Topic: Investment Banking

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Burger King going private? Whopper is safe, but...

Burger King stock soared 15 percent Wednesday on reports that it was in talks to go private with Brazilian investors. The British private equity firm supposedly arranging the deal originally denied the report. Then new reports emerged. What might change at Burger King, the world's No. 2 fast-food chain, under new owners? Here are our Top 5 changes (click on the right arrow to see each item):
Gallery: CEO exits

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Facebook stock drops below $29 (+video)

Facebook stock falls 9.6 percent to close at $28.84. In its first seven days of trading, Facebook stock has lost nearly a quarter of its value.
The Reformed Broker
SEC won't take action against Lehman Brothers

The SEC will likely not seek action against the Lehman for the events that led up to the firm's massive bankruptcy in 2008.
Robert Reich
Obama should attack what Bain and JPMorgan have in common

Rather than lobbing generalized  attacks at Mitt Romney and American business, Obama should attack a particular kind of capitalism that Romney and JPMorgan both practice: using other peoples’ money to make big bets which, if they go wrong, can wreak havoc on the economy.
Facebook struggles as lawsuits loom

The stock climbed a dollar on Wednesday, but it is still 16 percent below its IPO price last Friday.
Facebook stock still slipping as investors grow wary

The company has slipped to $91 billion in total valuation from its opening at $104 billion.
The Daily Reckoning
Leave Facebook's Eduardo Saverin alone

Eduardo Saverin's timely renunciation of his American citizenship is no reason to keep him out of the US. People should be able to move where they want, when they want, for any reason.
Facebook stock falling again. What went wrong?

Facebook stock fell 7 percent in early trading Tuesday, after an 11 percent fall Monday. In challenging market environment, selling IPO of Facebook stock is like 'trying to get a jumbo jet to take off in turbulent weather.'
Stocks climb, breaking losing streak

Apple stock soared, helping propel major US stock indexes to gains after a solid week of losses. The Dow Jones rose 135 points to close at 12504.
JP Morgan chief apologizes for $2 billion loss

Jamie Dimon, the CEO of the bank, told shareholders that the loss should have never happened.
JPMorgan Chase's Dimon survives pay, chairmanship votes (+video)

JPMorgan Chase shareholders voted Tuesday at the bank's annual meeting to keep CEO Jamie Dimon in his role as chairman of the board, in addition to his pay package.
Ina Drew retiring after JPMorgan losses. Will she get $14.7 million?

Ina Drew, at the center of JPMorgan's stunning loss, was among its highest-paid executives. Proxy statement says Ina Drew would be entitled to nearly $14.7 million if she met 'full-career eligibility.'
Robert Reich
JPMorgan collapse: Can we regulate Wall Street now?

JPMorgan Chase & Co., the nation’s largest bank, announced Thursday that it had lost $2 billion in risky trades over the past six weeks. It adds fuel to the argument that Wall Street needs to be more heavily regulated.
JP Morgan $2 billion loss stirs memories of 2008 crisis (+video)

JP Morgan CEO Jamie Dimon dubs losses 'egregious,' but market analysts expect that, this time, the damage would be contained and not spread to the entire financial system.
Investment banking: Ex-Goldman critic to write book?

Investment banking tell all? Greg Smith, who tendered a scathing resignation letter to investment banking giant Goldman Sachs, is reportedly looking for a book deal.
Goldman Sachs culture 'toxic'? Letter confirms suspicions about Wall Street.

Polls show that Americans hold a very low opinion of Wall Street, and a damning public letter of resignation from a Goldman Sachs executive could only amplify that perception.
The Daily Reckoning
Don't be fooled by good economic news

Unemployment is going down. Consumer debt is going up. Even the housing market is showing signs of improvement. But the US economy is far from recovery mode.
Stocks close mixed following Greek debt talks

The S&P 500 index eked out a tiny gain Monday while traders kept an eye on talks in Europe to cut Greece's crushing debt load, but other indexes ended slightly lower. The Dow fell 11 points to close at 12708.
The Reformed Broker
Wall Street's return on equity problem

The conditions of the early 2000s made big banks great profit machines. Now they aren't looking so good.
Strong housing report boosts stocks

The Dow and the S&P 500 had their highset closing numbers since July, propelled by a surprisingly strong report on the housing market and the possibility of more money for the International Monetary Fund. The Dow rose 96 points to close at 12578, and the S&P gained 14 points to end the day at 1308.
Jon Corzine downfall: Even after 2008, banking sector has untamed risks. (VIDEO)

Former CEO Jon Corzine testified before Congress on the bankruptcy of investment firm MF Global. Its swift collapse in late October recalled events leading to the financial crisis of 2008.
Bank stocks: 2012 could be a very good year

While it's been a hard year for bank stocks, news could pick up next year – if politics in the US and Europe settle down first. For investors in bank stocks, that's a big 'if.'
Robert Reich
Why Obama should call for a breakup of big banks

What better way for the president to distinguish himself from Romney than to condemn Wall Street’s antics since the bailout and call for real reform?
Insider trading: Ex-Goldman board member arrested

Insider trading charges brought against former Goldman director Rajat Gupta. Charges stem from insider trading case that netted Raj Rajaratnam 11 years in prison.
Tech stocks a drag on market after Apple's miss

Tech stocks moved broadly lower in midday trading after Apple earnings come in below expectations. Despite gloom over tech stocks, Intel breaks out after strong earnings growth.
Goldman Sachs: Superstar firm falls back to Earth

Goldman Sachs posts higher-than-expected loss of $428 million. Quarterly loss is only the second since the firm went public.