Posts Tagged ‘banking industry’
Madoff Claims Banks Looked Other Way
Written by admin
Wednesday, 16 February 2011 02:43
No Comments

NEW YORK (TheStreet) — Bernie Madoff says banks and hedge funds he worked with prior to his arrest on fraud charges more than three years ago had to know something was amiss with the returns he was able to deliver to his investors.

Speaking to the New York Times, the incarcerated Madoff again claimed no one in his family knew anything about what was going on at his namesake trading firm.

But of banks and hedge funds he dealt with at times, Madoff was quoted as saying: “They had to know. But the attitude was sort of, ‘If you’re doing something wrong, we don’t want to know.’”

…


Click to view a price quote on JPM.

Click to research the Banking industry.



 
Barclays 2010 Profits Rise 36%
Written by admin
Tuesday, 15 February 2011 10:30
No Comments

NEW YORK (TheStreet) — Barclays, the U.K. bank, reported a 36% increase in 2010 profits on reduced impairment charges.

Net profit was 3.56 billion pounds ($5.71 billion) vs. 2.63 billion pounds in 2009. Impairment charges in 2010 fell 30% from a year earlier.

Barclays said pretax profit at its investment bank Barclays Capital rose 94% to 4.78 billion pounds from 2.46 billion pounds.
…


Click to view a price quote on BCS.

Click to research the Banking industry.



 
JPMorgan Plans New-Media Fund: Report
Written by admin
Monday, 14 February 2011 10:12
No Comments

NEW YORK (TheStreet) — JPMorgan Chase plans to start a fund that would invest in Internet and digital-media companies, The Wall Street Journal reports, citing people familiar with the matter said.

The planned fund is expected to raise between $500 million and $750 million, the people said, the Journal reports. JPMorgan’s asset-management unit will run the fund.

The Journal says it’s not clear if JPMorgan plans to invest directly in the target companies or buy and sell shares on behalf of clients. But the fund will target “late-stage” private companies, or those with an up-and-running business model, steady revenue and cash flow, according to people familiar with the situation.
…


Click to view a price quote on JPM.

Click to research the Banking industry.