Quick sales of companies are replacing traditional, lengthy U.S. bankruptcy reorganizations, and a lack of affordable credit and a recent appeals court opinion is expected to intensify the trend.
Citigroup Inc says two of its traders are exempt from a government review of the bank's top executive pay packages, The New York Times reported on Saturday.
A group of Asian manufacturers filed court papers on Friday in an attempt to push U.S. women's apparel brand Ellen Tracy into bankruptcy.
A massive rally in U.S. stocks since March has reawakened bullish spirits, but insiders are jumping out of the market in a sign the run up is getting stretched.
Colonial Bank, of Montgomery Ala., was shuttered on Friday and its assets sold to southeast regional bank BB&T Corp, marking the largest bank failure this year.
The Legg Mason Inc unit run by star fund manager Bill Miller sold off a number of financial stocks in the second quarter, filings on Friday showed.
Billionaire Warren Buffett's Berkshire Hathaway Inc reported on Friday a new 1.2 million share investment in Becton Dickinson & Co and an increased stake in Johnson & Johnson , as it boosted exposure to some health-care companies.
Billionaire investor and philanthropist George Soros' Soros Fund Management reported holdings of $4.2 billion at the end of the second quarter after cutting its stake in a number of retailers.
The U.S. official responsible for setting pay for top executives at finance firms that received billions of dollars in government aid will take his time and conduct his work in private, a spokesman said on Friday.
The Federal Deposit Insurance Corp said in a statement on Friday that regulators have closed Colonial Bank and Southeast regional bank BB&T will buy about $22 billion in assets of Colonial.
Latin American stocks and currencies posted losses on Friday after U.S. consumer sentiment weakened unexpectedly in August, raising questions about the strength of the economic recovery and increasing global aversion to risk.
Wall Street's top cop has a lot to prove and its been taking no prisoners.
BB&T Corp. and the Federal Deposit Insurance Corp. have reached an agreement to take over Colonial BancGroup in Alabama the Wall Street Journal and Bloomberg reported citing anonymous sources. Colonial is Alabama's second-largest bank with $26.4 billion in assets and 355 branches in Florida, Alabama, Georgia, Nevada and Texas. The takeover would make BB&T the ninth-biggest U.S. bank by assets.
Blackstone's chief executive officer, Stephen Schwarzman, tops the list of top 10 highest-paid executives in the U.S. last year with a staggering package of $702 million according to reports from the Corporate Library.
A landmark settlement that will spare UBS a lengthy and damaging U.S. tax trial is set to be signed next week and will involve the disclosure of the biggest holders of secret Swiss accounts.
U.S. consumers' gloom deepened in early August as worry about scarce jobs and falling income overshadowed positive news that industrial output in July grew for the first time in nine months.
U.S. stocks fell broadly on Friday, as the major indexes snapped a four-week streak of gains after weak consumer sentiment data fueled concerns about the strength of an economic recovery.
BB&T Corp. and the Federal Deposit Insurance Corp. have reached an agreement to take over Colonial BancGroup in Alabama the Wall Street Journal and Bloomberg reported citing anonymous sources.
U.S. Southeast regional bank BB&T Corp will buy deposits and branches of Colonial BancGroup Inc following a move by regulators to take the struggling lender into receivership, media reports said, citing people familiar with the matter.
A former Credit Suisse Group AG broker used bait-and-switch tactics in fraudulently steering corporate clients into risky mortgage investments they did not want, federal prosecutors said on Friday.
The Obama administration is proposing to fund the enhanced policing of financial firms by levying fees on the largest banks, while sparing community banks from increased costs, a Treasury official said on Friday.
U.S. stocks fell broadly on Friday, with major indexes dropping more than 1 percent as weak consumer sentiment data fueled concerns about the strength of an economic recovery.
The Federal Deposit Insurance Corp is taking Colonial BancGroup Inc into receivership and will sell the struggling lender's branches and deposits to BB&T Corp , Dow Jones said, citing a person familiar with the situation.
Boeing Co said on Friday an Italian supplier stopped production in June on two sections of its long-delayed 787 Dreamliner after structural flaws were found on fuselages.
The Federal Deposit Insurance Corp is taking Colonial BancGroup Inc into receivership and will sell the struggling lender's branches and deposits to BB&T Corp , Dow Jones said, citing a person familiar with the situation.
Activist investor Carl Icahn is under fire from a hedge fund that accuses the billionaire investor of enriching himself at the expense of minority shareholders in XO Holdings Inc , a company he controls.
U.S. consumer confidence fell in early August as a growing number of Americans fretted about their finances even though they expected the broader economy to improve, a survey showed on Friday.
A federal court on Thursday froze $1 billion of Colonial Bank's assets after a judge ruled in favor of Bank of America which had requested a temporary restraining order to keep Colonial from liquidating or transferring assets. According the federal judge the bank is on the verge of failure. Individual depositors are protected through the Federal Deposit Insurance Corp.
U.S. consumer confidence fell in early August as a growing number of Americans fretted about their finances even though they expected the broader economy to improve, a survey showed on Friday.
U.S. stocks fell more than 1 percent on Friday as investors retreated from a recent rally after data showing weak consumer sentiment fueled doubts about an economic recovery.
