International Business News - Financial crisis http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Ramani Ayer, 62, who led Hartford Financial Services Group for 12 years as chief executive said he will retire from his CEO and chairman positions by the end of the year after a tumultuous two years where the firm has been hard hit by the current economic downturn and financial crisis. http://www.ibtimes.com/data/articleimgs/214707-ramani-ayer.jpg http://www.ibtimes.com/articles/20090604/hard-hit-crisis-hartford-chief-ayer-retire-lsquo-it-is-right-time-rsquo.htm http://www.ibtimes.com/articles/20090604/hard-hit-crisis-hartford-chief-ayer-retire-lsquo-it-is-right-time-rsquo.htm Thu, 04 Jun 2009 14:17:05 EDT Fannie Mae chief executive Herb Allison is the top candidate to run the federal government's financial bailout program, the Wall Street Journal reported. http://www.ibtimes.com/articles/20090413/obama-tap-fannie-mae-ceo-head-tarp.htm Mon, 13 Apr 2009 23:55:24 EDT The financial crisis is happening so fast that books about it can be outdated before they hit the shelves. Some U.S. publishers and authors are responding by bringing books to market faster. http://www.ibtimes.com/articles/20090410/business-books-financial-crisis-lights-fire-under-publishers.htm Fri, 10 Apr 2009 10:45:48 EDT The head of the Federal Reserve Bank of Kansas City outlined his suggestions for principles which should guide the resolution process if financial institutions fail. http://www.ibtimes.com/articles/20090409/fed-039hoening-proposes-guide-dealing-with-bank-failures.htm Thu, 09 Apr 2009 15:45:41 EDT Stronger emerging economies are likely to pull further ahead from weaker peers following the moves by global leaders to augment the lending capacity of the International Monetary Fund. http://www.ibtimes.com/data/articleimgs/211896-imf.jpg http://www.ibtimes.com/articles/20090409/imf-boost-widen-split-emerging-economies.htm http://www.ibtimes.com/articles/20090409/imf-boost-widen-split-emerging-economies.htm Thu, 09 Apr 2009 11:50:02 EDT When it comes to paying back the financial bailout loans issued by the government in the last half year, the interests of taxpayers and banks come into play. http://www.ibtimes.com/articles/20090408/regulators-hold-on-tarp-money-some-time.htm Wed, 08 Apr 2009 16:00:08 EDT Partly nationalized British lender Royal Bank of Scotland may cut more than 9,000 jobs in the next two years, or about 5 percent of its total workforce. http://www.ibtimes.com/data/articleimgs/211741-rbs.jpg http://www.ibtimes.com/articles/20090407/rbs-more-jobs-as-uk-takes-tighter-grip.htm http://www.ibtimes.com/articles/20090407/rbs-more-jobs-as-uk-takes-tighter-grip.htm Tue, 07 Apr 2009 10:26:21 EDT Citigroup is pressing on with its corporate revamp to make the most of its "non-core" non-bank businesses, announcing that the interim leader for its Citi Holdings unit will stay on. http://www.ibtimes.com/articles/20090406/citi-revamp-moves-forward-ceo-named-ldquo-non-core-rdquo-unit.htm Mon, 06 Apr 2009 19:21:44 EDT The chief executive of spain's largest bank, Banco Santander SA said it has no need to buy mid-sized banks in the country, according to a report. http://www.ibtimes.com/articles/20090405/santander-says-no-mid-size-bank-buys.htm Sun, 05 Apr 2009 23:02:36 EDT Treasury Secretary Timothy Geithner said Sunday that banks needing ‘exceptional' U.S. aid may be forced to make management and board changes. http://www.ibtimes.com/articles/20090405/geithner-remarks-on-bailout.htm Sun, 05 Apr 2009 23:00:46 EDT Swiss banking giant UBS has banned travel for over 1,000 financial advisers as the company reviews its policies, following a scandal in which the bank admitted helping some of its customers evade taxes. http://www.ibtimes.com/articles/20090405/ubs-bans-travel-some-advisors.htm Sun, 05 Apr 2009 22:59:11 EDT A pair professors expressed concern that it would not be proper for banks who have received government bailout funds to buy the same type of toxic assets which have caused them problems previously as part of a government public-private investment program. http://www.ibtimes.com/articles/20090403/us-report1.htm Fri, 03 Apr 2009 23:52:36 EDT The Federal Reserve's programs to boost credit and liquidity in financial markets have more than doubled the size of the central bank's balance sheet and it is set to grow much larger, Fed chief Ben Bernanke said today. http://www.ibtimes.com/data/articleimgs/211616-fed-chairman-ben-bernanke.jpg http://www.ibtimes.com/articles/20090403/fed-balance-sheet-attrillion-set-grow-larger-bernanke.htm http://www.ibtimes.com/articles/20090403/fed-balance-sheet-attrillion-set-grow-larger-bernanke.htm Fri, 03 Apr 2009 15:31:42 EDT While G20 nations were unified in announcing $1 trillion in new financing to help the world's economy recover, their approach to dealing with toxic assets clogging bank balance sheets will be a local effort as conditions vary by country. http://www.ibtimes.com/articles/20090403/g20-says-toxic-assets-woes-be-resolved-locally.htm Fri, 03 Apr 2009 11:13:33 EDT Royal Bank of Scotland will cut more jobs, Chairman Philip Hampton warned on Friday as he called for an end to the "public flogging" of the state-rescued bank over its past mistakes. http://www.ibtimes.com/data/articleimgs/211608-.jpg http://www.ibtimes.com/articles/20090403/rbs-more-jobs.htm http://www.ibtimes.com/articles/20090403/rbs-more-jobs.htm Fri, 03 Apr 2009 10:14:57 EDT Former AIG chief executive testified before a congressional committee on Thursday that when he left the company several years ago, it was still in good financial shape. http://www.ibtimes.com/articles/20090402/lawmakers-over-aig-mess.htm Thu, 02 Apr 2009 23:59:10 EDT The G20 statement on restoring the global economy the start of the current financial crisis lacks specifics on how nations will deal with toxic assets which have resulted in huge losses at companies around the world, saying banking systems have already been given support. http://www.ibtimes.com/articles/20090402/toxic-assets-missing-from-g20.htm Thu, 02 Apr 2009 23:58:29 EDT An agreement reached by the Group of 20 leaders from industrialized and emerging nations said today the supported a new SDR allocation of $250 billion. http://www.ibtimes.com/articles/20090402/what-is-an-sdr.htm Thu, 02 Apr 2009 23:57:14 EDT Billionaire investor George Soros believes the Group of Twenty nations have done better than expected and have gotten ahead of the problems which face the world's financial system. http://www.ibtimes.com/articles/20090402/g20-039crisis-bargain-big-spending-clamp-down-on-financial-markets.htm Thu, 02 Apr 2009 23:43:35 EDT World leaders clinched a $1.1 trillion deal on Thursday to combat the worst economic crisis since the Great Depression and said financial rules would be tightened to stop it happening again. http://www.ibtimes.com/data/articleimgs/211568-jintao-and-obama.jpg http://www.ibtimes.com/articles/20090402/g20-seals1-trillion-deal-markets-rally.htm http://www.ibtimes.com/articles/20090402/g20-seals1-trillion-deal-markets-rally.htm Thu, 02 Apr 2009 18:41:52 EDT