Some of Wall Street's biggest banks are preparing to cut their use of US Treasuries in August as a precaution against any turbulence that could follow if warring Republicans and Democrats fail to increase soon the US debt ceiling, a senior bank chief said.
Shares of big banks could rise 25 percent: Barron's
Shares in big banks like Bank of America (BAC.N), Citigroup (C.N) and Goldman Sachs (GS.N) are undervalued due to economic and regulatory concerns and could rise more than 25 percent in the next year, according to financial weekly Barron's.
Chinese Companies Embark on Shopping Spree in Europe
BRUSSELS - The chairman of China's biggest food company was blunt. "We need to buy a top-three European food company," - Wang Zong Nan told two consultants over Sunday brunch at a downtown Sheraton hotel here.
Sino Forest is the latest company to exemplify what is fast becoming a truism: if a company has Sino or China in its name and was listed abroad via a reverse takeover, shorting it might be a very profitable play.
China economist predicts yuan may stop rising after 2-3 years
The Chinese yuan's steady appreciation could come to an end after two or three years, and the central bank is more likely to use quantitative measures rather than interest rates to check inflation, a former adviser to the central bank said in remarks published on Friday.
TOKYO-Moody's Investors Service said Tuesday it was placing Japan's sovereign debt on review for a possible downgrade, as the government continues to struggle over fiscal consolidation and how to finance reconstruction from the March 11 disasters.
Libya lost billions of dollars on sophisticated financial products sold to Muammer Gaddafi's sovereign wealth fund by some of the world's leading financial institutions, according to a confidential Libyan government document.
The World Bank expects the US dollar to lose its solitary dominance in the global economy by 2025, as the euro and the renminbi establish themselves on an equal footing in a new "multi-currency" monetary system.
Billionaire financier George Soros, who called gold "the ultimate bubble," dumped almost his entire $800 million stake in bullion in the first quarter, well before a commodities slump blamed partly on reports he was liquidating his holdings.