Adam

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Bank of America Merrill Lynch is firing traders

The job cuts have already taken place in Asia, and they are working their way across time zones to Europe and now the US, according to people familiar with the matter.<p>Arnaud Droitcourt, head of equity trading in Asia Pacific, and Robert Grillo, head of fixed income e-sales, are among those to have …

Markets

10 countries hoarding enormous piles of gold

Gold is on fire.<p>Last week, the shiny metal officially entered a bull market, defined as a 20% rally off recent lows.<p>But investors aren't the only ones feeling gold: central banks just can't get enough of the shiny metal either.<p>According to the latest report from the World Gold Council, central …

Economics

3 Stocks I'll Hold Forever

"Our favorite holding period is forever" is one of my all-time favorite Warren Buffett quotes, as it sums up the ideal of long-term investing. When you're weighing a stock, ask yourself: "Can I see myself still owning these shares in 20 years? What about 50 years?"<p>There are many qualities that can …

Investing
Economics
United Kingdom

HSBC to freeze salaries, hiring this year in battle to cut costs

Barclays, Credit Suisse to strike record deals with SEC, NY over dark pools

Credit Suisse

U.S. economy likely shrank in first quarter, but fundamentals strong

WASHINGTON (Reuters) - The U.S. economy likely contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls and a resurgent dollar, but activity since has rebounded modestly.<p>The government is expected to report on Friday that gross domestic product shrank at a 0.8 …

Economy
Corruption