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Bank of America said Friday its second-quarter net income rose 15 percent to $2.78 billion as improvements in the company's consumer loan businesses made up for a drop in trading revenue.
JPMorgan Chase & Co. said Thursday its second-quarter net income soared 77 percent to $4.8 billion as a slowdown in losses from failed loans helped offset a difficult spring in trading and investment banking.
Big banks facing big drops in revenue are looking to Main Street to make up the difference.
KKR & Co. LP, the parent of private equity firm Kohlberg Kravis Roberts, said Tuesday that it will list its shares on the New York Stock Exchange on July 15.
Billionaire investor Warren Buffett on Wednesday defended credit rating agencies that gave overly positive grades to mortgage-related investments before the housing bust. He said the agencies were among many who missed warnings signs of the crisis.
Regulators and Wall Street officials scoured millions of trades one by one Friday and canceled thousands as they sought to explain a record plunge in the stock market, undo the damage and keep it from happening again.
The downgrading of European debt is turning up the heat on the firms that issue the ratings.
Goldman Sachs executives emerged mostly unscathed from a Senate grilling. The company's stock did even better.
Goldman Sachs Group Inc. is fighting to clear its name, but not in a court of law.
As the U.S. housing turned downward in January 2007, a Goldman Sachs trader wrote in e-mails to a woman he apparently was courting that investments he had sold were "like Frankenstein turning against his own inventor."
Goldman Sachs says the executive at the center of the government's civil fraud case is voluntarily taking some time off from work.
Goldman Sachs has shown with its eye-popping quarterly profits that it is still the king of Wall Street, but the crown has lost some of its luster.
Goldman Sachs stepped up its defense against civil fraud charges Monday, telling clients it did not withhold information in a complex transaction involving risky mortgage securities. But a big question was: Will other big investment banks face similar charges?
Citigroup Inc. provided more evidence Monday that the nation's big banks may have turned a corner. The bank reported a surprise first-quarter profit as trading revenue offset losses from failed loans.
While Goldman Sachs contends with the government's civil fraud charges, an equally serious problem looms: a damaged reputation that may cost it clients.
A murky financial product created and sold by Goldman Sachs helped a Wall Street hedge fund pocket huge profits from the housing crash at the expense of unwitting investors, the Securities and Exchange Commission has alleged.
JPMorgan Chase & Co. reported a $3.3 billion first-quarter profit on big gains in the financial markets even as the Obama administration pressed for limits on banks' trading of risky but lucrative investments.
Wall Street is hiring again.
Being big could pay off for battered banks this earnings season.
American International Group Inc. CEO Robert Benmosche received $2.7 million in compensation for 2009 as the bailed-out insurer began selling assets to repay government loans, an Associated Press analysis of a securities filing shows.
Goldman Sachs Group Inc. is denying that it bet against clients by selling them mortgage-backed securities while reducing its own exposure to such investments before the U.S. housing market crashed.
Former Morgan Stanley CEO John Mack's compensation fell 24 percent to $939,241 in 2009 as the bank repaid federal bailout money and returned to profitability after the financial crisis, an Associated Press analysis of regulatory filings shows.
The nation's banks suddenly find themselves under pressure to throw greater lifelines to their most troubled mortgage borrowers. But don't expect every struggling borrower to get a bailout.
The Obama administration's pay czar is launching a review of compensation for 25 top executives at all financial firms that received federal bailout money, according to three people familiar with the plan.
A Lehman Brothers whistleblower warned his bosses that accounting gimmicks the bank used before its collapse may have been illegal, his lawyer said Friday.
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