| India's gold buying pushes metal to new high |
| NEW YORK -- Gold prices surged to a new high Tuesday on news that India's central bank bought $6.7 billion worth of gold from the International Monetary Fund. |
| Read More...(Source: - Tue, 03 Nov 2009 15:29:10 EST) |
|
| Judge fast tracks CIT bankruptcy plan hearing |
| NEW YORK (Reuters) - A U.S. bankruptcy judge set a December 8 hearing to consider approval of CIT Group Inc's reorganization plan, aiding the large commercial lender's effort to emerge from bankruptcy by year's end. |
| Read More...(Source: - Tue, 03 Nov 2009 15:10:34 EST) |
|
| Tax relief for small Madoff investors eyed |
| WASHINGTON -- Tax relief for thousands of small, indirect investors in Bernard Madoff's swindle and other fraudulent schemes appears close to Senate adoption as part of a broader bill to extend unemployment benefits. |
| Read More...(Source: - Tue, 03 Nov 2009 15:07:55 EST) |
|
| Stocks pull off lows as commodity prices rise |
| NEW YORK -- Investors sidestepped some of their doubts about the strength of an economic recovery and pushed into energy, industrial and materials stocks as commodity prices rose. |
| Read More...(Source: - Tue, 03 Nov 2009 15:05:37 EST) |
|
| A look at economic developments around the globe |
| -- A look at economic developments and activity in major stock markets around the world Tuesday: |
| Read More...(Source: - Tue, 03 Nov 2009 15:01:59 EST) |
|
| Ex-Madoff auditor pleads guilty, denies knew of fraud |
| NEW YORK (Reuters) - The former outside accountant for Bernard Madoff's firm pleaded guilty to fraud charges on Tuesday, but he told a U.S. judge he did not know about the swindler's multibillion-dollar Ponzi scheme, which shook investor confidence and market regulators who missed it. |
| Read More...(Source: - Tue, 03 Nov 2009 14:57:16 EST) |
|
| Buffett buying Burlington rail in his biggest deal |
| NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc will pay $26 billion to buy out Burlington Northern Santa Fe Corp in a bet that the nation's largest rail company is poised to benefit from a recovering U.S. economy. |
| Read More...(Source: - Tue, 03 Nov 2009 14:26:22 EST) |
|
| Madoff's longtime auditor pleads guilty to fraud |
| NEW YORK -- Bernard Madoff's longtime auditor pleaded guilty to securities fraud charges Tuesday, saying he failed to do his job to verify the disgraced money manager's financial records but did not know Madoff was running history's biggest Ponzi scheme. |
| Read More...(Source: - Tue, 03 Nov 2009 14:11:45 EST) |
|
| Stocks pulled lower by semis, financials |
| NEW YORK (Reuters) - U.S. stocks stumbled on Tuesday after Morgan Stanley downgraded the semiconductor sector and a shake-up at two big British banks prompted investors to sell financial shares. |
| Read More...(Source: - Tue, 03 Nov 2009 13:13:17 EST) |
|
| Britain puts more money in banks, imposes breakup |
| LONDON -- The British government moved Tuesday to break up the country's two biggest retail banks, imposing a major shakeup on the financial sector as it exacts payback for last year's massive state bailout at the height of the financial crisis. |
| Read More...(Source: - Tue, 03 Nov 2009 12:57:57 EST) |
|
| World markets stung by banking worries |
| LONDON -- World stock markets mostly fell Tuesday amid renewed concerns about the banking sector after Britain's Royal Bank of Scotland got more government help and Switzerland's UBS AG booked another massive charge. |
| Read More...(Source: - Tue, 03 Nov 2009 11:59:06 EST) |
|
| Dollar rises ahead of central bank announcements |
| NEW YORK -- The dollar mostly rose Tuesday as major bank restructurings in Europe and worries over slow growth made the currency more attractive to investors seeking safety amid central bank meetings in the U.S. and Europe this week. |
| Read More...(Source: - Tue, 03 Nov 2009 11:46:42 EST) |
|
| Banks face Feb. 1 deadline from Fed on pay plans |
