Bank of America report $2.2 billion net loss for 2009
America’s biggest financial Bank, the Bank of America (BoA) has made a $2.2 billion net loss for 2009 after counting the cost of repaying a $45 billion bailout to the US Government.
FSA fine Standard Life for misleading public
Standard Life (LON:SL) the pension provider has had their knuckles rapped and a fine of £2.45m for publishing misleading literature about one of its investment funds. It is believed that 98,000 investors have been misled.
Financial Crisis Inquiry Commission to grill bank executives
Top bank executives can expect a grilling when they appear before a Congressional appointed panel investigating the causes of the financial collapse. The Commission was set up by Congress.
Oil prices make U.S. Trade Gap widen
Oil prices have made the U.S. trade deficit ballooned in November, as the price of the black gold jumped more than $5 per barrel to $72.54, the highest since October 2008.
RBS chief executive told he is paid to much by parents
Royal Bank of Scotland chief executive Stephen Hester told parliament that even his parents believed that he was overpaid. Hester was answering questions put to him by the Treasury Select Committee of MPs.