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Financials News

Morgan Stanley quarterly profit more than doubles

Wall Street bank Morgan Stanley's (MS.N) quarterly adjusted earnings more than doubled as stronger performances by its investment banking and wealth management businesses more than made up...

Posted on 7-17-2014 at 7:46 AM

Litigation costs hit Bank of America quarterly profit

Bank of America Corp, the second-largest U.S. bank by assets, reported a 43 percent drop in second-quarter profit as mortgage revenue fell and litigation costs soared.

Posted on 7-16-2014 at 8:09 AM

Higher investment gains boost Goldman profit

Goldman Sachs Group Inc. reported a better-than-expected 5 percent rise in second-quarter profit, driven by strong gains in equity investments and higher revenue from investment banking.

Posted on 7-15-2014 at 8:21 AM

JPMorgan profit falls 8% as fixed-income trading income slides

JPMorgan Chase & Co, the biggest U.S. bank by assets, reported an 8 percent decline in second-quarter profit as a pullback in trading of bonds and currencies by big institutions hit...

Posted on 7-15-2014 at 8:11 AM

Citi profit hit by shoddy mortgage securities charge

Citigroup Inc. reported a 96 percent drop in quarterly earnings after taking a charge of $3.8 billion related to a $7 billion settlement with the U.S. Department of Justice over the sale of...

Posted on 7-14-2014 at 8:28 AM

Citi agrees to pay $7B to settle U.S. securities investigation

Citigroup Inc. said it agreed to pay $7 billion to settle a U.S. government investigation into mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis.

Posted on 7-14-2014 at 7:24 AM

Wells Fargo reports slight profit rise, says economy improving

Wells Fargo & Co., the largest U.S. mortgage lender, reported a 3 percent rise in quarterly profit and said it was seeing a number of signs that the U.S. economy was improving.

Posted on 7-11-2014 at 8:37 AM

Citigroup to pay $7B to resolve U.S. mortgage probes

Citigroup Inc. is close to paying about $7-billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the...

Posted on 7-09-2014 at 10:52 AM

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