| WASHINGTON -- The nation's biggest banks face a February deadline for submitting employee compensation plans to the Federal Reserve, according to people with knowledge of the process. |
| Read More...(Source: - Tue, 03 Nov 2009 11:12:37 EST) |
|
| British government downsizes bailed-out U.K. banks |
| LONDON -- The British government announced Tuesday that it will break up parts of major financial institutions bailed out by taxpayers, highlighting a growing divide across the Atlantic over how to deal with the massive banks that were partially nationalized during the height of the financial crisis. |
| Read More...(Source: - Tue, 03 Nov 2009 09:18:00 EST) |
|
| UBS won't stem withdrawals soon as Q3 disappoints |
| ZURICH (Reuters) - Swiss bank UBS does not expect to win back assets from rich clients any time soon as it struggles to rebuild its reputation after a bitter U.S. tax row even as its underlying performance improves. |
| Read More...(Source: - Tue, 03 Nov 2009 08:55:34 EST) |
|
| Lloyds, RBS agree to massive shake-up |
| LONDON (Reuters) - Britain's two largest retail lenders are to get another 31 billion pounds from the government and have agreed to sell hundreds of branches and key businesses to appease EU competition concerns over state aid. |
| Read More...(Source: - Tue, 03 Nov 2009 08:09:18 EST) |
|
| Grim reality still grips U.S. commercial real estate |
| NEW YORK (Reuters) - Executives do not expect the U.S. commercial real estate market to emerge from critical condition any time soon, according to a survey by The Real Estate Roundtable. |
| Read More...(Source: - Tue, 03 Nov 2009 04:48:46 EST) |
|
| Global stocks fall on stimulus worries |
| LONDON (Reuters) - World stocks dipped toward the previous session's four-week lows on Tuesday as investors continued to fret over the early removal of government stimulus, particularly in the financial sector. |
| Read More...(Source: - Tue, 03 Nov 2009 04:17:47 EST) |
|
| Senator demands Cigna clarify premiums, claims |
| WASHINGTON (Reuters) - For-profit insurance companies use a smaller amount of premium dollars on medical claims than consumers are being told, according to a Senate analysis of data filed with insurance regulators. |
| Read More...(Source: - Tue, 03 Nov 2009 04:08:55 EST) |
|
| Senator demands Cigna clarify premiums, claims |
| WASHINGTON (Reuters) - For-profit insurance companies use a smaller amount of premium dollars on medical claims than consumers are being told, according to a Senate analysis of data filed with insurance regulators. |
| Read More...(Source: - Tue, 03 Nov 2009 04:08:55 EST) |
|
| Asian shares ease ahead of Fed |
| HONG KONG (Reuters) - The dollar slid on Tuesday, pushing gold prices to near record highs, while Asian stocks eased as investors awaited policy announcements from some key central banks this week for clues on the timing of eventual shifts in policy. |
| Read More...(Source: - Tue, 03 Nov 2009 02:18:11 EST) |
|
| More insurers are paying for alternative remedies |
| -- EDITOR'S NOTE: Ten years and $2.5 billion in research have found no cures from alternative medicine. Yet these mostly unproven treatments are now mainstream and used by more than a third of all Americans. This is one in an occasional Associated Press series on their use and potential risks. |
| Read More...(Source: - Tue, 03 Nov 2009 00:00:14 EST) |
|
| British government moves to downsize bailed-out U.K. banks |
| LONDON -- The British government is moving to break up parts of major financial institutions bailed out by taxpayers, with a restructuring plan expected to be unveiled as soon as Tuesday. The move highlights a growing divide across the Atlantic over how to deal with the massive banks partially nationalized during the height of the financial crisis. |
| Read More...(Source: - Tue, 03 Nov 2009 00:00:00 EST) |
|
| Fed gives Wall Street a deadline on pay plan |
