- Dow surges 150 points as bank shares jumpU.S. equities traded higher on Wednesday as bank stocks led the charge.(28 Jun 2017 15:42:46 +0000)
- Story Stocks from Briefing.comStory Stocks from Briefing.com(28 Jun 2017 15:35:18 +0000)
- Citigroup Stock Is Ready to Break Out AgainShare of Citigroup have a solid floor and should continue to strengthen.(28 Jun 2017 15:34:00 +0000)
- AIG shareholders approve $9.58 million for ex-CEO's 2016 compensationShareholders at the annual meeting in New York voted to award Hancock a total compensation of $9.58 million for 2016, including a $1.6 million base salary, longer-term incentive pay in stock worth more than $7.8 million and additional funds. Hancock was not awarded a cash bonus for his work last year, after the company's dismal financial performance roiled shareholders. In May, AIG named Brian Duperreault as its new chief executive officer, selecting a protege of former CEO Hank Greenberg and an industry veteran known for his turnaround expertise.(28 Jun 2017 15:32:54 +0000)
- Goldman Sachs Is Fighting Its ChartsIf GS closes below $215, it will likely break the 200-day moving average line and further price declines could be seen.(28 Jun 2017 15:27:00 +0000)
- Putting retail REITs to the Buffett testShopping center operator DDR offers lesson in chasing yield, writes John Coumarianos.(28 Jun 2017 15:26:26 +0000)
- Today's Bank Stress Tests May Mean a Windfall for Warren BuffettThe Oracle of Omaha isn't the only investor likely to benefit from Federal Reserve stress-test results, but his gains have the advantage of scale.(28 Jun 2017 15:22:00 +0000)
- Look at Warren Buffett's First Tax Return at Age 14!The "Oracle of Omaha" Warren Buffett was a diligent businessman even at the age of 14, as his 1944 tax return shows.(28 Jun 2017 15:17:00 +0000)
- JPMorgan Hires GE To Cut Energy Use By This Much At 4,500 BranchesJPMorgan will use General Electric sensors and systems to slash energy use and costs at its branches.(28 Jun 2017 15:00:19 +0000)
- American Express Now Supported by Android Pay in CanadaThe addition of American Express means users can begin using their credit cards for in-store and in-app purchases.(28 Jun 2017 14:43:00 +0000)
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.