John P. McMurray made it clear to his Countrywide Financial Corp bosses that they were playing a dangerous game with risk. But they didn't listen.
Citigroup Inc's relationship with the Federal Deposit Insurance Corp is frayed, sources told Reuters, and the regulator wants to replace Chief Executive Vikram Pandit, the Wall Street Journal reported.
U.S. stocks flip-flopped throughout Friday's session, with the major indexes ending split as investors paused to consider conflicting signals in monthly U.S. jobs data.
(Corrects to show Citigroup's exit from Dow occurs on Monday at start of trading and not after bell)
U.S. stocks flip-flopped throughout Friday's session, with the major indexes ending split as investors paused to consider conflicting signals in monthly U.S. jobs data.
The pace of U.S. job losses slowed sharply last month, the strongest sign to date that the recession is diminishing, even as the unemployment rate hit its highest in nearly 26 years.
U.S. employers last month cut the fewest jobs since September and international policy-makers said the worst of the downturn may be over as more positive corporate news popped up around the globe.
John P. McMurray made it clear to his Countrywide Financial Corp bosses that they were playing a dangerous game with risk. But they didn't listen.
Vice President Joe Biden said Friday the White House plans to ramp up the pace of its economic recovery efforts following the announcement of 25-year-high unemployment rate.
Lawyers for Allen Stanford, the Texas financier charged with an $8.5 billion fraud by U.S. regulators, on Friday characterized a $20 million fee request by the case's receiver as exorbitant, according to a court filing.
Bank of America Corp. announced Friday afternoon the election of four new directors aiming to address Regulators’ concerns that that board lacks financial expertise.
The pace of U.S. job losses slowed sharply last month, the strongest sign to date that the recession is diminishing, even as the unemployment rate hit its highest in nearly 26 years.
The Dow industrials ended slightly higher on Friday while the S&P 500 and the Nasdaq dipped as investors paused to consider conflicting signals in monthly U.S. jobs data. Investors also sold some recent winners to take some profits from the spring rally.
The Federal Deposit Insurance Fund Corp. is looking to shake up Citigroup’s top management, the Wall Street Journal reported today.
White House economic adviser Christina Romer on Friday said payrolls data was consistent with a trend of moderating job losses, but the unemployment rate would stay high for a while.
Global stocks edged higher and the U.S. dollar gained against the euro and yen on Friday after the pace of U.S. job losses slowed sharply in May, adding to growing sentiment that the economic slowdown may be turning.
U.S. stocks were little changed on Friday as investors fretted about government data that gave conflicting signals about the job market, tempering some of the recent optimism about economic stabilization.
The U.S. Federal Reserve has privately expressed concerns over new accounting rules that could force banks to move more assets onto their books, a person familiar with the Fed's thinking said on Friday.
Citigroup Inc's relationship with the Federal Deposit Insurance Corp is frayed, sources told Reuters, and the regulator wants to replace Chief Executive Vikram Pandit, the Wall Street Journal reported.
The Dow industrials climbed on Friday after Wal-Mart unveiled plans for a stock buyback, while the broad market's gains were muted after government data showed employers cut sharply fewer jobs than expected in May and the jobless rate hit a 26-year high.
Oil slipped back after touching a seven-month high over $70 per barrel on Friday as U.S. employment data showed a slower pace of job losses.
U.S. employers cut 345,000 jobs last month, the fewest since September and far less than forecast, according to a government report on Friday that was the most definitive evidence the economy's severe weakness was diminishing.
World stocks extended gains on Friday, rising toward this week's 7-1/2 month high after better-than-expected U.S. employment data reinforced investors' hopes that the world's biggest economy has passed its worst.
U.S. stocks rose in choppy trading on Friday as investors grappled with conflicting monthly jobs data, with the Dow industrials boosted after Wal-Mart said it was buying back more of its shares.
Nonfarm employment fell 345,000 with smaller declines in many sectors. Smaller job losses are consistent with our expectations for growth in the second half of this year. Aggregate hours declined again reaffirming negative economic growth forecasts for the second quarter. Unemployment rates indicate more household credit stress.
India’s Kaspersky Lab on Thursday said its 2009 all-in one Kaspersky Internet Security is now available for download and purchase.
World stocks and oil prices extended gains and government bonds tumbled on Friday after closely-watched data showed the U.S. economy lost a fewer-than-expected 345,000 jobs in May.
U.S. employers cut 345,000 jobs last month, the fewest since September and far less than forecast, according to a government report on Friday that was more evidence the economy's severe weakness was diminishing.
World stocks rose toward this week's 7-1/2 month high on Friday as resource stocks rallied after oil prices surged past $69 a barrel and optimism grew about an improving U.S. labor market ahead of key jobs data.
U.S. non-farm payroll jobs likely fell by their smallest amount in seven months in May, pointing to a slackening of the recession, but the unemployment