| NEW YORK -- Summoned to the ornate Lower Manhattan headquarters of the New York Federal Reserve building on Monday, Wall Street's top bankers were given a Feb. 1 deadline to submit proposals for how they plan to improve their pay practices, people with knowledge of the meeting said. |
| Read More...(Source: - Tue, 03 Nov 2009 00:00:00 EST) |
|
| Goldman seeks to buy Fannie Mae assets |
| Goldman Sachs is proposing to buy millions of dollars in assets from struggling mortgage finance giant Fannie Mae, an offer a recent Treasury Department analysis found would not be advantageous for taxpayers, people familiar with the matter said. |
| Read More...(Source: - Tue, 03 Nov 2009 00:00:00 EST) |
|
| Deals: Davis mutual fund firm lowers fees |
| It's fun writing about Wall Street's greedheads and tax dodgers. But every once in a while, I get to write about something positive -- and unpublicized -- that some Wall Street types have done. Today's reversal of the Street's natural order involves Davis Advisers. |
| Read More...(Source: - Tue, 03 Nov 2009 00:00:00 EST) |
|
| Justices tackle case on investment fees |
| Several Supreme Court justices on Monday seemed reluctant to make the courts arbiters of whether mutual fund investment advisers are charging excessive fees for their work on what has become an essential investment tool for Americans. |
| Read More...(Source: - Tue, 03 Nov 2009 00:00:00 EST) |
|
| Avoid another Madoff, put a higher value on government work |
| In his own telling, Bernard Madoff was a version of the serial killer who leaves notes saying, "Stop me before I kill again." In Madoff's case, he was waiting for the Securities and Exchange Commission to ask him how he took in billions of dollars, never invested any of it and was reporting steady investment earnings. The answer, it seems, is that he had accomplices -- the Keystone Kops of the SEC who were always letting Madoff down: "I wish they caught me six years ago, eight years ago." So do others. |
| Read More...(Source: - Tue, 03 Nov 2009 00:00:00 EST) |
|
| Will the Supreme Court protect your money from excessie mutual fund fees? |
| Yesterday the Supreme Court heard arguments in a case on excessive compensation in the financial services industry. Commentators looking for a news hook are analogizing the case to the current debate about excessive pay on Wall Street and the legality of government measures to regulate compensation practices. That's a bit of a stretch. But this case could be even more important on its own, even leaving aside the financial crisis. |
| Read More...(Source: - Mon, 02 Nov 2009 23:56:55 EST) |
|
| 'Pay czar,' Fed move forward on compensation plans |
| WASHINGTON -- The government's "pay czar" expects compensation plans for additional employees at the seven companies getting the biggest bailouts to be in place by year's end, while the Federal Reserve will soon start its own work on banks' pay practices. |
| Read More...(Source: - Mon, 02 Nov 2009 19:45:37 EST) |
|
| Volatility returns to markets, pulls Dow off highs |
| NEW YORK -- After months on hiatus, volatility is back on Wall Street. |
| Read More...(Source: - Mon, 02 Nov 2009 18:10:21 EST) |
|
| Taking down failures: Who pays, when and how much? |
| WASHINGTON -- House Democrats are balking at an Obama administration plan that would put taxpayers on the hook for up to five years to dismantle any giant financial firm whose failure could repeat last year's Wall Street collapse. |
| Read More...(Source: - Mon, 02 Nov 2009 17:56:16 EST) |
|
| Agencies: Glitch with foreign SS numbers is fixed |
| CONCORD, N.H. -- Two federal agencies that put Americans at risk for identity-theft-like problems have fixed a glitch that linked U.S. Social Security numbers to those issued by three foreign countries, officials said. |
| Read More...(Source: - Mon, 02 Nov 2009 17:53:17 EST) |
|
| CIT Group's biggest hurdle: Keeping customers |
| NEW YORK -- A Chapter 11 filing usually means the end of the road for financial companies since they rely so heavily on customer trust. CIT Group Inc. is hoping that its case will be different. |
