Europe’s biggest banks turmoil can hurt the financial institutions in the United States. The signs can easily be seen in Stock market, where many bank shares dropped down again. Citigroup sinks down to 10.5% where as Bank of America dropped down to nearly 11%. The fall in Morgan Stanley was 9.7 percent whilst Golden Sachs was [...]

S. & P. lowers its ratings in nation’s one of the most significant financial institutions, from major trading clearinghouses to mortgage giants like the Federal National Mortgage Association which depends on the government heavily. The credit ratings for United States dropped from AAA to AA+. S. & P also slumps down the top credit rating for [...]

Bank of America might be dragged to court by AIG, the American International Group, reason being several mortgage-backed securities, further increasing the number of investors who seek compensation for the uneasy mortgages which had resulted in the financial crisis. The court proceedings seek recovery of over $10 billion suffered as losses on investments worth $28 [...]

Hardly a few months back, JPMorgan Chase traders experienced such a smooth sailing that there was not a single day they had to suffer, in the first quarter. However the hot streak seems to come to an end with the bank reporting its second-quarter results this week. According to the expectations of the analysts, JPMorgan [...]

Following an agreement that one of its divisions, dishonestly manipulated dozens of bidding competitions for personal gain (winning business from local and state governments) JPMorgan would now have to pay $211 million. A minimum of 93 clandestine deals were made by it with corporations which dealt with the bidding processes in 31 states, the Securities [...]

On Thursday foreign regulators were loathed by U.S. bank regulators, stating the way financial institutions in Europe are only concerned about their own capital requirements, forgetting the upsettingly high prospects of future problems. According to Sheila Bair, the retiring Chairman of FDIC (Federal Deposit Insurance Corp), through the utilization of internal risk estimates, the European [...]

The Obama administration is now looking forward to the business community of the country with a view to convince the lawmakers of the grave consequences of a non-payment as they are concerned that raising the country’s borrowing cap may not be done in time by the Congress. Outgoing economic adviser at the White House Austan [...]

December 3, 2010, NEW YORK (Reuters): According to two familiar people with matters, on Friday stated that General Electric Corporation, Private equity Company Warburg Pincus and Eaton Corporation continue in the race for Platform Solution unit of BAE Systems Plc as the auction attained the final stage. Sources said that the General Electric Corporation that [...]

The regulator of US laws were facing pressure to show the lawmakers that they are policing foreclosures better with the evidence that lenders have evicted aberrant borrowers. Senate Banking Committee is planning to hold a hearing over the problems in the industry offering mortgage services. The issues which are still struggling in the housing market [...]

The automobile industry is still an open space of competition and a bigger brand coming with their IPOs is an evidence of that fact. Recently when The General Motors went ahead with a proposal of bringing an initial public Offering (IPO) in the market to the bankers, they were received by a huge round of [...]