Citigroup Inc, the bank bailed out with $45 billion of U.S. taxpayers' money, is using almost all of that money to make new loans, the Associated Press said citing a report scheduled for release on Tuesday morning.
Bank of America sold about $7.3 billion worth of shares in China Construction Bank , Bloomberg reported citing two people familiar with the transaction, as the struggling U.S. bank seeks to raise money amid the financial crisis.
Software piracy grew last year, accounting for 41 percent of all PC software installed, with losses to companies estimated at $53 billion, the Business Software Alliance said on Tuesday.
MBIA Inc , once the largest U.S. bond insurer, reported Monday it had swung to a first-quarter profit after a huge year-earlier loss, sending its shares up 18 percent in after-hours trade.
Oil prices fell for a second straight day on Tuesday, consolidating after touching a six-month peak last week, on weaker equities and a firm dollar.
The Nikkei average fell 0.7 percent on Tuesday after booking a six-month closing high the previous day, with bank shares such as Mitsubishi UFJ Financial Group taking a breather following sharp gains fueled by optimism about the U.S. banking system.
Four large U.S. banks which passed the U.S. government’s economic stress test last week announced plans today to sell up to $6.5 billion in common stock to the public and repurchase preferred stock and warrants issued by the Treasury department under the TARP financial bailout.
The U.S. Air Force on Monday said it was working with Lockheed Martin Corp and Boeing Co to harvest for future use any government-owned property or ground stations developed for a canceled satellite communications program.
MBIA Inc , once the largest U.S. bond insurer, reported Monday it had swung to a first-quarter profit after a huge year-earlier loss, sending its shares 26 percent higher in after-hours trade.
Digital Globe Inc, a satellite image provider, is set to debut on the New York Stock Exchange on Thursday with a planned $250 million IPO offering.
(In the final paragraph please correct to read ...seeking to derail the plan, not ...seeking details of the plan, as first sent)
Millions of children in Mexico returned to school on Monday to freshly cleaned and disinfected classrooms following more than two weeks of closure caused by the swine flu outbreak.
High-profile New York lawyer Marc Dreier pleaded guilty on Monday to criminal charges of running a $400 million investment fraud involving fake promissory notes, and a judge released him into house arrest until sentencing.
The United States said Monday that it would provide $4.9 million in emergency aid to help the refugees displaced by the current anti-Taliban offensive in northwest Pakistan.
High-profile New York lawyer Marc Dreier pleaded guilty on Monday to criminal charges of running an investment fraud in the hundreds of millions of dollars involving fake promissory notes.
For the time being, Miss California, Carrie Prejean will be keeping her crown but not her duties as, according to pageant organizers, has violated her contract. Her fate is expected to be announced on Tuesday by Miss USA owner Donald Trump.
A U.S. soldier opened fire on fellow troops at a counseling center on a military base Monday, killing five before being taken into custody, the U.S. command and Pentagon officials said.
U.S. Defense Secretary Robert Gates on Monday replaced the top U.S. and NATO commander in Afghanistan and picked a former special forces commander to oversee President Barack Obama's military strategy against a growing Taliban insurgency.
Consumers in debt can be given the chance to regain their older, lower rates if they pay their bills on time for six months, a compromise reached by lawmakers seeking changes in federal law governing the credit card industry.
The new H1N1 virus shows no signs of sustained person-to-person spread outside of North America and so has not yet tipped over into a pandemic, a top World Health Organization official said on Monday.
Four big U.S. banks on Monday said they would sell $6.55 billion of common stock and repay funds from the government's bank bailout program, after federal stress tests showed they can weather a deep recession without new capital.
The Obama administration cannot start dealing with the short-term challenges presented by the deficit until it gets the economy moving, White House spokesman Robert Gibbs said on Monday.
