Lauren's Feed
Feb 24, 2015

U.S. startup Airex offers investors à la carte financial data

NEW YORK (Reuters) – A U.S. startup called Airex Inc is launching an online marketplace for investors to buy data and research à la carte from providers including Deutsche Bank, FactSet, Morningstar, Mercer, Nasdaq and S&P Capital IQ, company officials told Reuters.

Its Airex Market website is targeting small investors who do not have a budget for subscriptions to Bloomberg LP, Thomson Reuters Corp (TRI.TO: Quote, Profile, Research, Stock Buzz) and other major data providers, said Chief Executive Stephen Kuhn.

Feb 20, 2015

Citigroup consumer banking head Medina-Mora to retire

By David Henry and Lauren Tara LaCapra

(Reuters) – Manuel Medina-Mora, who helped build Citigroup Inc’s Mexico business only to see it run into trouble after he stopped running it day-to-day, will retire in June, the bank said on Friday.

Medina-Mora, who heads global consumer banking at Citigroup, was expected to retire before his 65th birthday in August, people familiar with the matter said.

Feb 10, 2015

Goldman CEO says bank is more diverse than it looks

NEW YORK, Feb 10 (Reuters) – Goldman Sachs Group Inc
is trying to convince investors its business model is more
diverse than meets the eye.

On Tuesday morning, Chief Executive Officer Lloyd Blankfein
made a presentation that sought to paint Goldman as a bank that
earns steadier profits than peers through sundry business lines.

Feb 10, 2015

Goldman: Jack of all trades, not master of one -CEO

NEW YORK, Feb 10 (Reuters) – Goldman Sachs Group Inc
is trying to convince investors that its business model is more
eclectic than meets the eye.

On Tuesday morning, Goldman Chief Executive Lloyd Blankfein
plans to give a presentation that paints his bank as one that
earns steadier profits than peers, and delivers them through
sundry business lines.

Jan 27, 2015

Wall Street back to ‘business as usual’ as storm wanes

NEW YORK (Reuters) – Wall Street was largely back to business as usual on Tuesday after a storm that had threatened to blanket New York with a few feet of snow ended up dumping several inches instead.

Major U.S. stock and bond markets were open, with trading volumes higher than they had been the previous day, when ominous weather forecasts and transit shutdowns put a chill on business activity.

Jan 23, 2015

Morgan Stanley awards CEO $4.4 mln in restricted stock

Jan 23 (Reuters) – Morgan Stanley’s board of
directors awarded Chairman and Chief Executive James Gorman $4.4
million in restricted stock as part of his 2014 bonus, the Wall
Street bank said in a regulatory filing on Friday.

Morgan Stanley did not disclose other parts of Gorman’s
compensation package, which in the prior year also included cash
and deferred cash, in addition to his base salary.

Jan 20, 2015

Morgan Stanley eyes more buybacks, bigger dividend in 2015

NEW YORK, Jan 20 (Reuters) – Morgan Stanley plans to
spend more money on share buybacks and dividends in 2015,
executives said, in a step that could help the bank reach a key
profitability target this year.

The bank needs approval from the U.S. Federal Reserve before
it can put more money toward shareholder rewards. Morgan Stanley
has submitted a capital plan for 2015, but executives said on
Tuesday that they are wary of detailing specifics until they
receive a green light from the Fed.

Jan 20, 2015

Morgan Stanley profit falls short of expectations

Jan 20 (Reuters) – Morgan Stanley’s adjusted
quarterly earnings fell short of market estimates as unexpected
market swings in December hit its division that trades bonds,
currencies and commodities and the Wall Street bank deferred
fewer bonus payments.

Choppy markets caused by factors ranging from plunging oil
prices to political upheaval in Greece, sent investors scurrying
last month, slashing the trading revenue of U.S. banks including
Morgan Stanley arch rival Goldman Sachs Group Inc.

Jan 16, 2015

Goldman Sachs touts commodities muscle as rivals shrink

NEW YORK, Jan 16 (Reuters) – Goldman Sachs Group Inc
stuck with commodities trading while rivals have pulled back,
and on Friday the bank felt vindicated.

While Goldman does not disclose revenue for commodities
trading specifically, Chief Financial Officer Harvey Schwartz
highlighted it as a bright spot in the bank’s broader
fixed-income trading business, which had a rough quarter.

Jan 16, 2015

Goldman Sachs profit hit by weak fixed-income trading

By Anil D’Silva and Lauren Tara LaCapra

(Reuters) – Goldman Sachs Group Inc reported a 7 percent drop in fourth-quarter profit as sharp market moves in December hit its bond-trading business.

Fixed-income trading, long a strength for the bank, came under pressure last year due to stricter capital rules in the aftermath of the financial crisis and relatively calm markets that discouraged clients from trading.