Bloomberg reports that July and August were two months that investment banks would most likely want to forget, and that only an 'off-the-charts' September will be good enough to save this quarter.

Here's a press release from HSBC.

Daily Intel Jessica and I saw a screening of Wall Street 2: Money Never Sleeps last week. We haven’t shared our thoughts on it until now because we haven’t wanted to/been ready to talk about it.

Shares of student-loan company SLM have jumped today, prompting at least one trader to sell some of the upside.

John Carney today writes about what he calls “the deeper problem” behind the Basel III negotiations: “how regulators can assess capital requirements without a functioning market process”.

Ideally, he says, “we wouldn’t have regulatory capital requirements at all”, and banks would voluntarily raise their capital levels because doing so would decrease their funding costs. But in an age of moral hazard and government guarantees, that doesn’t work.

There are several ways to use options to protect gains in a stock, but the collar has always seemed an odd choice. Here's why.

Bloomberg reports that Sumitomo Mitsui Financial Group plans to start brokerage businesses in both London and New York in the next 6 months through its Nikko Cordial Securities unit.