The Obama administration's proposed financial regulatory revamp could upend Wall Street brokerages by compelling brokers to put their clients' interests ahead of their own, The Wall Street Journal said on Friday
NEW YORK, June 17 Reuters) - Ten of the largest U.S. banks said on Wednesday they repaid more than $68 billion of taxpayer bailout funds, as they race to extract themselves from government restrictions on pay for top executives.
(Corrects number of banks in first bullet point, corrects index closing level in third bullet point, updates total repayment figure to $68 bln in bullet point and paragraph 1)
The U.S. banking industry played down the Obama administration's proposals on Monday for the most wrenching regulatory changes since the Great Depression as just that -- proposals.
Investment bank Nomura Holdings and insurer T&D Holdings are among the firms in the second round of bidding for Citigroup's asset management arm in Japan in a deal likely to exceed $1 billion, five sources familiar with the matter said.
Citigroup Inc's chairman said on Monday the bank may find it harder to retain and attract top employees while the bank is holding on to federal bailout money.
Citigroup Inc and the private sector arm of the World Bank have struck a deal to offer a $1.25 billion funding facility intended to stimulate emerging markets trade over three years.
Citigroup Inc and the private sector arm of the World Bank have struck a deal to offer a $1.25 billion funding facility intended to stimulate emerging markets trade over three years.
Hartford Financial Services Group Inc said it will take as much as $3.4 billion of federal bailout money and sell up to $750 million of common stock to bolster capital after large losses on investments.
Hartford Financial Services Group Inc said it will take as much as $3.4 billion of federal bailout money and sell up to $750 million of common stock to bolster capital after large losses on investments.
Bond giant Pacific Investment Management Co, billionaire Gerald J. Ford and a unit of money manager Legg Mason Inc are eyeing ways to buy up banks' toxic loans, the New York Post said.
The Obama administration on Wednesday named Kenneth Feinberg, the lawyer who oversaw the government's compensation fund for victims of the September 11, 2001, attacks, as its pay czar to police compensation of top earners at companies receiving exceptional government aid.
U.S. Treasury Secretary Timothy Geithner said on Wednesday the Obama administration wants Congress to pass new laws giving securities regulators power to force companies to let shareholders have more say in setting executive pay levels.
The brutal pace of job losses on Wall Street may be slowing, but experts remain cautious about whether this means a quick turnaround is on the way.
Citigroup Corp. announced a finalized deal with the U.S. government on Wednesday that could add up to $58 billion in common equity to the company, with chief executive Vikram Pandit saying the move would make the bank among the best capitalized in the world.
The Obama administration will unveil executive pay rules for firms receiving government aid by the end of the week and will name a pay czar with power to reject compensation plans at firms getting exceptional assistance, an administration official said late on Tuesday.
JPMorgan, Goldman Sachs and eight other top U.S. banks won clearance on Tuesday to repay $68 billion in taxpayer money given to them during the credit crisis, a step that may help them escape government curbs on executive pay.
U.S. auto suppliers, who negotiated federal loans earlier this year, plan to ask the Obama administration's auto task force this week for $8-$10 billion in loan guarantees, Bloomberg reported on Tuesday.
U.S. auto suppliers, who negotiated federal loans earlier this year, plan to ask the Obama administration's auto task force this week for $8-$10 billion in loan guarantees, Bloomberg reported on Tuesday.
Home Depot's stock price looks like a bargain as the home improvement has slowed expansion and tried to improve customer service under Chief Executive Frank Blake, according to the latest issue of Barron's.
Home Depot's stock price looks like a bargain as the home improvement has slowed expansion and tried to improve customer service under Chief Executive Frank Blake, according to the latest issue of Barron's.
Citigroup Inc's relationship with the Federal Deposit Insurance Corp is frayed, sources told Reuters, and the regulator wants to replace Chief Executive Vikram Pandit, the Wall Street Journal reported.
