bank

Stories 141 - 160 | << Prev   Next >>

US Will Buy Shares in American Banks

G7 agrees on 'aggressive action plan' after emergency finance meeting

(Newser) - Treasury chief Henry Paulson has announced plans to buy up shares in America's troubled banks, Reuters reports. The government will purchase equity in banks "as soon as possible," using some of the $700 billion approved by Congress to rescue the economy, Paulson said yesterday after a crisis meeting...

Credit Chill Spreads to Russia
 Credit Chill Spreads to Russia 
Oct 8, 2008 4:31 PM CDT

Credit Chill Spreads to Russia

Georgian war spooked foreign investment, destabilized economy

(Newser) - The credit crisis has officially reached Russia, revealing just how fragile the Russian economy is, BusinessWeek reports. Stocks fell so much this week that the government today suspended both exchanges to stem further loss. But the country's reliance on foreign cash—disappearing as investors flee—is bound to affect more...

UK Buys Up Bank Shares in Radical Bailout

Cost of drastic rescue package could top $800B

(Newser) - The British government will become part owner of the nation's biggest banks with a mammoth $88-billion rescue package for the troubled institutions, the Wall Street Journal reports. Under the plan, swiftly assembled after UK bank stocks plummeted in trading yesterday, the government will purchase non-voting shares in eight of the...

Sell Those Stocks! Banks Are Better: Cramer
Sell Those Stocks! Banks
Are Better: Cramer
opinion
Oct 6, 2008 8:30 PM CDT

Sell Those Stocks! Banks Are Better: Cramer

(Newser) - The stock market is no place to keep a dollar these days, warned hollering financial guru Jim Cramer today on Mad Money. Another depression is possible and energy woes are likely, he said, so the smart investor will free up money needed in the next 5 years by selling stock....

Citi May Seek to Recover Wachovia Deal

Bank could make a better offer; may sue Wells Fargo

(Newser) - Left hanging after Wells Fargo swooped in with a better offer to purchase Wachovia, the troubled Citigroup is mulling its options. It could attempt to sweeten its earlier bid, perhaps including pieces of the company it hadn’t agreed to take earlier—or launch a lawsuit. Citigroup may argue that...

Raising Deposit Insurance May Save Bailout Package

Help for George Baileys could win over balky politicians

(Newser) - A plan to boost deposit insurance for bank accounts is gaining traction in Washington and could help rescue the rescue package, the Wall Street Journal reports. Community bankers have been pushing hard for a hike from the current $100,000 limit to $250,000. The move, which would also ease...

Rumors Spark Wild Run on Asian Bank
Rumors Spark Wild Run on Asian Bank
Sep 25, 2008 6:24 AM CDT

Rumors Spark Wild Run on Asian Bank

Panicked thousands rush to grab savings from Bank of East Asia

(Newser) - Rumors that the Bank of East Asia was in trouble spread like wildfire through Hong Kong yesterday, causing a panicked mob to descend on the bank as thousands withdrew their life savings, the Financial Times reports. Police moved in to keep order as crowds demanded their money. BEA's tycoon chairman...

Fed Loosens Reins on Private Funds Buying Into Banks

But some worry risky loans will result

(Newser) - The Fed has loosened the rules that curtailed private investments in banks, the Wall Street Journal reports. The move may inject more cash into the financial system—if private equity chooses to invest—but will raise fears of profit-hungry investors snapping up stakes in banks to make quick cash with...

Japanese Firm Buys Lehman's Asian Assets

Nomura Holdings wins auction to pay $225M

(Newser) - Japan’s Nomura Holdings won an auction to buy bankrupt Lehman Brothers’ Asian assets for $225 million, the Wall Street Journal reports. Healthy Japanese firms like Nomura are pouncing on the Wall Street crisis as a means to expand. Lehman has 2,940 workers in the region, where the company...

Tweaked Bailout Bill Opens Aid to Foreign Banks

Revision is first change sparked by Treasury-Congress talks

(Newser) - The Treasury Department has amended its bailout bill to include foreign banks, Politico reports, abandoning an earlier requirement that banks be headquartered in the US to receive money. Now, the banks must have “significant operations in the US” or be approved by Henry Paulson—meaning Barclays, Credit Suisse, and...

