New Federal Reserve chairman Ben Bernanke will make his first major speech today before the House Financial Services Committee. Analysts will be paying close attention to any hints of future interest rate hikes.
U.S. authorities are reportedly investigating Deutsche Bank as part of a larger inquiry into questionable tax shelters offered by banks, according to people close to the matter. The German bank declined comment.
Credit Suisse Group said its net income rose 15% to $840 million in the fourth quarter, below analysts' estimates. Profits at Credit Suisse's investment bank unit also came in below forecasts. Credit Suisse CEO Oswald Grubel said he is convinced the firm can narrow the gap between the firm's profitability and those of its industry peers.
Billionaire investor Warren Buffett is stepping down from Coca-Cola's board after 17 years. Buffett's Berkshire Hathaway will keep its 8% stake in the soft drink maker. The Wall Street Journal is reporting that some Coke insiders want former Gillette CEO James Kilts to join the board.