Financials

France is working on ways to make Paris a more attractive financial center to rival the City of London after Britain's vote to leave the European Union, Prime Minister Manuel Valls said on Saturday.

France is working on ways to make Paris a more attractive financial center to rival the City of London after Britain's vote to leave the European Union, Prime Minister Manuel Valls said on Saturday.

Berkshire Hathaway Inc.which increased its Wells Fargo & Co. stake to about 10% in the first quarter, is seeking regulatory approval to buy more shares, according to reports.

Chesapeake Partners, a $1.4 billion hedge fund that bet on special situations including mergers, bankruptcies and spin-offs, is shutting down after an 18-month stretch of losses, as it blamed government regulation for making investing tougher.

In a parade of announcements after the closing bell, four of the nation’s biggest banks unveiled new share repurchase programs and increased quarterly stock dividends following the release of the Federal Reserve’s bank stress test results Wednesday.

It didn’t take long for Morgan Stanley's conditional approval from the Federal Reserve to throw investors a bone.

It didn’t take long for Morgan Stanley's conditional approval from the Federal Reserve to throw investors a bone.

For months, executives running large U.S. banks have warned that a UK exit from the European Union would cause so much turmoil that they would have to slash staffing and move executives out of the country.

For months, executives running large U.S. banks have warned that a UK exit from the European Union would cause so much turmoil that they would have to slash staffing and move executives out of the country.

U.S. bank subsidiaries of Deutsche Bank AG and Banco Santander (NYSE:SAN) yet again failed the Federal Reserve'sstress test on Wednesday due to "broad and substantial weaknesses" in their capital planning processes.

U.S. bank subsidiaries of Deutsche Bank AG and Banco Santander (NYSE:SAN) yet again failed the Federal Reserve'sstress test on Wednesday due to "broad and substantial weaknesses" in their capital planning processes.

Lender GE Capital on Wednesday became the first firm to lose its designation as "systemically important," a label born of the financial crisis that the U.S. government gives to institutions with potential to wreck the economy in the event of distress.

Lender GE Capital on Wednesday became the first firm to lose its designation as "systemically important," a label born of the financial crisis that the U.S. government gives to institutions with potential to wreck the economy in the event of distress.

The beaten-down financials sector jumped 1.2% after it saw the biggest two-day drop since 2011 and suffered the steepest losses of all 10 S&P 500 sectors in the two trading days after the Brexit vote.

The beaten-down financials sector jumped 1.2% after it saw the biggest two-day drop since 2011 and suffered the steepest losses of all 10 S&P 500 sectors in the two trading days after the Brexit vote.

Wall Street was higher on Tuesday as investors rushed to pick up stocks after Britain's decision to leave the European Union sparked a massive two-day selloff in global markets.

Roboadvising has seen major growth in recent years.

Roboadvising has seen major growth in recent years.

The selloff in equities, sparked by Britain's vote to exit the European Union, continued on Monday, setting the Dow and S&P 500 on course for their biggest two-day percentage drop in 10 months.