Emerging Markets Hold Breath as E.U. Banks Shrink
From Beijing to Bucharest, emerging market policymakers are as worried as those in Brussels that the rapid contraction in western European banks' balance sheets will compound the debt crisis and further delay economic recovery.
Big Isn't Bad, U.S. Banks Tell Fed
The largest U.S. banks are accusing the Federal Reserve of attempting to misuse its new regulatory powers to shrink financial giants under the misguided belief that "big is bad."
Protesters Picket Wells Fargo Meeting, 24 Arrested
Police in riot gear arrested two dozen people on Tuesday as protesters with a huge inflated rat sought to disrupt a Wells Fargo annual shareholder meeting to express anger over foreclosures, executive compensation and corporate taxes.
Bankers Should Do the Right Thing: Regulator
Bankers should "do the right thing" in salaries and service to clients and not be driven purely by the size of their pay packets, top UK regulator Hector Sants said on Tuesday in his last speech before standing down.
BofA $20 Million Settlement Called Inadequate
Bank of America Corp directors, who were sued by shareholders for allegedly paying too much for Merrill Lynch & Co in 2008, must defend a proposed $20 million
settlement of the claims in federal court in New York, court papers show.
Infosys Being Investigated by U.S. Homeland Security Dept.
Infosys, India's Number two software services exporter, is under scrutiny from the U.S. Department of Homeland Security for likely errors in employer eligibility documents of its staff working in the United States, the company said in a statement.
Greek Banks to Show Pain of Bond Swap, Bad Loans
Greek banks will post big
losses for 2011 on Friday, as they will include the writedown on
government bonds suffered during last month's bailout deal for
the country as well as provisions for higher bad loans due to a
Spain Banks' Bad Loans Highest Since 1994
Spanish banks' bad loans rose to their highest level since Oct. 1994 in February, to 8.2 percent of their credit portfolios, Bank of Spain data showed on Wednesday, as the sector continues to battle sliding house prices and a looming recession.
Jury Selection Starts in Oracle Vs. Google Trial
Jury selection in a high-stakes dispute over smartphone technology kicked off on Monday morning, in which Oracle Corp accuses Google Inc's Android operating system of violating Oracle's patent and copyright for the Java programming language.
Spain Pushes Banks to Pay For Sector Clean-Up
Spain needs at least 20 billion euros ($26.35 billion) to secure the sale of three bailed-out banks and wants the rest of its hard-pressed banking sector to provide the cash in order to avoid putting more taxpayer money into the industry.
Federal Judge Approves $25 Billion Mortgage Pact
A federal judge approved a $25 billion mortgage settlement with five top U.S. banks over allegations of foreclosure abuses and misconduct in servicing home loans, according to court documents.
Citigroup Hit by U.S. Regulator on Bank Secrecy
Citigroup Inc has agreed to take steps to clean up its compliance with bank secrecy and money laundering laws as part of an agreement with the Office of the Comptroller of the Currency (OCC), the OCC announced on Thursday.
JPMorgan to Pay $20 Million to Settle Lehman Case
The Commodity Futures Trading Commission said on Wednesday that JPMorgan Chase will pay $20 million to settle charges that it unlawfully handled customer segregated funds at Lehman Brothers Holdings Inc.