announced a 50% fall in its first quarter profits as the bank was hit by a $5.1 billion (£2.5 billion) sub-prime write-down.
Revenue for the first quarter fell by 11% to $16.9 billion, marginally ahead of analysts who were expecting turnover at $16.8 billion.
America's third biggest bank, which bailed out its rival Bear ...
JPMorgan Chase announces $5.1 billion sub-prime write-down
by Kay Murchie
