It’s earnings season on Wall Street, and earnings at the biggest financial firms have been mostly down, lower profit means paring expenses, cost-saving means cutting comp, or showing some employees the door. And indeed, the 18,000 jobs The Wall Street Journal says the six biggest U.S. banks have cut in the last year are just Read More
Libor-ated: The U.S. Department of Justice is building criminal cases against financial institutions and individuals involved in the manipulation of interbank lending rates, according to The New York Times. Deutsche Bank agreed to cooperate with the European Commission’s Libor investigation, reports Der Spiegel. Prosecutors in New York, Connecticut, Florida and Massachusetts are looking Read More
“The old paradigm that I’m trying to get rid of is that space is for governments and the super-rich, and it takes years, and it costs millions of dollars, and I say this is just wrong” said Peter Platzer, an Austrian-born former CERN physicist and hedge fund quant who was in town to promote his Read More
1 percent problems: Steven M. Davidoff digs into reports on private equity and finds an industry in transition: Private equity’s share of takeover deals more than halved last year compared against the first six months of 2007, and the industry is sitting on more than $900 billion in dry powder, which—along with cash-flush corporations Read More
So, Deutsche Bank settled a U.S. attorney’s lawsuit for $202.3 million in damages and civil penalties, prosecutors said today, following allegations that a mortgage unit owned by the German lender falsely certified loans as qualifying for federal insurance. Read More
Deutsche Bank AG will be opening its first office in Downtown Brooklyn after it agreed to take 50,000 square feet at the JPMorgan Chase-owned 4 MetroTech Center, The Commercial Observer has learned. Read More
Perhaps this constitutes a midlife crisis. After leaving his post as the co-head of investment banking at Deutsche Bank last year (giving a heated 90-minute resignation conference) financier Michael Cohrs and wife Arlene Cohrs have purchased a Tribeca condo for $11.5 million. Read More
In the land of the blind, the cyclops is king — and when it comes to predicting the fate of Wall Street companies, there’s no bigger cyclops than Goldman Sachs, which got its calls for the financial-services industry right 38 percent of the time, according to Bloomberg.
Bloomberg Markets culled the “buy,” “hold” and Read More
