CHICAGO - The CEO of International Lease Finance Corp, the aircraft leasing company owned by insurance giant American International Group (AIG.N), is in early talks to buy a portion of ILFC's aircraft portfolio and start a new leasing company, the Wall Street Journal reported on Saturday.
Option ARMs, which accounted for $750 billion in mortgages issued between 2004 and 2007, according to Inside Mortgage Finance, are at serious risk with at least 50 percent already in default.
Three more U.S. banks failed on Friday, bringing the total to 84 so far this year, as the industry continues to grapple with deteriorating loans on their books.
The last week of summer could prove to be anything but relaxing for stock investors worried about the economy, with the crucial August jobs report on the agenda.
U.S. bank regulators closed Mainstreet Bank of Forest Lake, Minnesota, on Friday, the 83rd U.S. bank to fail this year as economic weakness continues to take a toll on financial institutions.
TORONTO - Bank of Montreal, one of Canada's top banks, is suing two U.S.-based brokerages and some of their former officers and shareholders for their part in an intricate fraud carried out by the former head of its commodity derivatives group, court documents showed.
Insurance giant American International Group has paused the auction of its aircraft leasing firm, International Lease Finance Corp. (ILFC), as its new CEO reviews the divestiture process, a source familiar with the situation said on Friday.
Scottish explorer Cairn Energy said on Saturday it may rope in partners if it decides to bid for blocks offered in the latest auction round of Iraq oil fields.
The chief executive of insolvent German retailer Arcandor said its department store business Karstadt could survive independently and may not need to merge with rival Kaufhof, a German magazine reported.
Whirlpool Corp plans to shut a plant in Evansville, Indiana and move some production to Mexico next year, a change that will eliminate about 1.6 percent of the world's biggest appliance maker's workforce.
Ford Motor Co's mid-size 2010 Fusion in August has set a monthly sales record for the model for a fifth consecutive month and average transaction prices have been increasing, Ford said on Friday.
Foxconn, the world's top contract cellphone maker, posted its second straight half-year loss, and said the outlook remained cloudy, underscoring the fragility of the sector's recovery.
Italy's UBI Banca saw net profit fall 75 percent in the first half as revenues fell, the bank said on Saturday.
Two real estate investment trusts filed for initial public offerings on Friday, bringing to eight the number of applications since early July by REITs created by real estate companies seeking to take advantage of the distressed commercial property market.
Qatar Holding LLC aims to become the largest shareholder in Songbird Estates -- owner of much of London's Canary Wharf office complex -- the investment arm of the Qatari wealth fund said late on Friday.
Demand in the ailing forestry sector has stabilised after a grim start to 2009 but controlling costs will remain a major focus for the foreseeable future, paper company executives said on Tuesday.
The roughly 370,000 employees of Volkswagen and Porsche are striving initially to acquire a stake of up to 5 percent in the automotive group, VW's labor chief told a German newspaper.
A U.S. court struck down a rule limiting a cable company to no more than 30 percent of the subscription television market, a victory for companies like Comcast Corp that could spark many industry deals.
A U.S. court struck down a rule limiting a cable company to no more than 30 percent of the subscription television market, a victory for companies like Comcast Corp that could spark many industry deals.
The United States on Friday welcomed Beijing's decision to eliminate additional charges on imported auto parts in a landmark case that ended a grace period for China after it joined the World Trade Organization.
Britain's National Express is looking to raise between 300 million pounds ($488.6 million) and 350 million in a rights issue after rejecting a proposed takeover approach led by its main shareholder.
Worries over high unemployment pushed U.S. consumer confidence to a four-month low in August, while spending rose modestly in July, indicating the economy's recovery from recession would be lethargic.
General Motors may be dragging out a decision on the sale of Opel until after German federal elections in 30 days time, calculating that a new government in Berlin may drop its backing for Magna (MGa.TO).
Apple will sell five to seven million iPhones in China in 2010 as a result of its deal with the country's second-largest mobile carrier, a Wall Street analyst said on Friday.
Whirlpool Corp plans to shut a manufacturing facility in Evansville, Indiana, and move some production to Mexico next year, a change that will eliminate about 1.6 percent of its workforce.
Low interest rates and tax breaks are giving the U.S. housing sector a jolt but, like the
DETROIT - U.S. government incentives likely pushed U.S. auto sales to a 20-month high in August, leaving analysts and the industry guessing how hard a landing to expect with the Cash for Clunkers program now exhausted.
Procter & Gamble Co raised the salary of Bob McDonald by 40 percent to $1.4 million when he took over as chief executive last month, while his predecessor, A.G. Lafley, took home slightly more in his last year as CEO, the company reported on Friday.
WASHINGTON - U.S. drug reviewers questioned findings from biotech company Allos Therapeutics Inc (ALTH.O) on the effectiveness of its proposed drug for an aggressive type of lymphoma, documents released on Friday showed.
NEW YORK - A U.S. government agency has sued United Parcel Service Inc (UPS.N), the world's largest package delivery company, for allegedly violating federal law by limiting workers' ability to take medical leave.
