Jean-Claude Trichet scotched speculation on Thursday that the European Central Bank may delay interest rate rises because of Greece's plight and the contagion threat it poses, saying the bank was in strong vigilance mode.
Lloyds is to cut 15,000 jobs and halve its international presence under a radical overhaul by its new chief executive aimed at returning the part-nationalized British bank back to health.
The United States would immediately have its top-notch credit rating slashed to selective default if it misses a debt payment on August 4, Standard & Poor's managing director John Chambers told Reuters.
Lloyds unveiled plans to cut 15,000 jobs, reduce costs and sell assets in a strategy review aimed at boosting the fortunes of the bank which had to be part-nationalized during the credit crisis.
Moody's on Wednesday warned it may downgrade some Aaa-rated U.S. states and municipalities if the country loses its top-notch rating or if federal funding falls significantly as part of a plan to reduce the nation's deficit.
Hedge fund Paulson & Co. has more time to increase the payout on a group of U.S. luxury resort hotels it owns after bankruptcy court gave it an extension on Wednesday.
Three Chinese banks are now in the world's top 10, underlining the dramatic growth of the country's financial industry in recent years, according to a new study released on Thursday.
Asia's fast-rising economies set their sights on securing key IMF posts under new chief Christine Lagarde, hopeful she would be the one to make good on oft-heard pledges to give more power to emerging markets.
Bank of America Corp said it expects to take more than $20 billion of charges after settling with mortgage bond investors, resulting in a second-quarter loss.
One of Silicon Valley's most powerful venture-capital firms, Andreessen Horowitz, is adding former Treasury Secretary Larry Summers to its team.
Bank of America Corp's $8.5 billion settlement to clear up its mortgage bond mess isn't a done deal and could be challenged -- if the large number of investors locked out of negotiations decide to organize.
Carver Bancorp Inc
raised $55 million in new equity capital from institutional investors, including Goldman Sachs , Morgan Stanley , Citigroup Inc and American Express , helping boost the bank's capital levels to meet regulatory requirements.The London Stock Exchange's C$3.6 billion ($3.7 billion) plan to buy its Toronto counterpart collapsed on Wednesday in the face of a competing bid led by Canadian banks, leaving the UK exchange itself vulnerable to takeover.
Goldman Sachs Group Inc plans to lay off 230 employees in New York because of economic conditions, according to a state filing on Wednesday.
Wall Street closed its best three-day run in three months on Wednesday after the Greek parliament approved austerity measures to avoid defaulting on its debt.
Wall Street rose on Wednesday after the Greek parliament approved austerity measures to avoid defaulting on its debt, but stocks were off their highs on profit taking after hefty gains this week.
Wall Street closed its best three-day run in the past three months on Wednesday after the Greek parliament approved austerity measures to avoid defaulting on its debt.
Wall Street closed its best three-day run in the past three months on Wednesday after the Greek parliament approved austerity measures to avoid defaulting on its debt.
JPMorgan Chase & Co promoted Jeff Urwin, a former Bear Stearns & Co banker who became co-head of its North American investment banking business, to a new role heading global investment banking industry groups, capital markets and mergers and acquisitions.
Raymond James Financial Inc agreed to buy back $300 million of auction-rate securities and pay a $1.75 million fine to settle federal and state probes accusing the brokerage, one of the nation's largest, of misleading customers about the debt's safety.
The London and Toronto stock exchanges abandoned plans for a C$3.6 billion ($3.7 billion) tie-up on Wednesday, leaving both in play in a world already facing a wave of exchange consolidation.
The International Monetary Fund on Wednesday pressed U.S. lawmakers to quickly lift the government's borrowing limit to avoid a severe shock to global markets and a still-fragile economic recovery.
Politicians and bankers are confident a French proposal for a Greek bailout can be adopted without triggering a default or a payout in credit insurance, lifting a key hurdle to a rollover of Greek debt, sources told Reuters.
Pending sales of existing homes rebounded from a seven-month low in May but demand for mortgages sank last week and the market is still struggling under the weight of a glut of unsold properties.
A Canadian consortium believes it has enough support to stymie the London Stock Exchange's takeover bid for TMX Group , Canada's largest stock market operator, at a shareholder vote on Thursday, a source with the 13-member consortium said.
Citigroup has struck a deal with the European arm of collapsed investment bank Lehman Brothers to release over $2.5 billion worth of assets held in its custody business.
Pending sales of previously owned U.S. homes rose more than expected in May, a trade group said on Wednesday, but a glut of unsold properties remains a drag on the housing market.
Failure by U.S. lawmakers to agree soon on a deal to raise the government's borrowing limit could deliver a severe shock to a still fragile recovery and global markets, the International Monetary Fund warned on Wednesday.
A federal judge on Wednesday approved a $153.6 million settlement between JPMorgan Chase & Co and the top U.S. market regulator over allegations a mortgage CDO product defrauded the bank's investors at the time of the housing market collapse.
The London and Toronto stock exchanges abandoned plans for a C$3.6 billion merger on Wednesday, as it became clear they would not win enough shareholder support for their transatlantic alliance.
