Buffeted by scandals, squeezed profits, new competitors and a disorienting technological revolution, some of the world's biggest banks are going on a radical diet, shedding thousands of workers and shaking up the boardroom in a bid to stay profitable and relevant in a fast-changing financial landscape.
Banking & Finance
The latest coverage of the banking and financial sectors.
Democrats are "overwhelmingly" opposed to both fast-track trade authority and to the Asian trade deal the administration is negotiating, exposing doubts about President Obama from within his own ranks — and an ever-shrinking number of lawmakers even willing to be persuaded by him. Published April 19, 2015
Sen. Elizabeth Warren of Massachusetts is calling on President Obama to make a proposed trade deal with Pacific Rim nations public before Congress decides whether to press forward on it.
Count the American head of the World Bank as one more major player ignoring Obama administration concerns to say he welcomes the creation of a major new China-sponsored development bank to fund infrastructure projects across Asia.
U.S. efforts to head off a new China-sponsored development bank for the booming Asia region ended in abject failure this week as organizers announced nearly four dozen countries — including some of America's closest Asian and European allies — have applied to membership, amid growing criticism of how the Obama administration handled the entire episode.
The rush to join the China's new development bank for Asia has become a stampede, with even longtime U.S. allies such as Georgia, South Korea, Australia and even Taiwan now saying they are ready to join despite the clear reservations of the Obama administration.
In early 2008 liberal icon Edward M. Kennedy blessed Barack Obama's long shot presidential campaign, declaring the freshman Illinois senator the next great progressive leader in a symbolic passing of the torch.
Sen. Elizabeth Warren of Massachusetts should reconsider her stated vow that she is not running for president in 2016, the Boston Globe editorial board said.
The battle of wills between Beijing and Washington over a China-sponsored development bank for Asia is turning into a rout, and the Obama administration has found itself isolated and embarrassed as its top allies lined up this week to join the proposed Asian Infrastructure Investment Bank.
Sen. Elizabeth Warren hijacked a Senate committee hearing on recreational hunting, fishing and shooting Thursday to advance her crusade against big business, calling for new laws to expose the details of legal settlements between the government and corporations accused of wrongdoing.
Nearly seven years after it was bailed out from the housing market crash, mortgage giant Fannie Mae is still engaging in behavior that could precipitate future financial crises and taxpayer losses, a government watchdog warns in a report to be released Wednesday.
Roughly 6.5 million people with active Social Security numbers are age 112 and older, according to an audit by the Social Security Administration's inspector general.
Academy Award-winning actress Emma Thompson and her husband, Greg Wise, say they're mulling a protest to withhold their personal tax dollars from the government, until HSBC officials connected to the bank's latest swindling scandal are sent to prison.
Leading Wall Street regulator Ben Lawsky, who heads up the New York Department of Financial Services, warned that the United States should be preparing for a massive cyberattack on banks -- that it's inevitable, and looming.
Sen. Elizabeth Warren, the Massachusetts Democrat who many liberals want to see run for president in 2016, took somewhat of a pass on Tuesday when asked to assess the progressive credentials of former Secretary of State and Democratic frontrunner Hillary Rodham Clinton.
The Justice Department has launched an investigation into at least 10 big banks to see if officials rigged prices of precious metals — though European regulators looking into the same thing had to conclude: There was no wrongdoing.
President Obama proposed regulations Monday that he said would prevent financial advisers from "bilking" middle-class savers by accepting hidden fees to promote weak investment funds.
Sen. Bernie Sanders, Vermont Independent, said that while the economy is better off than it was six years ago, he would have been more aggressive than the president in confronting the big banks after the 2008 financial crisis.
Vermont Sen. Bernard Sanders, who is eyeing a 2016 run as a Democrat for president, staked out an economic agenda Monday that is far to the left of his most liberal colleagues, including advocating a government-run Medicare-for-all health care system.
Ratings firm Standard & Poor's will pay $1.4 billion to settle a series of lawsuits stemming from the ratings it gave to a number of mortgage securities that helped contribute to the financial market crisis in 2008.
Liberal activist groups have more than 200 "house party" events planned across the country this weekend as part of an effort to get Sen. Elizabeth Warren, Massachusetts Democrat, to run for president in 2016.
Interest rates will remain at historic lows for the time being as the Federal Reserve finished a two-day meeting without announcing a shift in policy.
Sen. Rand Paul on Wednesday reintroduced legislation to force a government watchdog audit of the Federal Reserve, and the bill has its best chance yet of finally clearing Congress.
House Democrats are feeling emboldened as they head to their annual issues conference and a pep talk from President Obama in Philadelphia this week, relishing a series of stumbles by the Republican majorities in Congress and rallying around a populist tax-the-rich agenda that they are convinced will score points with voters.
Recent Opinion Columns
The U.S. economy is underperforming, and the Federal Reserve's low interest rate policies won't reinvigorate it.
It was — and always is — enlightening to be outside the D.C. Beltway, where manufacturers grapple not only with increasing and sustaining sales, but with the real-world implications of Washington's latest action or inaction.