Federal Reserve Bank of Boston President Eric Rosengren said Thursday that “rather slow recovery is likely” for the economy.
The Federal Reserve's myriad emergency programs for the U.S. economy threaten the central bank's independence, raising the risk of future inflation, Philadelphia Federal Reserve President Charles Plosser said on Thursday.
U.S. Treasury Secretary Timothy Geithner said Thursday that the Obama administration and Congress will be working together to reduce the nation’s deficits once the recovery is underway.
U.S. bank regulators seized troubled Florida lender BankUnited FSB and sold it to some of the most powerful private equity firms in the world.
Japan's Nikkei stock average edged down 0.1 percent on Friday, with Canon Inc and other exporters hit by a stronger yen but defensive shares holding their own amid a sense the overall trend remains unchanged.
The co-chief investment officer of Pacific Investment Management Co. said on Thursday that the United States may eventually lose its ‘AAA’ credit rating.
Japan's Nikkei stock average fell 1.2 percent on Friday, with Canon Inc and other exporters hit by a stronger yen as worries about U.S. debt levels grew after a credit agency warned Britain's rating could be cut.
The U.S. Treasury Department said on Thursday it has put another $7.5 billion into auto lender GMAC to enable it to support both Chrysler LLC , and General Motors Corp Corp car buyers and partly meet a shortage of capital.
American International Group Inc said on Thursday that Chief Executive Edward Liddy plans to step down, signaling the end to a short and tumultuous tenure running the government-rescued insurer.
The Treasury Department is set to give GMAC LLC at least $7 billion in aid allowing it to expand lending to customers.
Data on Thursday underscored that the U.S. economic recovery, when it arrives, will be a long slog, with a key factory index showing only marginally less weakness and unemployment tipped to hit double-digit levels.
Shares of OpenTable Inc closed their first trading session up 59 percent on Thursday following the restaurant reservation company's initial public offering, in the best first day performance for a U.S. company in over 18 months.
Troubled Florida thrift BankUnited was on Thursday seized by federal regulators handing control over to a private equity group led by John Kanas and WL Ross & Co.
Stocks slid in a broad sell-off on Thursday as investors, concerned about the U.S. budget deficit, exited dollar-denominated assets across the board.
American International Group Inc said on Thursday that Edward Liddy, its chief executive, plans to step down, signaling the end to a short and tumultuous tenure running the bailed-out insurer.
OpenTable Inc shares jumped 72 percent in their trading debut Thursday following the restaurant reservation company's initial public offering, putting it on pace for the biggest first day performance for a U.S. company in more than a year.
High-level bank regulators were aware that thrifts were inappropriately backdating capital contributions, allowing the institutions to appear healthier, and in one case directed a thrift to engage in the practice, according to a government watchdog report released Thursday.
The rating of the United States remains AAA and stable, a spokesman for Moody's Investors Service said on Thursday.
American International Group Inc. announced today that chairman and chief executive officer, Edward M. Liddy, plans to step down when a search for replacements is complete for these two positions which will be split.
Stocks slid in a broad sell-off on Thursday as investors, concerned about the U.S. budget deficit, exited dollar-denominated assets across the board.
American International Group Inc said on Thursday that its Chief Executive and Chairman Edward Liddy would step down as soon as a successor is found to take over running the bailed out insurer.
Stocks fell on Thursday as investors worried the economic recovery won't be as quick as previously thought, while a cut of Britain's credit rating outlook heightened worries about the U.S. fiscal condition.
Standard & Poor's on Thursday cut its rating on the New York Times Co deeper into junk status, citing rising leverage in the midst of a newspaper industry slump.
Bill Gross, the co-chief investment officer of bond giant Pacific Investment Management Co., said market fears that the U.S. is at risk of losing its AAA credit rating is sending the U.S. dollar, stocks and bonds under severe selling pressure on Thursday.
Stocks slid in a broad sell-off on Thursday as a disappointing report on the labor market quashed hopes the economy was on the verge of recovery.
High-level bank regulators were aware of and in some cases even directed thrifts to inappropriately backdate capital contributions, according to a report released on Thursday by the U.S. Treasury Department watchdog.
The Obama administration is mulling a new agency to better protect consumers who buy financial products or take out mortgages from practices like those that led to the current financial crisis, U.S. Treasury Secretary Timothy Geithner said on Thursday.
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Wall Street securities firms will emerge from the current recession in a down-sized mode, with few of the jobs cut replaced by 2013, even as the industry returns to profitability next year, a New York City fiscal monitor said in a gloomy report released on Wednesday.
