Hong Kong (CNNMoney) – World markets advanced Wednesday as lawmakers in the United States completed legislation that will mute much but not all of the fiscal cliff.
Asian and European stocks post strong gains, while government bonds in weaker eurozone economies rally as investor appetite for riskier assets rise on the diminished threat of an immediate hit to growth in the world's largest economy.FULL STORY
New York (CNNMoney) - Monday is New Year's Eve, but it may feel more like Groundhog Day, as investors spend yet another day awaiting news out of the fiscal cliff negotiations in Washington.
U.S. stocks opened lower Monday as investors continue to dial back expectations that officials in Washington will prevent tax hikes and spending cuts from kicking in on Tuesday.
New York (CNNMoney) – It's not the end of the world - literally or for the fiscal cliff talks - but the latest signs of gridlock on Washington have struck fear into investors.
Lawmakers in the House failed to support the so-called "Plan B", a proposal backed by House Speaker John Boehner, late Thursday. The White House had already threatened to veto that plan, saying it would bring only "minimal" changes in projected budget deficits, but its failure underscored the lack of progress on Capitol Hill as the cliff draws nearer.FULL STORY
New York (CNNMoney) – One of the toughest critics of Wall Street will soon be policing it.
Massachusetts Senator-elect Elizabeth Warren has been tapped to take a seat on the Senate Banking Committee, the Senate Democrats' steering committee announced Wednesday.FULL STORY
(CNN) – Sen. Bernie Sanders, an independent from Vermont who caucuses with the Democrats, derided Goldman Sachs CEO Lloyd Blankfein, along with other Wall Street leaders, for pushing for cuts to entitlement programs as a part of the nation's budget negotiations.
"I do have a problem with wealthy CEOs from Wall Street who caused the recession now coming to Washington and saying, if you're old, if you're sick, or if you're poor, we're going to cut your benefits," the outspoken senator said Thursday on CNN's "The Situation Room with Wolf Blitzer."
New York (CNNMoney) – Several big Wall Street bank CEOs on Thursday urged Congress and President Obama to avoid the "fiscal cliff."
In an urgent letter dated Oct. 18, the Financial Services Forum pressed leaders to "reach a bipartisan deal to avoid" massive tax hikes and across-the-board program cuts that could lead to recession. If Congress doesn't act by Jan. 1, the United States will go over the fiscal cliff, triggering about $1.2 trillion worth of spending cuts over a decade.FULL STORY
(CNN) – The Dow Jones industrial average closed up 70 points Tuesday, a 5-year high. The S&P gained 0.3%, and the Nasdaq ended flat.
WASHINGTON (CNNMoney) – Wall Street is on track to spend more on this election than it ever has during a campaign season.
With two months to go before Nov. 6, Wall Street firms have so far spent $164 million on campaigns and donations to political groups designed to influence the elections, according to the Center for Responsive Politics. That puts the industry on pace to surpass the spending record of $170 million that it set during the 2008 race.FULL STORY
(CNN) – Vice President Joe Biden leveled a heavy charge at Mitt Romney on Tuesday, arguing the presumptive GOP nominee's proposed policies on Wall Street reform would be detrimental for Americans.
"(Romney) is going to let the big banks once again write their own rules, unchain Wall Street," Biden said at a campaign event in Danville, Virginia. "He is going to put y'all back in chains."
(CNN) - Newly chosen vice presidential candidate Paul Ryan is already well-known for trying to push the U.S. government to cut its way to prosperity.
Perhaps he should share some of his stock picks with Uncle Sam in order to boost revenue as well.FULL STORY