Europe has begun to prepare for a possible Greek exit from the euro zone ahead of elections next month that are fast becoming a referendum on the country's membership in the common currency.
James Dimon personally approved the concept behind J.P. Morgan's disastrous trades, but didn't monitor how they were executed. A behind-the-scenes account offers details about the drama inside the bank.
Buying on day one for the IPO pop is an exercise in finding a greater fool. Facebook's insiders are no fools—they aren't leaving that extra money on the table by underpricing the deal.
Indian shares closed higher, rebounding from a more than four-month intraday low, helped by a rally in bank shares after better-than-expected results from State Bank of India.
James Dimon personally approved the concept behind J.P. Morgan's disastrous trades, but didn't monitor how they were executed. A behind-the-scenes account offers details about the drama inside the bank.
Spain moved to quell fears of massive deposit withdrawals in Bankia as its shares were pummeled by a report that depositors had withdrawn around $1.27 billion.
In an action unrelated to U.S. sanctions against Tehran, Bank of Tokyo-Mitsubishi UFJ said it has frozen financial transactions with Iran's government and central bank, as ordered by a U.S. federal court.
Alexis Tsipras, head of Greece's radical left party, said in an interview with the Journal that there is little chance Europe will cut off funding to the country and if it does, Greece will repudiate its debts.
Returning to a national currency after more than a decade of using the euro and having its money managed by the ECB would catapult Greece into a financial, legal and political no-man's land.
