Authorities in Britain and Australia have requested information from UBS after the Swiss bank agreed in August to disclose some 4,450 client names to settle a U.S. tax case, the bank confirmed on Sunday.
Treasury Secretary Timothy Geithner on Saturday stressed the necessity of keeping global economic stimulus in place until recovery is assured and opposed the utility of a tax on financial transactions as a way to dampen risky bank behavior.
Treasury Secretary Timothy Geithner on Saturday stressed the necessity of keeping global economic stimulus in place until recovery is assured and opposed the utility of a tax on financial transactions as a way to dampen risky bank behavior.
China on Saturday shrugged off international pressure to appreciate its currency, saying developed countries should focus on the quality of their own economic policy-making. Chinese Finance Minister Xie Xuren, speaking after finance ministers and central bank governors of the Group of 20 nations met in Scotland, said countries with global reserve currencies should work to maintain the currencies' value to avoid destabilising the world economy.
Group of 20 finance ministers and central bankers pledged on Saturday to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured.
Treasury Secretary Timothy Geithner on Saturday stressed the necessity of keeping global economic stimulus in place until recovery is assured and opposed the utility of a tax on financial transactions as a way to dampen risky bank behavior.
Wall Street firms are in a quandary about getting involved with a planned public offering of Russian aluminum producer UC RUSAL because its founder has been barred from getting a U.S. visa on account of allegations that he is connected to organized crime, the Wall Street Journal reported on Saturday.
Corruption costs developing nations $20 to $40 billion each year, while emerging markets and financial centers are increasingly havens for stolen assets, a top World Bank official said Saturday.
Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year.
Britain urged world governments on Saturday to consider a levy on banks to fund future bailouts, departing from long-held opposition, though there was little sign of the consensus needed to make it fly.
World governments should consider urgently a levy on banks to fund future bailouts, British Prime Minister Gordon Brown said on Saturday, departing from London's longstanding resistance to a global tax.
U.S. Treasury Secretary Timothy Geithner said high unemployment rates show that economic recovery is still perilous and governments need to maintain stimulus as long as necessary to ensure sustained growth.
World governments should consider urgently a levy on banks to fund future bailouts, British Prime Minister Gordon Brown said on Saturday, departing from London's longstanding resistance to a global tax.
Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year.
As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer.
Private equity firm Blackstone Group LP posted a forecast-beating quarterly profit on Friday and said it is gearing up for more deals and IPOs as the lending and equity markets recover.
Bank regulators closed Home Federal Savings Bank, of Detroit, on Friday, the 117th U.S. bank to fail this year as deteriorating loans continue to take their toll on financial institutions.
Motorola and Verizon on Friday launched the long-awaited Droid, the first device using version 2.0 of Google's Android operating system, but the device won't be an iPhone killer to Apple, analyst said.
Freddie Mac , the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a prolonged deterioration in housing.
Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.
Forget the buzz over the next Twilight film or James Cameron's Avatar. The biggest entertainment hit of the holiday season may come on Tuesday, when Call of Duty: Modern Warfare 2 hits stores.
Warren Buffett's Berkshire Hathaway Inc on Friday said third quarter net income tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.
Harvard Business School is sending 28 percent of its 2009 graduating class onto careers in finance, a mildly bullish sign for the economy, said Ray Soifer, an independent bank consultant.
A top U.S. securities regulator said some funds may now view insider trading as a central tenet of their business models, rather than as a one-time opportunity for big rewards as sometimes happened in the 1980s.
AIG, the giant insurer bailed out by the U.S. government, posted its second straight quarterly profit, helped by recovery in the value of its investments, but its underlying business remained weak and its shares fell.
U.S. stocks rose 3 percent for the week after ending Friday's session slightly higher, shrugging off government data showing the unemployment rate hit 10.2 percent -- the highest in 26-1/2 years.
Apple garnered record share of the smartphone market through the third quarter, hitting 17 percent, but was overtaken by Blackberry maker Research in Motion, IDC said in its latest report.
U.S. stocks ended slightly higher on Friday, shrugging off government data showing the unemployment rate rose to more than 10 percent.
Wireless LAN vendor Aruba Networks Inc said it will pay Motorola Inc $19.8 million to settle certain long-drawn patent disputes that were a drag on Aruba's earnings.
The U.S. Federal Communications Commission on Thursday gave final approval to AT&T Inc's $944 million bid to buy Centennial Communications Corp.
