- New employment data; Wal-mart seeks settlement in Morgan case; Ebola spread boosts biotechs(01 Oct 2014 12:04:05)
- Wells Fargo Offers Free Credit Scores to Customers Until Nov. 16[Business Wire] - In an effort to help customers succeed financially, Wells Fargo is offering its customers their free consumer credit score and complimentary credit report through Nov. 16, 2014.(01 Oct 2014 12:00:00)
- US banks: stress reduction[at Financial Times] - Stress tests should be, well, stressful. But recent mid-cycle exams carried out by large US banks suggest otherwise. Under their own Armageddon scenarios the economy collapses, unemployment rockets and ...(01 Oct 2014 10:35:53)
- Inevitable Ineffective Banking Regulation(01 Oct 2014 08:58:00)
- UBM to Buy U.S. Trade Show Organizer for $972 Million(01 Oct 2014 08:19:58)
- Nomura, JP Morgan among Japan Post IPO underwriters - govt[Reuters - UK Focus] - The Japanese government has selected Nomura Securities and JP Morgan among the 11 underwriters for a planned initial public offering of state-owned Japan Post , the finance ministry said on Wednesday. ...(01 Oct 2014 06:51:37)
- Nomura, JP Morgan among Japan Post IPO underwriters - govt[Reuters] - The Japanese government has selected Nomura Securities and JP Morgan among the 11 underwriters for a planned initial public offering of state-owned Japan Post (IPO-JAPP.T), the finance ministry said on Wednesday. Mitsubishi UFJ Morgan Stanley, Daiwa, SMBC Nikko, Mizuho, Goldman Sachs, Citigroup Global Markets Japan, UBS, Tokai Tokyo and Okasan were also chosen to underwrite the offering, which is scheduled for next year and is expected to raise nearly $10 billion for the government. Merrill Lynch and Barclays, which had been shortlisted for the IPO, were not included among those selected.(01 Oct 2014 06:51:37)
- Nomura, Goldman Sachs Among Firms to Lead Japan Post IPO(01 Oct 2014 06:49:36)
- [$$] SEC Grants Citigroup Waivers, Easing Hedge-Fund Curbs[at The Wall Street Journal] - U.S. securities regulators granted Citigroup waivers that allow it to resume selling investments in hedge funds and private-equity funds to wealthy clients.(01 Oct 2014 04:49:07)
- Trish Regan: Yellen and the Fed's TMI problem(01 Oct 2014 03:43:04)
The United States financial sector is the largest and most developed in the world, comprising 50% of all US profits. This industry is lead by major investment banks offering investment management, equity underwriting, and selling financial products. Other major companies offering lending, however many decline greatly during the recent housing bubble collapse.
As a result of the recent sub-prime mortgage crisis, many new regulations have been put into place to curb aggressive behaviors such as mixed risk class products, bank proprietary trading, and lending to high-risk customers. These new measures will result in lower financial sector profits, but also less risk associated too.
The US financial sector is largely based the north-eastern coast, centered in New York City’s Wall Street, housing the New York Stock Exchange and the NASDAQ stock exchange. There is also a sophisticated venture capital industry in the west coast where many high-tech and start-ups are based.