| Read More...(Source: - Mon, 02 Nov 2009 17:20:27 EST) |
|
| Stocks end higher on factory, housing data |
| NEW YORK (Reuters) - U.S. stocks rose on Monday after another round of solid economic reports but pulled off session highs after a Federal Reserve official's warning about banks' loan losses. |
| Read More...(Source: - Mon, 02 Nov 2009 17:15:45 EST) |
|
| FDIC's Bair pushes for regulatory changes |
| MANHATTAN, Kan. -- The head of the Federal Deposit Insurance Corp. on Monday said Congress needs to provide regulators greater tools to control the risky financial behavior that helped trigger the recession and to unwind major firms on the verge of collapse. |
| Read More...(Source: - Mon, 02 Nov 2009 16:35:56 EST) |
|
| GAO: Full recovery of auto investment unlikely |
| WASHINGTON -- Taxpayers are unlikely to recover their full investment in General Motors or Chrysler, government investigators said Monday in the latest review to cast doubts that the government will recoup the $80 billion it poured into the two automakers. |
| Read More...(Source: - Mon, 02 Nov 2009 15:53:18 EST) |
|
| Justices seem unwilling to get involved in fees |
| WASHINGTON -- Several Supreme Court justices seemed unsympathetic Monday to calls for the courts to get involved in reining in what investors are calling "excessive" fees on mutual funds, a popular investment vehicle for millions of Americans. |
| Read More...(Source: - Mon, 02 Nov 2009 15:27:25 EST) |
|
| Health care plan hits rich with big tax increases |
| WASHINGTON -- The typical family would be spared higher taxes from the House Democratic plan to overhaul health care, and their low-income neighbors could come out ahead. |
| Read More...(Source: - Mon, 02 Nov 2009 13:01:44 EST) |
|
| Fed to hold rates at record-low, but cracks emerge |
| WASHINGTON -- Even with the Federal Reserve widely expected to leave interest rates at a record low this week to nurture the fragile recovery, fissures are growing among policymakers about when to start boosting rates to head off inflation. |
| Read More...(Source: - Mon, 02 Nov 2009 13:01:00 EST) |
|
| UK's bailed-out banks forced into overhaul |
| LONDON -- News that Britain's bailed-out banks may have to sell more of their businesses in return for being rescued jangled market nerves Monday, with Royal Bank of Scotland, Lloyds Banking Group and the wider financial sector facing a crucial week in the road to recovery. |
| Read More...(Source: - Mon, 02 Nov 2009 11:32:37 EST) |
|
| Goodbye to all that stimulus? |
| NEW YORK (Reuters) - The U.S. economy has been kick-started into growth but stock investors still face an uncertain outlook as Wall Street gears up for comments from the Federal Reserve and a key report on employment this week. |
| Read More...(Source: - Mon, 02 Nov 2009 00:52:10 EST) |
|
| Retail faces uncertainty as CIT enters bankruptcy |
| WASHINGTON -- The bankruptcy of a key lender that helps retailers stock their shelves is adding to the industry's worries ahead of the critical holiday shopping season. |
| Read More...(Source: - Mon, 02 Nov 2009 00:09:49 EST) |
|
| Lender CIT Group files for Chapter 11 bankruptcy protection |
| NEW YORK -- CIT Group, a major lender to small and medium-size businesses, filed for bankruptcy protection Sunday afternoon, a process that almost certainly will wipe out the federal government's $2.3 billion investment in the company. |
| Read More...(Source: - Mon, 02 Nov 2009 00:00:00 EST) |
|
| CIT Group files for bankruptcy |
| NEW YORK (Reuters) - CIT Group Inc, a lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, as the global financial crisis left it unable to fund itself and the recession clobbered its loans. |
| Read More...(Source: - Sun, 01 Nov 2009 20:14:38 EST) |
|
| UK; 3 big banks to sell 100s of branches |
| LONDON -- Big British banks bailed out by taxpayers in the wake of the credit crunch will have to sell off large chunks of their businesses in exchange for the billions in state aid they received during the crisis, the government said Sunday. |
