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Wall Street's messiest bank could cut bonuses by nearly one third (DB)
It looks like Deutsche Bank could cut bonuses by 500 million euros ($566 million) this year.That's according to Bloomberg's Ambereen Choudhury and Nicholas Comfort, who report the cost-cutting, which...
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ANALYST: 'We cannot defend' Valeant's business model (VRX)
Stepping into the hottest controversy on Wall Street, BMO Capital Markets released a report downgrading pharmaceutical firm Valeant on Thursday.And they didn't do it because they agree with short...
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Valeant's stock is getting stomped again
Shares of Canadian pharmaceutical company Valeant cratered again on Thursday morning.The share price was last down 18.6% at about $96.54. So far this week, the stock has fallen more than 42%.The stock...
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Here are the Seven Deadly Sins of investing ― in cartoon form
Aberdeen Asset Management has been getting into the Halloween spirit.Mike Turner, the head of multi-asset investment solutions at the $480 billion fund manager, took to the web on Wednesday to caution...
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Drugmaker AbbVie's stock gets slammed after FDA warning
Drugmaker AbbVie's stock tanked after the Food and Drug Administration warned about two of the company's new hepatitis C treatments. AbbVie's share price fell was last down 12.95% at $46.86.The FDA...
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Valeant's web keeps getting wider (VRX)
The relationship between Valeant Pharmaceuticals and a small pharmacy is again in focus.Investigative-journalism website ProPublica reported that specialty pharmacy Philidor Rx Services — which is...
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Wall Street investment banks may be about to lose one of their best clients
NEW YORK (Reuters) - The controversy surrounding Valeant Pharmaceuticals' strategy and its market slide this week are bad news for Wall Street investment banks that stand to lose one of their best...
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Jamie Dimon wants you to know he doesn’t care about quarterly earnings (JPM)
JPMorgan, Goldman Sachs and Morgan Stanley missed earnings, and investors might be worried about the state of Wall Street's top banks. Not Jamie Dimon, CEO of JPMorgan, however. "I've never done...
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Wall Street banks are feeling excruciating pain in a critical part of their...
The big five US banks have now reported third-quarter results, and one thing is clear.It was a painful three months for the banks' fixed income, currencies and commodities - or FICC - divisions. Morgan...
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There's one silver lining in Wall Street investment banks' earnings reports...
There's one silver lining for Wall Street banks that got killed on poor third-quarter earnings results.Revenue from traditional investment-banking activity like mergers and acquisitions and equity and...
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A Wall Street 'Master of the Universe' nailed the millennial mindset with one...
There's no question that building a career in finance has always meant working hard.For junior bankers, it has traditionally meant long hours, late nights, and doing the grunt work that the senior...
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Big banks are slashing compensation bills ― and that spells bad news for...
The writing is on the wall for big bank bonuses. Morgan Stanley, which missed earnings on the top and bottom line on Monday morning, revealed it is setting aside $1 billion less for compensation and...
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How your iMessages and Amazon purchases are driving the tech megadeal frenzy
Storage-hardware maker Western Digital announced on Wednesday it will buy flash memory giant SanDisk for $19 billion.It's just the latest multi-billion dollar deal in the tech industry this year,...
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Goldman Sachs helped pay for 600 kids to get pre-K education ― and it could...
Goldman Sachs and the Pritzker Family Foundation put up $7 million in 2013 to expand a pre-kindergarten program in Utah. The result, according to Libby Nelson at Vox, could pave the way for a new way...
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Wall Street is cashing in on Silicon Valley's biggest problem
There’s a growing chorus of voices saying dark days are ahead in Silicon Valley. Lately, it seems to be a big source of agitation for top venture capitalists and CEOs. Venture capitalist Mark Suster,...
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Wall Street and Silicon Valley veterans are lining up to make big bets on the...
Veterans from the worlds of finance and technology are using their professional skills to take on a totally new kind of competitive arena: the National Basketball Association. The season is expected to...
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I asked a Wall Street billionaire for financial advice for someone my age —...
I recently had a conversation with a successful billionaire money manager about personal finance.I wanted the best money advice the investor had for someone my age.I'm 27, so this advice will probably...
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The next China bubble is forming right before our eyes
China's bubble of investor money has moved from the stock market to a new asset class: corporate bonds.And all we can do is watch."Corporate bonds have become another important credit channel,...
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It's getting harder to put Wall Streeters behind bars
US Southern District Attorney Preet Bharara has racked up dozens of convictions of insider traders like Galleon Group CEO Raj Rajaratnam and former McKinsey managing director Raj Gupta.But recent...
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From Ferrari to Facebook: the incredible client list of Wall Street's most...
Some of the biggest names in tech, telecom, and the media industries have one thing in common.The tiny financial advisory firm quietly advising them on deals behind the scenes: Allen & Co.The firm...
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