The New York state's financial regulator is probing several large banks, including Bank of America Corp and Citigroup Inc, on whether they overcharged customers on force-place insurance, a source familiar with the matter said.
Jacob Lew, a former Citigroup executive, reportedly received a $900,000 bonus from the company after it took $45 billion in taxpayer bailout funds in 2008.
Bank of America Merril Lynch's (NYSE:BAC) move to fire one-fifth of the managing directors in its Asia operations, while significant, is only the latest sign foreign banks are jumping ship on investment banking opportunities within that market.
As the government nears a deal with top banks to resolve mortgage abuses, the Justice Department has begun reaching out to other banks to gauge their interest in joining the wide-ranging settlement, according to a person familiar with the matter.
As the U.S. government nears a deal with top banks to resolve mortgage abuses, the Justice Department has begun reaching out to other banks to gauge their interest in joining the wide-ranging settlement, according to a person familiar with the matter.
Apple Inc CEO Tim Cook took in almost $1 million of cash compensation in 2011 but also received a million restricted shares that, when they vest in 2016 and 2021, could net the head of the world's largest consumer electronics firm hundreds of millions of dollars.
The top pre-market NASDAQ stock market gainers are: Idenix Pharmaceuticals, Achillion Pharmaceuticals, VIVUS, MAKO Surgical, Questcor Pharmaceuticals, Research In Motion and Apple. The top pre-market NASDAQ stock market losers are: IPC The Hospitalist Company, Pacira Pharmaceuticals, Akamai Technologies, Logitech International and Costco Wholesale.
German exports bounced back in November boosting the country's trade surplus, a sign that Europe's largest economy may avoid a sharp slowdown in contrast to France which is expected to have run up a record trade deficit in 2011.
Defendant companies that are convicted in criminal cases or plea to charges will no longer be able to make deals with the Securities and Exchange Commission without admitting or denying allegations.
The top after-market NASDAQ Stock Market gainers are: ViroPharma, WebMD Health, Jazz Pharmaceuticals, Oritani Financial, and Momenta Pharmaceuticals. The top after-market NASDAQ Stock Market losers are: RF Micro Devices, Vical, Integra LifeSciences Holdings, Morgans Hotel Group, and Zoltek Companies.
Grooveshark has been sued by the large record company EMI Group Ltd, which accused the popular digital music service of paying no royalties since entering a licensing agreement to stream music nearly three years ago.
Bank of America Corp shares surged more than 7 percent on Thursday, outpacing other U.S. banks on a day of positive job news.
The number of planned job cuts at U.S. firms declined in December to the lowest level since June, but up from the same time a year ago, a report on Thursday showed.
The top aftermarket NYSE losers Tuesday were: Endeavor International, Parker Drilling, Ventas, Office Depot, iSoftStone Holdings, Demand Media, Noranda Aluminum Holding and Xueda Education Group.
This Tuesday, Citi launched a Facebook application that allows its customers to team up in order to use their points for charity, a group gift or personal goal. The Citi Facebook app builds on the function that Citi released last year that allows customers to transfer there points to others via the bank's homepage.
Standard & Poor’s has cut the rating on $695.4 million on bonds issued to built Citi Field for the New York Mets to negative, or BB+, one level below investment grade.
The U.S. Securities and Exchange Commission got a fresh dressing-down from the judge who rejected its $285 million settlement with Citigroup Inc, as he said the regulator kept him out of the loop on its efforts to salvage the case.
U.S. stocks fell more than 1 percent on Wednesday after a hefty year-end rally and the S&P 500 erased gains for the year on renewed concerns about the euro zone's financial health.
U.S. stocks fell more than 1 percent on Wednesday after a hefty year-end rally and the S&P 500 erased gains for the year on renewed concerns about the euro zone's financial health.
Stock index futures edged higher on Wednesday in what looks to be another low-volume session, with investors waiting for the start of 2012 before betting on risky assets.
Stock index futures edged higher on Wednesday in what looks to be another low-volume session, with investors waiting for the start of 2012 before betting on risky assets.
The Securities and Exchange Commission won a delay in its securities fraud lawsuit against Citigroup Inc, as the regulator tries to appeal a judge's decision to reject its $285 million settlement with the bank.
