Comments from two senior Federal Reserve officials on Monday touched on what could become a struggle in the coming months and years over how and when to unwind the bank's dramatically accommodative policy.
The Treasury Department is talking to Citigroup Inc about how to sell the roughly one-third stake the government acquired as part of its bailout of the bank, Bloomberg reported, citing people familiar with the matter.
Bank of New York Mellon may restart trade-finance lending to Russia as a part of an out-of-court settlement of a $22.5 billion lawsuit against the bank, Kommersant business daily and the Wall Street Journal reported on Monday.
President Barack Obama warned financial firms on Monday to heed the lessons of Lehman Brothers' collapse a year ago and get behind a regulatory overhaul he wants Congress to pass this year.
A federal judge rejected Bank of America Corp's $33 million settlement with the U.S. Securities and Exchange Commission over Merrill Lynch & Co bonuses as a contrivance, and New York's top legal officer prepared to sue senior bank executives.
The Australian Dollar opens on Tuesday at 0.8610. In early domestic trade yesterday, the Aussie moved swiftly beneath US86 cents as local equities opened under pressure after a soft lead from Wall Street last Friday.
A federal judge rejected Bank of America Corp's $33 million settlement with the U.S. Securities and Exchange Commission over Merrill Lynch & Co bonuses as a contrivance, and New York's top legal officer prepared possible civil charges against bank executives.
President Barack Obama warned financial firms on Monday to heed the lessons of Lehman Brothers' collapse a year ago and get behind a regulatory overhaul he wants Congress to pass this year.
The U.S. economy is starting to climb out of a deep hole but with a tepid recovery likely it will remain vulnerable to shocks, a top Federal Reserve policy-maker said on Monday.
Stocks rose on Monday as reports of more merger activity added to a string of recent deals, suggesting investors still see value in the market after its run-up of more than 50 percent since March.
Home Depot Inc will begin selling next year a line of home improvement and other products that feature the Martha Stewart brand, the companies said on Monday.
Yahoo Inc is selling its 1.14 percent stake in Chinese Internet marketplace Alibaba.com for about $150 million, nearly two years after the company went public.
Stocks rose on Monday as reports of more merger activity, added to a string of recent deals, suggested investors still see value in the market after its run-up of more than 50 percent since March.
A federal judge on Monday rejected Bank of America Corp's and the U.S. Securities and Exchange Commission's $33 million settlement over Merrill Lynch & Co bonuses as a contrivance that deprives shareholders of the truth.
President Barack Obama warned financial firms on Monday to heed the lessons of Lehman Brothers' collapse a year ago and get behind a regulatory overhaul he wants Congress to pass this year.
'Contrivance' Rejected; Obama's Wall St Push; Job Cuts Still Coming
The first responsibility of the U.S. Securities and Exchange Commission is to protect long-term investors if their interests conflict with short-term traders, the head of the SEC said in a letter revealed on Monday.
President Barack Obama, marking a year since Lehman Brothers collapsed, urged financial firms on Monday not to fight regulatory reform and called on Congress to pass his proposals by the end of the year.
Stocks edged higher on Monday, helped by utilities after a news report that China's sovereign wealth fund is eyeing a stake in U.S. power company AES Corp .
Eli Lilly and Co said on Monday it plans to cut 5,500 jobs, or 13.5 percent of its workforce, as it girds for generic competition by 2011 on its Zyprexa schizophrenia drug and Gemzar cancer treatment.
American Express Co announced on Monday a new line of certificates of deposit as part of the largest U.S. credit card company's plan to diversify funding sources as the financial crisis tightened lending.
Apple Inc. discontinued its 40GB Apple TV and cut the price of its 160GB model $100 to $229 on Monday. However, critics are arguing that Apple TV won't see any real success until it opens up to Web video beyond iTunes despite price cuts.
Japan's NEC Corp will take over the cellphone operations at Casio Computer Co and Hitachi Ltd as the struggling sector bands together to cut costs and survive a fast-shrinking market.
A federal judge on Monday rejected Bank of America Corp's and the U.S. Securities and Exchange Commission's proposed settlement over Merrill Lynch & Co bonuses, describing the agreement as a contrivance that harms shareholders.
Rich Americans who have evaded taxes by hiding foreign holdings have about a week to turn themselves in to an Internal Revenue Service amnesty program or gamble they will not be caught.
Rich Americans who have evaded taxes by hiding their foreign holdings have about a week to decide whether to turn themselves in to an Internal Revenue Service amnesty program or gamble that they will not be caught.
French maths and computer science graduate Edouard d'Archimbaud thought he was about to start a lucrative and challenging career in finance when he walked through the doors of Lehman Brothers' London offices a year ago. Surprised to see crowds of journalists, staff and police in front of the building as he turned up for his first day on Sept. 15, 2008, it was only once inside that d'Archimbaud rea...
U.S. stocks were little changed on Monday after the United States imposed special duties on Chinese tires, raising investors' concerns about trade friction between the two economic powers.
The dollar fell against the euro on Monday, erasing earlier gains, as investors looked past a United States versus China trade dispute and took on more risk. U.S. stocks pared losses .N, illustrating higher risk appetite and reducing safe haven demand for the dollar, as investors stuck to the theme of recent months of changes in risk tolerance driving dollar action.
President Barack Obama is at New York's Federal Hall on Wall Street today where he is addressing leaders of the financial community in a speech.
