Dutch ING plans to sell operations worth up to 8 billion euros ($10.6 billion) to reduce risk, focus its bank on Europe, and manage its banking and insurance separately, boosting its shares on Thursday.
Wells Fargo said the asset management unit Evergreen Investments which it inherited when it bought Wachovia Corp was not for sale, even as it scales back Wachovia's investment banking operation, the NY Post reported citing sources.
Stock index futures pointed to a higher open on Thursday after Wells Fargo gave preliminary first-quarter results that were stronger than expected.
Wells Fargo said the asset management unit Evergreen Investments which it inherited when it bought Wachovia Corp was not for sale, even as it scales back Wachovia's investment banking operation, the NY Post reported citing sources.
Wells Fargo said the asset management unit Evergreen Investments which it inherited when it bought Wachovia Corp was not for sale, even as it scales back Wachovia's investment banking operation, the NY Post reported citing sources.
Morgan Stanley's bottom line will be hurt by the recent rebound in its bond prices, the Wall Street Journal said.
Bank of America, the U.S Largest Bank, may need a big capital boost in equity to bolster its capital ratios, analysts at Oppenheimer & Co said Wednesday, according to Bloomberg.
A banking analyst at Oppenheimer & Co said that when big banks proclaim that they are performing well, they better be right.
Banks and cellphone companies have a long way to go to persuade U.S. consumers to use their cellphones for banking, as many worry about security and extra fees and others are not even aware they can.
Banks and cell phone companies have a long way to go to persuade U.S. consumers to use their cell phones for banking, as many worry about security and extra fees and others are not even aware they can.
U.S. banks' first-quarter results will show that losses from credit cards and commercial and real estate loans have not yet peaked, and perhaps dash hopes that the worst of the banking crisis has passed.
U.S. banks' first-quarter results will show that losses from credit cards and commercial and real estate loans have not yet peaked, and perhaps dash hopes that the worst of the banking crisis has passed.
Pulte Homes , the fourth-largest U.S. homebuilder, said it would buy the third largest, Centex Corp , for $1.3 billion in stock as it looks to save costs and get through the housing downturn.
Stock futures pointed to a lower open on Tuesday on fresh worries over the amount of toxic assets on bank balance sheets and investors braced for what is expected to be another dismal earnings season.
Stock futures pointed to a lower open on Tuesday after it was reported the International Monetary Fund was set to forecast toxic assets on the balance sheets of financial sheets could reach $4 trillion.
U.S. stock index futures pointed to a lower open on Wall Street on Tuesday as investors braced for aluminum producer Alcoa's quarterly results that will kick-start a keenly awaited U.S. earnings season.
Shares of Bank of America, Citigroup, Wells Fargo declines
Shares of the largest banks in United States tumbled on Wall Street after Calyon analyst Mike Mayo downgraded the stocks with an underperform rating.
Citigroup is pressing on with its corporate revamp to make the most of its non-core non-bank businesses, announcing that the interim leader for its Citi Holdings unit will stay on.
Citigroup Inc named Michael Corbat permanent chief executive of Citi Holdings, a unit housing the Smith Barney brokerage and a variety of businesses and riskier assets that may be shed.
Stocks slid further on Monday as concerns about the health of banking system diminished appetite for riskier assets and as billionaire investor George Soros said the banking system was basically insolvent.
HSBC investors jumped at the chance to put more money into the UK-based bank, buying most of the 5 billion shares the bank put on the market.
Several major banks face exposure to automaker Chrysler LLC, which may need to file for bankruptcy if it doesn’t come through with a plan that will convince the U.S. government to lend it additional funds to stay afloat.