| Read More...(Source: - Sun, 01 Nov 2009 20:01:24 EST) |
|
| After stock market slide data take on new urgency |
| NEW YORK -- After a forceful reminder that the third quarter is history, stock investors are now uneasy about the final months of the year. |
| Read More...(Source: - Sun, 01 Nov 2009 15:05:16 EST) |
|
| States to play key role in reform |
| A growing debate over whether to let states opt out of any government-run health insurance plan overlooks a key facet of the health-care measures being assembled in Congress: When Washington is done, the shape of any new health-care system is likely to be finalized in Lansing and Boise and Baton Rouge. |
| Read More...(Source: - Sun, 01 Nov 2009 10:34:00 EST) |
|
| Madoff documents reveal incredulous, unfocused SEC |
| NEW YORK/WASHINGTON (Reuters) - U.S. securities investigators raised repeated concern over how Bernard Madoff could be running an honest business, but never followed through on the many red flags they uncovered. |
| Read More...(Source: - Sun, 01 Nov 2009 09:00:27 EST) |
|
| After all the fuss, public health plan covers few |
| WASHINGTON -- What's all the fuss about? After all the noise over Democrats' push for a government insurance plan to compete with private carriers, coverage numbers are finally in: Two percent. |
| Read More...(Source: - Sun, 01 Nov 2009 07:35:19 EST) |
|
| After all the fuss, public health plan covers few |
| WASHINGTON -- What's all the fuss about? After all the noise over Democrats' push for a government insurance plan to compete with private carriers, coverage numbers are finally in: Two percent. |
| Read More...(Source: - Sun, 01 Nov 2009 01:44:26 EDT) |
|
| Scorn for property taxes drives NJ governor's race |
| PARAMUS, N.J. -- It sounds like another New Jersey joke. Except it's not funny if you actually live here. |
| Read More...(Source: - Sun, 01 Nov 2009 01:29:03 EDT) |
|
| Health-care reform likely to be shaped in statehouses |
| The debate over whether to let states opt out of any government-run health insurance plan overlooks a key facet of the health-care measures being assembled in Congress: When Washington is done, the shape of any new health-care system is likely to be finalized in Lansing and Boise and Baton Rouge. |
| Read More...(Source: - Sun, 01 Nov 2009 00:00:00 EDT) |
|
| Defining excessive pay |
| The Supreme Court this week will hear a case that raises bedrock questions about the ability of the market to set "reasonable" corporate compensation, and experts say its outcome could hold important clues about the judiciary's view of extraordinary interventions in the economy by the executive branch and Congress. |
| Read More...(Source: - Sun, 01 Nov 2009 00:00:00 EDT) |
|
| Isabel Sawhill and Ron Haskins -- Five myths about our land of opportunity |
| Americans have always believed that their country is unique in providing the opportunity to get ahead. Just combine hard work with a bit of talent and you'll climb the ladder -- or so we've told ourselves for generations. But rising unemployment and financial turmoil are puncturing that self-image. The reality of this "land of opportunity" is considerably more complex than the myths would suggest: |
| Read More...(Source: - Sun, 01 Nov 2009 00:00:00 EDT) |
|
| Depression diary: When the banks went dark |
| Eighty years ago this week, the United States experienced the worst meltdown of the stock market in the nation's history. As the effects of the crash rippled through the broader economy, banks began closing their doors in record numbers. |
| Read More...(Source: - Sun, 01 Nov 2009 00:00:00 EDT) |
|
| Frank says overdraft protection should be 'opt-in' |
| Bank overdraft fees as high as $39 on debit card transactions aren't "favors" for consumers if they haven't asked for them, House Financial Services Committee Chairman Barney Frank said. |
