(This Oct. 19 story was refiled to fix reporter's name in byline)
- Unable to reach a compromise with JPMorgan Chase & Co over the use of the term "smart" in relation to its lucrative retirement savings products, major life insurance provider MassMutual is taking the banking company to court.
- UBS AG is sticking with its recommendations that some clients buy risky Puerto Rico closed-end bond funds, despite hundreds of arbitration claims by investors who blame the securities for huge losses, according to an internal document.
NEW YORK - Morgan Stanley , which has spent three years throwing out bad apples from its fixed income trading portfolio, now wants to put the freed up money into businesses that bear healthier fruit.
- Morgan Stanley reported an 87 percent rise in third-quarter earnings as the Wall Street bank's trading, investment banking and wealth management businesses benefited from increased client activity and a hot equity market. | Video
- Morgan Stanley reported an 87 percent rise in third-quarter earnings as the Wall Street bank's trading, investment banking and wealth management businesses benefited from increased client activity and a hot equity market.
ZURICH - Credit Suisse appointed two new investment banking bosses on Friday and promoted them to its top ranks, a move likely to raise fresh questions over its appetite to scale back a unit hit by volatility and lacklustre profits.
- Goldman Sachs Group is in discussions to acquire IndexIQ, a Rye Brook, New York-based exchange-traded fund provider, according to three sources familiar with the situation.
LONDON - Europe's banking regulator expects Britain and all other member countries to accept its opinion saying banks should change how they pay "allowances" to staff, a leading regulator said.
LONDON - BNP Paribas Investment Partners is buying stocks and selling government bonds, arguing the recent slump in global equities and surge in high-rated bonds does not reflect economic conditions, the head of its tactical allocation team said on Thursday.