The fiscal downturn has hit Wall Street executives where it hurts most --their wallets -- and locales dependent upon their income rank as collateral damage.
Bank of America, one of five banks in $25 billion settlement with the government over foreclosure practices, has struck a side deal that will allow it to reduce penalties in return for bigger cuts to borrowers' mortgage balances, the Wall Street Journal said.
Citigroup Inc. Chief Executive Vikram Pandit received a total compensation of $14.9 million for 2011, which includes salary, cash bonus and deferred stock.
Citigroup Chief Executive Vikram Pandit finally got his payday. The third biggest U.S. bank company paid Pandit $14.86 million in 2011, compared with a salary of $1 and no bonus in 2010, according to a filing with the Securities and Exchange Committee.
AT&T Inc. is seeking to sell a stake in Yellow Pages in an approximately $1.5 billion deal with private equity firm Cerberus Capital Management LP, Bloomberg reported.
The European Central Bank held interest rates at 1.0 percent for the third month running on Thursday, pausing to assess the impact of a dramatic sweep of measures that has unsettled some at the bank.
Facebook Inc added 25 banks to help underwrite the company's initial public offering, meaning most of Wall Street will have a role in the share sale, according to an amended IPO filing on Wednesday.
Facebook Inc. has named 25 underwriters and received multi-billion dollar package of financing, according to an amendment to its S-1 filing with the U.S. Securities and Exchange Commission.
The Treasury Department plans to sell $6 billion of American International Group stock and struck another deal for the insurer to pay down $8.5 billion more in obligations, taking a major step forward in an election year to unwind the unpopular crisis-era bailout.
PayPal, the online payments arm of eBay Inc, has sparked a furor in the publishing world by asking some e-book distributors to ban books that contain obscene themes including rape, bestiality or incest.
Now that IBM’s (NYSE: IBM) Watson supercomputer has gone to the doctor, it’s going to Wall Street.
The U.S. government will cut fees on federally insured mortgages and move to expand home-loan relief to military veterans, President Barack Obama announced Tuesday.
Lehman Brothers Holdings Inc's record $639 billion bankruptcy ended on Tuesday, clearing the way for it to start distributing about $65 billion to creditors starting on April 17, court documents show.
Gold fell 2 percent in heavy volume on Tuesday after breaching a key support, as renewed concerns about Greece's debt triggered economic fears, while some analysts say the metal looks oversold and poised for a rebound.
Gold prices fell more than 1 percent in Europe on Tuesday, pushing through support at $1,690 an ounce, as jitters over whether private creditors will agree to a Greek bond swap deal and wider euro zone growth pressured the euro versus the dollar.
Shares of Yelp (NYSE: YELP) the San Francisco-based review Web site, plunged nearly 15 percent Monday, the first after their $107 million initial public offering.
A significant but largely unnoticed shift is underway in how big U.S. companies account for pensions on their books. The move to mark-to-market accounting could signal that corporate America is betting on rock-bottom interest rates and continued economic recovery through 2012 and into next year.
American International Group is selling part of its stake in AIA Group to raise about $6 billion to help the U.S. insurer repay a huge federal government bail-out.
Facebook Inc, the social networking firm, has hired more banks to work as underwriters for its initial public offering, according to a report.
Facebook Inc will add banks in coming weeks to help underwrite its initial public offering, two sources familiar with its plans said on Friday.
Citigroup Inc. announced Friday that Richard Parsons would quit as chairman of the firm at its annual meeting in April and Michael O'Neill, the former chief executive of Bank of Hawaii Corp, would succeed him.
Richard Parsons will step down as chairman of Citigroup Inc. at its annual meeting in April and be succeeded by Michael O'Neill, the former CEO of the Bank of Hawaii Corp., Citigroup said on Friday.
