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Latest news on ‘Financial Services’

  • Lehman executives cause of failure – examiner’s report

    Grace Wong – Failings by Lehman Brothers executives and its auditor led to the bank collapse that unleashed the worst of the financial crisis, according to a report by court-appointed [...]

  • Forget the Fed, All Eyes Now on China’s Central Bank

    China’s consumer price inflation rose a faster-than-expected 2.7% in February, the sharpest increase since October 2008. Coming on the heels of Tuesday’s strong import/export data and amid a surge in [...]

  • Bank of America Eliminates Overdraft Fees on Debit Buys

    By DAN FITZPATRICK And ROBIN SIDEL
    Bank of America Corp. plans to announce Wednesday that it is eliminating $35 overdraft fees on debit-card purchases as the bank tries to stay ahead [...]

  • AIG sells Alico unit to MetLife for $15.5 billion

    CHARLOTTE, N.C. (AP) -American International Group Inc. said Monday that it will sell its American Life Insurance Co. division for $15.5 billion to MetLife Inc. The government-approved deal, AIG’s second [...]

  • AIG 4Q Loss Narrows After 2008 Record

    NEW YORK (Dow Jones) – American International Group Inc. (AIG) posted a nearly $9 billion fourth-quarter loss as the troubled insurance giant continued to be hammered by investment writedowns and [...]

  • Obama hails new credit card rules

    by David Jackson – Starting today, credit card companies have to give you ample notice if they change credit card rules.
    “These new rules don’t absolve consumers of their obligation to [...]

  • Goldman Sachs details 2001 Greek derivative trades

    LONDON (Reuters) – Goldman Sachs (GS.N) has defended the cross-currency derivatives it conducted for Greece in 2001 which reduced the country’s debt as a common currency risk management procedure consistent [...]

  • BNP Paribas Q4 profit beats forecasts on lower charges

    PARIS (Reuters) – BNP Paribas (BNPP.PA) posted higher fourth-quarter profits that beat market forecasts and France’s biggest listed bank struck a relatively confident note despite the economic uncertainty clouding the [...]

  • BOJ May Refrain From Easing Even as Deflation Deepens

    By Mayumi Otsuma and Keiko Ujikane
    (Bloomberg) – The Bank of Japan will probably refrain from easing monetary policy further at a board meeting this week because the recovery remains intact [...]

  • BAE to Book Write-Down After Contract Fails

    By STEVE MCGRATH
    LONDON—U.K. defense giant BAE Systems PLC said Monday it will book a £592 million ($927.7 million) write-down in its 2009 accounts after it failed to win a follow-on [...]

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