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.
IBT Staff Reporter
Apr 05, 2012
It seems that gamers have stepped into the forefront when it comes to voicing opinions on the Internet. The lackluster ending of “Mass Effect 3” sent video game fanatics in an uproar, and now game publisher Electronic Arts has just won The Consumerist award for this year’s Worst Company in America.
Lisa Eadicicco
Apr 04, 2012
Two of the most iconic American brands suffered setbacks to their credit ratings on Wednesday, evidence that some of the nation's most visible economic engines could face higher borrowing costs.
Mike Obel
Apr 04, 2012
China’s Premier Wen Jiabao called the country’s state-owned banks a “monopoly” that has to be broken to allow freer flow of capital to loan-hungry smaller businesses, as the world’s second largest economy appears to have skidded to its slowest growth in three years.
Moran Zhang
Apr 04, 2012
Who is Goldman Sachs? Wall Street's top investment bank, or a company that treats its clients like muppets in order to make as much profit as possible? And what does that mean for the rest of us?
Raymond Ronamai
Apr 04, 2012
PepsiCo Inc. (NYSE:PEP), the world's second-largest food and beverage company, claimed the No.784 spot on the IBTimes 1000 list by expanding aggressively in emerging markets and catering to consumers' demand for healthier food and beverages.
Moran Zhang
Apr 02, 2012
The U.S. nonfarm payroll report on Friday will highlight the economic calendar this week -- April 2 to 6 -- even though it will be released on Good Friday when the stock market is closed.
Moran Zhang
Mar 30, 2012
Since Greece technically defaulted over two weeks ago, yields on its bonds have risen sharply while insurance for Greek bonds has virtually disappeared, reflecting a lack of bond buyers and reluctance by loss-wary banks to write new protection.
Benjamin Reeves
Mar 26, 2012
From an Apple fan's point of view, one could trust the Cupertino tech giant in terms of the wide range of products it offers to the customers. Parting with hundreds of dollars each year for laying hands on Apple gadgets does tell that story. But would you ever trust Apple with all your money? Would you trust Apple with your savings and consider banking with an iBank?
Kukil Bora
Mar 26, 2012
This week - March 26 to 30 - will highlight Wednesday's durable goods report and a busy policy calendar, including the core of the Federal Open Market Committee: Chairman Ben Bernanke and New York Fed President William Dudley. Wall Street will be closely monitoring the Fed officials' speeches, hoping to find clues of their latest views on the economic, inflation and policy outlooks.
Moran Zhang
Mar 23, 2012
President Barack Obama must nominate a new President of the World Bank soon, ahead of its June annual meeting in Washington. Two Third World candidates have been mentioned but another American is the likely winner.
David Zielenziger
Mar 21, 2012
The companies whose shares are moving in pre-market trade on Wednesday are: L&L Energy, FSI International, Hartford Financial Services, Tecumseh Products, Oracle Corp, Bank of America Corp, Baker Hughes, Perfect World Co, Halliburton Co and ARIAD Pharmaceuticals.
Satya Nagendra Padala
Mar 21, 2012
Senior Facebook executives met Monday with analysts and bankers, but CEO Mark Zuckerberg didn't attend. The company's chief financial officer told attendees that Zuckerberg prefers to focus on developing Facebook's social-networking service.
Consella Lee
Mar 20, 2012
The Federal Reserve plans to fine eight more bank holding companies for improper home mortgage foreclosures, the latest fallout from the so-called robo-signing scandal in which banks filed foreclosure documents without verifying their accuracy.
Mike Obel
Mar 20, 2012
Facebook will pay a fee of just 1.1 percent to underwriters of its initial public offering, a source with knowledge of the company's plans said on Monday.
Wendy Li
Mar 19, 2012
Facebook will pay just a 1.1 percent fee to underwriters of its initial public offering, according to a source with knowledge of the company's plans, doling out a much slimmer than typical payout.
IBT Staff Reporter
Mar 19, 2012
At the height of the boom, commercial banks and investors gorged themselves on real estate, building unsustainable towers of debt that finally collapsed in 2008. But with the housing market improving, they may soon return for second helpings.
Roland Li
Mar 19, 2012
U.S. and European investment banks may face headline risk again from credit ratings downgrades by Moody's Investors Service Inc. in the coming weeks, Nomura Securities warned Monday.
Moran Zhang
Mar 19, 2012
The owners of the New York Mets settled a lawsuit Monday with Irving Picard, trustee for victims of Bernard Madoff's Ponzi scheme, for $162 million, avoiding a potential costly trial.
Roland Li
Mar 19, 2012
The positive reports on the U.S. economy are seen as the major cause of the stocks rallying.
Bhaskar Prasad
Mar 16, 2012
Whatever buzz came from the post-FOMC statement and catapulted stocks up on Tuesday turned into a hush Wednesday afternoon. Equities started strong but ended with a whimper.
Mike Obel
Mar 14, 2012
Shares of Citigroup (NYSE: C) fell more than 4 percent Wednesday after the Federal Reserve said the No. 3 U.S. bank flunked a “stress test” of its financial viability.
David Zielenziger
Mar 14, 2012