Roundup of world financial, banking and stock market news.

Friday, 15 January 2010

JPMorgan Earnings Blow Past Expectations, Revenue Looks Light, Consumer Lending Still Very Ugly


From The Business Insider, Jan. 15, 2010:And they're out.
EPS of $.74 per share blew past estimates of $.61 per share. But revenue of $25.2 billion may be a bit light.
Analysts had been looking for $26.8 billion.
The

"Shocking ... Unbelievable": Wall Street to Pay Record $145B in Bonuses, WSJ Says


Undeterred by the rising anger on Main Street and the populist backlash in Washington D.C., Wall Street firms are poised to pay record bonuses for 2009.Financial firms are on track to pay over $145 billion in bonuses for 2009, according to estimates from

Banks Still Coping With Credit Crisis "Hangover," WSJ's Craig Says


JPMorgan Chase kicked off bank earnings season Friday with a loud thud. Quarterly profit quadrupled to $3.3 billion but revenue was worse than expected thanks to rising consumer credit costs."The devil was in the details," says Wall Street Journ

Bonuses "Nightmare" for Washington: Can Big Shareholders Save the Day?


With foreclosures rising and unemployment at 10%, it's no surprise America is in the grips of "bonus bonanza backlash."As Wall Street prepares to announce what could be

Wednesday, 6 January 2010

Wall Street's Memo to Meredith Whitney: You're So 2009


Need more evidence the bulls are in command on Wall Street? Look no further than Meredith Whitney. Tuesday, the lionized banking analyst lowered her forecast on Goldman Sachs. Guess what? The stock ended the day higher.

Come On Ben Bernanke, Come Clean!


Say it ain't so Ben. Federal Reserve Chairman Bernanke recently blamed lax regulation for the financial crisis -- not the Fed's easy money policies, which encouraged profligate spending from Wall Street traders to American consumers. ...

Wall Street Wins Again? Democrats Dodd, Dorgan to Retire


The planned retirements of Democratic Senators, Byron Dorgan of North Dakota and Christopher Dodd of Connecticut is a potential blow to President Obama's agenda. ...