All Entries in the "Business News" Category
Bank of America’s Merrill Lynch Deal: Public Hearing Set
A new date for a public hearing has been set by a congressional committee investigating Bank of America’s (NYSE:BAC) purchase of Merrill Lynch.
CIT Group: Leaner and Stronger After Bankruptcy
It does seem strange just a couple of years ago, just the mention of multibillion-dollar company going bankrupt would have sent the stock market into a panic. Now we just nod our heads and wonder who is next.
AIG Posts Second Profitable Quarter: Future More Volatile
AIG has reported second profitable quarter in a row the troubled insurer said it continues to benefit from stabilization in the housing and credit markets, however the insurance giants say future quarters will continue to be volatile.
Sterling Edged up on Dollar Following Quantitative Easing
Sterling got a little stronger against the dollar on Friday, supported after the Bank of England raised its quantitative easing programme by less than many had forecast.
If Quantitative Easing Fails, What Next
Bank of England announced yesterday that it will pump a further £25bn of freshly created money into the economy as we recently reported but what is quantitative easing?
RBS Third Quarter Loss £3.3 Billion: Bad Loans and Writedowns
Britain’s largest government controlled bank the Royal Bank of Scotland Group Plc (LON:RBS), have announced a third quarter loss after £3.3 billion ($5.5 billion) of provisions for bad loans and credit-market write downs.
Warren Buffett on Berkshire Hathaway
Becky Quick from CNBC was told by Warren Buffett that Berkshire Hathaway (NYSE:BRK.A) has talked to five big financial firms about buying their tax credits; he can’t name any names due to confidentiality agreements.
RBS: Citizens Bank Won’t Be Sold
Citizens Bank will not be sold off, as European regulators spared the company from a possible forced sale tied to the breakup of the Royal Bank of Scotland (LON:RBS).
Quantitative Easing Explained: Pros and cons
The Bank of England will expand its programme of money creation by £25bn over the next three months, to boost Britain’s recession hit economy.
Lloyds and RBS cause bank share prices to waver again
Speculation about Lloyds Banking Group (LON:LLOY) and Royal Bank of Scotland (LON:RBS) after this week’s announcement that they must sell some subsidiaries caused share prices to waver again.
Cit Bankruptcy Filing Update: Exit Plan
CIT Group Inc the Commercial lender, based in New York, filed for bankruptcy protection on Nov. 1 after it had negotiated an exit plan with lenders to try to ensure a speedy exit as we recently reported.
Online banking customers get free fraud protection
Prevx will be offereing free security software to protect against malicious banking Trojans to all businesses that sign up. Banking, government and e-commerce sites have been offered the opportunity to sign up to the software called SafeOnline.
Premium Bonds: New guaranteed growth from NS&I
A new Issues of NS&I (National Savings and Investments) Guaranteed Growth Bonds and Guaranteed Income Bonds, are being released with immediate effect, however they are not available through the Post Office.
More HSBC Jobs to be lost
More of the workforce will be cut from HSBC (LON:HSBA) as pressure mounts across the banking industry to cut costs.
Government rules doesn’t stop cash payout
It seems that despite the bank’s promise to only pay rewards in shares, hundreds of Royal Bank of Scotland (LON:RBS) top traders could walk away with huge cash bonuses next summer.