| Read More...(Source: - Sun, 01 Nov 2009 00:00:00 EDT) |
|
| UK to shake up banking, 100s of branches for sale |
| LONDON -- The Royal Bank of Scotland, Northern Rock, and Lloyds Banking Group are to sell off as many as 700 branches in the next few years in exchange for the public aid they received during the economic meltdown, a government official told The Associated Press on Saturday. |
| Read More...(Source: - Sat, 31 Oct 2009 19:54:50 EDT) |
|
| Former hedge fund executive charged by SEC |
| BOSTON (Reuters) - A former top executive at hedge fund firm ValueAct Capital is one of seven people charged with trading on inside information in Acxiom Corp. |
| Read More...(Source: - Sat, 31 Oct 2009 18:34:50 EDT) |
|
| Retirement can be only as secure as your retirement home |
| Is your retirement secure? For some people who thought they had taken care of everything, the answer may be riding on another question: Is your retirement community secure? |
| Read More...(Source: - Sat, 31 Oct 2009 13:00:00 EDT) |
|
| Federal regulators close 9 banks, mostly in West |
| NEW YORK -- Regulators have shut California National Bank of Los Angeles and eight smaller related banks as the weak economy continues to produce a stream of loan defaults. |
| Read More...(Source: - Sat, 31 Oct 2009 09:29:57 EDT) |
|
| ALL BUSINESS: Credit-card rates up before new law |
| NEW YORK -- Have you checked the interest rates on your credit cards lately? Odds are they're going way up. |
| Read More...(Source: - Sat, 31 Oct 2009 06:31:37 EDT) |
|
| Madoff: Had 'too much credibility' with SEC |
| WASHINGTON -- As Bernard Madoff sat in jail a few months after pleading guilty to fraud, he sounded faintly boastful. |
| Read More...(Source: - Sat, 31 Oct 2009 06:26:13 EDT) |
|
| Federal regulators close 9 banks, mostly in West |
| NEW YORK -- Regulators on Friday shut California National Bank of Los Angeles and eight smaller related banks as the weak economy continues to produce a stream of loan defaults. |
| Read More...(Source: - Sat, 31 Oct 2009 02:09:47 EDT) |
|
| ALL BUSINESS: Credit-card rates up before new law |
| NEW YORK -- Have you checked the interest rates on your credit cards lately? Odds are they're going way up. |
| Read More...(Source: - Sat, 31 Oct 2009 01:17:54 EDT) |
|
| Nine U.S. banks seized in largest one-day haul |
| LOS ANGELES (Reuters) - U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation's banking industry are being crippled by bad loans. |
| Read More...(Source: - Sat, 31 Oct 2009 00:11:46 EDT) |
|
| Lurking doubts launch a sell-off |
| Wall Street recorded its sharpest drop in six months Friday as investors, who have been groping for evidence that an economic recovery is gaining steam, responded to renewed signs of weakness calling into question how vigorous the rebound might be. |
| Read More...(Source: - Sat, 31 Oct 2009 00:00:00 EDT) |
|
| As change threatens, small banks wield powerful lobby |
| Hundreds of small-town bankers had converged on Washington for their annual conference five months ago when Treasury Secretary Timothy F. Geithner, addressing them in the chandeliered ballroom of the Grand Hyatt, gave notice that the financial industry was about to change. |
| Read More...(Source: - Sat, 31 Oct 2009 00:00:00 EDT) |
|
| CIT preparing to file for bankruptcy protection |
| NEW YORK -- CIT Group, a major lender to small businesses, is preparing to file for Chapter 11 bankruptcy protection as early as this weekend, sources familiar with the matter said Friday, which would likely wipe out the federal government's $2.3 billion stake in the company. |
| Read More...(Source: - Sat, 31 Oct 2009 00:00:00 EDT) |
|
| Home appraisal system could be rehauled soon |
| Could the controversial appraisal system imposed nationwide by mortgage giants Fannie Mae and Freddie Mac in May -- and now tied to lowball property valuations, busted home sale transactions and higher fees to consumers -- be on its way out? |
| Read More...(Source: - Sat, 31 Oct 2009 00:00:00 EDT) |
