Bloomberg News

Here’s what leaders around the world say must be done.

David Darnell, a 35-year-veteran of the bank, will leave at yearend in another round of executive changes for the bank owner of Merrill Lynch.

Obama's proposal might do some good -- not by helping workers, most of whom are unlikely to take advantage of it, but by spurring a discussion about how to fix a broken retirement system, write Bloomberg editors.

Raymond James Financial, the brokerage that acquired Morgan Keegan & Co. from Regions Financial last year, posted a quarterly profit that rose 41 percent on a one-time tax benefit.

BlackRock, the world’s biggest asset manager, replaced portfolio managers at funds including those that invest in energy as it seeks to improve performance at actively run products.

Goldman Sachs President Gary Cohn told Bloomberg Television's that he will "probably read" Greg Smith's tell-all book, "Why I Left Goldman Sachs," which comes out Oct. 22.

The nonpartisan Congressional Budget Office said today in a biannual analysis that the shortfall will be about $100 billion narrower than it had projected in March. The deficit would be less than last year's $1.3 trillion, in part because tax revenue has risen by almost 6 percent and spending is down by about 1 percent this year.

Eric Rosen, the co-head of UBS AG's fixed-income, currencies and commodities business for the Americas, is leaving the bank next month, about a year after he joined, to start a hedge fund.

FINRA says the brokerage didn't have enough controls in place to detect that Jared Weinryt had breached his $116 million trading limit as he made overnight bets on so-called futures.

Global investors are betting on a short-term bounce in equities, boosted by expectations that the European Central Bank will engage in so-called quantitative easing by the year end, a Bank of America Corp. survey showed.

Money-market fund companies obtained permission to support 155 of their funds during the financial turmoil of 2007 and 2008, and six more funds got the same go- ahead since the crisis, according to a list provided to Congress by the U.S. Securities and Exchange Commission.

Julius BaerGroup Ltd., the Swiss money manager established in 1890, agreed to pay about 860 million Swiss francs ($880 million) for Bank of America Corp.'s Merrill Lynch wealth management business outside the U.S.

A former UBS AG municipal-bond executive told an ex-colleague to forget about a transaction as they discussed how to handle an expanding government probe of bond big rigging, the second man testified at trial.

Former brokers at Merrill Lynch, Citigroup and Lehman Brothers Holdings Inc. won a reversal of their convictions for tipping day traders to confidential data on their internal "squawk boxes," after an appeals court said prosecutors withheld critical evidence.