Stephen Friedman, chairman of the New York Federal Reserve Bank's board of directors, resigned on Thursday amid questions about his purchases of stock in his former firm, Goldman Sachs.
American International Group , the insurer bailed out by the U.S. government, reported a $4.35 billion first-quarter loss on Thursday, its sixth-consecutive quarterly loss.
The Boston Globe's biggest union reached a tentative accord on Wednesday with owner New York Times Co to secure the money-losing newspaper's survival after a month of intense negotiations.
Rupert Murdoch's News Corp posted a 47 percent drop in operating income on Wednesday because of falling advertising revenue at its television stations, newspapers and other businesses.
American International Group Inc is expected to post a first-quarter net loss of about $5 billion when it reports results on Thursday, much lower than the record hit it took in the previous quarter, a source familiar with the matter said on Wednesday.
American International Group Inc is close to selling its Japanese headquarters for about $1 billion and the expected buyer is a Japanese insurance company, the Wall Street Journal reported, citing people familiar with the matter.
American International Group Inc is close to selling its Japanese headquarters for about $1 billion and the expected buyer is a Japanese insurance company, the Wall Street Journal reported, citing people familiar with the matter.
Citigroup Inc may need to generate up to $10 billion in new capital to meet the requirements of the U.S. government's stress tests, the Wall Street Journal reported on its website on Friday,
Several potential bidders are interested in buying Harbinger Capital Partners's 20 percent stake in The New York Times Co, The Wall Street Journal reported on Saturday.
The New York Times Co will remain publicly traded, build its online business and cut costs despite brutal conditions that threaten the survival of newspapers, Chairman Arthur Sulzberger Jr said at the publisher's annual meeting on Thursday.
The Dow and S&P fell on Wednesday after Morgan Stanley revived concerns about the banking sector and the wider economy after it posted its second straight quarterly loss and slashed its dividend.
Bank of New York Mellon Corp and Northern Trust Corp , two large U.S. custodial banks, reported disappointing profit as declines in client assets depressed fees, while State Street Corp topped forecasts.
Citigroup Inc Chief Executive Vikram Pandit said he expects the No. 3 U.S. bank to rebound from its current woes and pledged that it would repay every dollar it owes to the U.S. government.
Citigroup Inc Chief Executive Vikram Pandit said he expects the No. 3 U.S. bank to rebound from its current woes and pledged that it would repay ever dollar it owes to the U.S. government.
Bank of New York Mellon Corp said first-quarter profit fell by more than half as fees tumbled, and the bank slashed its dividend 63 percent in an effort to build capital.
Stocks rose on Friday, with the Dow scoring its biggest six-week gain since July 1938, helped by a reassuring report on the mood of consumers and stabilization in General Electric and Citigroup's quarterly results.
Stocks rose on Friday, capping the S&P 500's longest weekly winning streak since 2007, helped by a reassuring report on the mood of consumers and stabilization in General Electric and Citigroup's quarterly results.
Stocks rose on Friday, putting the benchmark S&P 500 on course for a sixth straight weekly gain, as an upbeat consumer survey added to hopes of economic stabilization and investors bet on strong results ahead following reports of General Electric and Citigroup.
Stocks fell on Friday as investors paused to reassess the sustainability of the recent spate of upbeat profits and whether or not the banks have turned a corner, following mixed results from Citigroup .
Stocks fell on Friday as investors paused to reassess the sustainability of the recent spate of upbeat profits and whether or not the banks have turned a corner, following mixed results from Citigroup .
The rebuilding of New York's World Trade Center site may take up to three decades to complete because the demand for office space has shrunk with Wall Street's falling fortunes.
One of the nation’s largest public pension funds says it is looking to buy assets which are a part of the U.S. government’s $700 billion program to help banks sell off the illiquid investments.