|
| Mortgage rates rise for third week |
| Rates for 30-year home loans climbed to 5.03 percent this week, the third consecutive weekly increase. |
| Read More...(Source: - Sat, 31 Oct 2009 00:00:00 EDT) |
|
| Foreclosed home can still have liens |
| Q: I am in the process of buying a new home. It's a foreclosure. The lender foreclosed on the developer. In doing my due diligence on the purchase, I noticed that some contractors were not paid. Will these contractors be able to put liens on the house after I close? |
| Read More...(Source: - Sat, 31 Oct 2009 00:00:00 EDT) |
|
| Madoff: SEC never thought it was a Ponzi scheme |
| WASHINGTON -- Bernard Madoff was apparently convinced that it never even occurred to Securities and Exchange Commission staff he was running a Ponzi scheme, despite the agency's numerous probes of his business. |
| Read More...(Source: - Fri, 30 Oct 2009 23:17:37 EDT) |
|
| CIT moves closer to pre-packaged bankruptcy approval |
| NEW YORK (Reuters) - CIT Group has met at least one of the hurdles necessary to file for a prepackaged bankruptcy, sources said, bringing the commercial lender one step closer to the fast bankruptcy process it is seeking to lower its liabilities and get back to health. |
| Read More...(Source: - Fri, 30 Oct 2009 22:51:51 EDT) |
|
| Ethics panel scrutinizing dozens of House members |
| WASHINGTON -- Dozens of lawmakers have drawn scrutiny from their ethics monitor this year for everything from financial dealings to travel and campaign donations, according to a leaked account showing an active House panel secretly at work. |
| Read More...(Source: - Fri, 30 Oct 2009 22:23:59 EDT) |
|
| Meltdown 101: What to know if your bank fails |
| NEW YORK -- Dozens of banks have failed this year. What do you need to know if yours is next? |
| Read More...(Source: - Fri, 30 Oct 2009 22:06:49 EDT) |
|
| Big bank executives to meet with Fed |
| WASHINGTON -- Executives of the nation's 28 largest banks will meet with Federal Reserve supervisors on Monday to discuss the Fed's plan to police banks' pay policies, officials said Friday. |
| Read More...(Source: - Fri, 30 Oct 2009 21:15:58 EDT) |
|
| Investor details $60M lost in alleged Petters scam |
| ST. PAUL, Minn. -- Jurors in a Minnesota businessman's fraud trial heard Friday how one hedge fund was fooled into losing $60 million in what prosecutors call one of the largest Ponzi schemes ever uncovered. |
| Read More...(Source: - Fri, 30 Oct 2009 19:30:33 EDT) |
|
| Stocks swoon as worries about the economy return |
| NEW YORK -- Grim signals about consumer spending ripped through the markets Friday, sending stocks tumbling as investors raced for safe havens. |
| Read More...(Source: - Fri, 30 Oct 2009 18:07:39 EDT) |
|
| Stocks tumble on recovery jitters, financials |
| NEW YORK (Reuters) - The Dow industrials suffered its worst slide since July on Friday on concerns that the economic recovery won't be robust enough to sustain the seven-month stock rally, while financials sank on renewed worries about Citigroup's balance sheet. |
| Read More...(Source: - Fri, 30 Oct 2009 17:47:24 EDT) |
|
| Business events scheduled for the coming month |
| -- MONDAY, Nov. 2 |
| Read More...(Source: - Fri, 30 Oct 2009 17:41:37 EDT) |
|
| Business events scheduled for the coming week |
| -- MONDAY, Nov. 2 |
| Read More...(Source: - Fri, 30 Oct 2009 17:39:38 EDT) |
|
| CIT Group receives $1 billion loan from Icahn |
| NEW YORK -- Commercial lender CIT Group Inc. said Friday that billionaire investor and bondholder Carl Icahn agreed to support the company's restructuring plan amid reports CIT may soon file for bankruptcy protection. |
| Read More...(Source: - Fri, 30 Oct 2009 16:55:05 EDT) |
|
| Extradited banking fugitive arrives in Thailand |
| BANGKOK -- A fugitive former adviser to a Thai bank whose failure caused a crisis of confidence that helped spark the 1997 Asian financial meltdown arrived Friday night in Bangkok after his extradition from Canada. |
