Dutch financial services group ING is to cut 2,700 staff and contract jobs, it said on Thursday in announcing third-quarter results, slashing the headcount at its Dutch retail banking operations by 10 percent in the face of deteriorating markets.
Protesters shut down operations at Oakland's port and blocked traffic Wednesday in demonstrations against economic inequality and police brutality that were marred by scattered vandalism.
Stocks rebounded after two days of losses on Wednesday, aided by upbeat job market data as investors eyed a crisis meeting about Greece and a Federal Reserve policy session.
Bank of America Corp. employees are flooding rival companies with resumes as a major cost-cutting program gets under way at the second-largest U.S. bank
The major US banks were particularly hammered.
Bank of America has canceled its plans for a $5 monthly debit card fee in response to public backlash, making it the last major bank to retreat. Bank of America had proposed the fee in response to the 2010 Dodd-Frank financial regulatory bill.
Tribune Co, the owner of the Los Angeles Times and Chicago Tribune newspapers, suffered a legal defeat on Monday after a judge late Monday rejected its plan to end its three-year stay in bankruptcy.
With customers angry about new bank fees, credit unions have been trying to use the displeasure to gain more customers.
SunTrust Banks Inc said on Monday it planned to drop a $5 monthly debit card service fee, adding the Atlanta-based regional bank to the list of lenders dropping such maintenance fees amid rising public criticism of the industry.
The bankruptcy of New York-based MF Global Holdings brought the European debt crisis to New York, wiping out a respected firm and tarnishing the reputation of a former Goldman Sachs CEO.
Asian shares fell Monday and commodities slipped as the dollar spiked to a three-month high against the yen following Japan's intervention, prompting investors to book profits after last week's rally.
MF Global Holdings Ltd was in talks on Sunday with possible buyers with the aim squarely on doing a deal, though all options were on the table, a person briefed on the matter said.
Diversified financial services firm Wells Fargo & Co. (NYSE:WFC) said it is cancelling its planned five-state pilot of a monthly $3 fee for users of its debit cards as a response to customer feedback the bank has received.
The Bank of America Corp., after receiving heavy public criticism for a planned $5-per-month debit-card fee, is likely to give customers more ways to avoid the fee, a person familiar with the bank's plans said Friday.
MF Global Holdings Ltd. is racing to sell all or part of its business this weekend, with its futures brokerage business seen as the most attractive, a source familiar with the situation said Friday.
Bank of America Corp, after receiving heavy public criticism for a planned $5 per-month debit card fee, is likely to give customers more ways to avoid the fee, a person familiar with the bank's plans said Friday.
A controversial weapon could be deployed soon in the U.S. fight against the housing crisis as states and top banks near a deal in their dispute over mortgage abuses -- cutting the mortgage debt owed by homeowners.
In the U.S., bank stocks performed especially superbly.
Stocks surged 3 percent on Thursday as an agreement by European leaders to help contain the region's two-year debt crisis lifted a cloud hovering over markets.
Stocks surged 3 percent in a broad rally on Thursday as a long-awaited agreement by European leaders to boost the region's bailout fund promised to remove a major headwind for the market.
Stocks surged 2 percent on Thursday after European leaders reached a long-awaited agreement to boost the region's bailout fund and struck a deal with banks and insurers to accept 50 percent losses on Greek bonds.
The National Security Agency, a secretive arm of the U.S. military, has begun providing Wall Street banks with intelligence on foreign hackers, a sign of growing U.S. fears of financial sabotage.