| Read More...(Source: - Fri, 30 Oct 2009 14:55:05 EDT) |
|
| Democrats want to curb banks' overdraft fees |
| WASHINGTON -- Senior congressional Democrats say legislation is still needed to limit how lenders charge customers who overspend on their accounts, even though some big banks have already curbed high-fee overdraft programs. |
| Read More...(Source: - Fri, 30 Oct 2009 13:48:42 EDT) |
|
| NYSE Euronext sells stake in derivatives platform |
| NEW YORK/LONDON (Reuters) - NYSE Euronext said it sold a big stake in its U.S. derivatives trading platform to five powerful market players, following the pattern of exchange operators partnering with dealers in the face of possibly sweeping regulatory changes. |
| Read More...(Source: - Fri, 30 Oct 2009 13:37:46 EDT) |
|
| Real Estate Live |
| Post Real Estate columnist Elizabeth Razzi discussed the local housing market -- from condos and investment properties to contracts and mortgages on Friday, October 30, at 1 p.m. ET. |
| Read More...(Source: - Fri, 30 Oct 2009 13:00:00 EDT) |
|
| Lawmakers attack bank overdraft fees |
| WASHINGTON (Reuters) - U.S. lawmakers and consumer activists on Friday highlighted the need to reform overdraft fees that banks charge their customers, saying all too often a cup of coffee can wind up costing $40. |
| Read More...(Source: - Fri, 30 Oct 2009 11:51:54 EDT) |
|
| ND lawmakers exploring property tax credits |
| BISMARCK, N.D. -- State lawmakers are exploring whether to give most North Dakota homeowners the benefit of a property tax credit normally reserved for seniors and people with disabilities. |
| Read More...(Source: - Fri, 30 Oct 2009 10:45:52 EDT) |
|
| Fugitive banker extradited to Thailand |
| VANCOUVER, British Columbia -- A fugitive banker's long fight against extradition ended Thursday as he was put on a plane back to Thailand, where he faces charges of fraud that Thai officials say contributed to the 1990s Asian financial crisis. |
| Read More...(Source: - Fri, 30 Oct 2009 08:53:41 EDT) |
|
| Stocks extend gains; caution returns |
| LONDON (Reuters) - World stocks crept higher on Friday, extending gains following the United States' jump out of recession, while the dollar drifted ahead of more U.S. data that will add fuel to the recovery debate. |
| Read More...(Source: - Fri, 30 Oct 2009 06:20:27 EDT) |
|
| Stocks sizzle as China debuts start-ups market |
| SHANGHAI (Reuters) - The ChiNext stock market , China's long-awaited Nasdaq-style second board, debuted on Friday with a speculative surge that more than doubled the price of all 28 stocks during intraday trade -- a good sign for companies lining up to list on China's stock markets. |
| Read More...(Source: - Fri, 30 Oct 2009 04:38:48 EDT) |
|
| Details on health care bills in House, Senate |
| WASHINGTON -- House Democratic leaders have presented a new health overhaul bill that melds legislation passed by three committees over the summer and makes a series of changes to accommodate lawmakers' concerns. |
| Read More...(Source: - Fri, 30 Oct 2009 03:52:16 EDT) |
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| Asia stocks rebound from slide, earnings a boost |
| HONG KONG (Reuters) - Asian stocks bounced back on Friday from their worst drop in two months after the United States pulled out of its worst slump since the Great Depression, which suggested that momentum of the global recovery is picking up. |
| Read More...(Source: - Fri, 30 Oct 2009 02:56:55 EDT) |
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| Ethics panel starts probes of 2 Dems, gets hacked |
| WASHINGTON -- The House ethics committee announced Thursday it is investigating two California Democratic lawmakers, but its embarrassed leaders then had to explain that other members - named in a confidential memo that leaked out - may have committed no wrongdoing. |
| Read More...(Source: - Fri, 30 Oct 2009 02:11:14 EDT) |
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