UK's Largest Mortgage Lender in Buyout Talks

HBOS could be sold to Lloyds as early as tomorrow

(Newser) - Britain's biggest mortgage lender, HBOS, is in advanced discussions with Lloyds about a possible buyout, reports the Financial Times. Stock in the troubled lender has yo-yoed today, falling to less than a pound a share before rocketing up and then plummeting again. While a Lloyds purchase of HBOS could trigger...

Lehman Bankruptcy Opened Door to Barclays Deal

(Newser) - Barclays will pick up the US capital-markets business of Lehman Bros. in a $2-billion deal worked out today that will go before a bankruptcy judge at 5pm and Lehman creditors shortly after that, the Wall Street Journal reports. Barclays backed away from buying all of Lehman over the weekend, but...

Get Set for Disorderly Lehman Liquidation
Get Set for Disorderly Lehman Liquidation
markets
Sep 14, 2008 7:24 PM CDT

Get Set for Disorderly Lehman Liquidation

(Newser) - Barclay's dropping out of a Lehman deal means that the Feds lost a game of chicken with the big banks holding Lehman mortgages, and now there will be a disorderly liquidation of Lehman assets, instead of the orderly liquidation that would have been possible with a real buyer, James Cramer...

UK Banks 'Milk Borrowers' to Pay for Credit Crunch

Banks hike mortgage payments despite interest rate cuts

(Newser) - Britain's big banks are being accused of hoisting nearly £3 billion in interest payments on customers to make up for bad bank investments, the Daily Mail reports. Seeking to recoup huge losses from assets linked to subprime US mortgages, the banks have hiked mortgage rates and fees despite interest...

Squeezed Banks Slash Biz Loans
Squeezed
Banks Slash
Biz Loans
Jul 28, 2008 5:09 AM CDT

Squeezed Banks Slash Biz Loans

Real-estate fallout dries up credit stream

(Newser) - Reeling from real-estate losses, banks are turning off the credit spigot to loan-seeking businesses, the New York Times reports. The loan reduction means more bad news down the line as money-starved companies begin to cut workers. Banks cut credit nearly 3% over the past year, the most since 2001, according...

Feds Seize 2 Failed Banks
 Feds Seize 2 Failed Banks
Jul 26, 2008 6:07 AM CDT

Feds Seize 2 Failed Banks

Western banks sold to Mutual of Omaha

(Newser) - The housing bust and credit crunch have toppled two more banks, Reuters reports. Federal regulators have taken over First National Bank of Nevada and California's First Heritage Bank and sold them to Mutual Bank of Omaha. The undercapitalized institutions were the sixth and seventh to go under in the US...

These Days, Local Banks Look Good
These Days, Local Banks Look Good
OPINION
Jul 19, 2008 10:35 AM CDT

These Days, Local Banks Look Good

Your community banker cares, and may even have good deals

(Newser) - Community banks may seem like quaint relics to those who prefer banking online, but IndyMac's meltdown should have us thinking differently, Ron Lieber writes in the New York Times. Lieber visited a bank in small-town Maryland, and found a friendly, gray-haired manager who gives banking a personal touch. “If...

IndyMac Failure Exposes Risk for Uninsured $$$
IndyMac Failure Exposes Risk for Uninsured $$$
analysis
Jul 12, 2008 9:29 PM CDT

IndyMac Failure Exposes Risk for Uninsured $$$

Depositors with more than $100K in the bank could be in trouble

(Newser) - IndyMac Bank's failure yesterday was a "wake-up call" to anyone with deposits above the $100,000 FDIC insurance limit, Terry Savage writes in Street.com. Americans have more than $2.6 trillion in uninsured accounts, and 10,000 depositors have more than $1 billion at risk at IndyMac alone....

ATM Thefts On the Rise
 ATM Thefts On the Rise 
Jul 3, 2008 7:25 PM CDT

ATM Thefts On the Rise

Non-bank teller machines make easy targets, police say

(Newser) - ATM theft is a labor-intensive crime: You have to steal a pickup, slam it through a gas station storefront, and haul the ATM out. But that’s exactly what an increasing number of criminals are doing, MSNBC reports. From 2000 to 2006, thieves nabbed about 120 ATMs a year across...

A Year On, Credit Crisis Lingers
 A Year On, 
 Credit Crisis
 Lingers 
ANALYSIS
Jul 1, 2008 7:09 AM CDT

A Year On, Credit Crisis Lingers

'Vicious circle' threatens broader economy

(Newser) - Despite assurances from some experts that the credit crisis would be short-lived, the forecast remains bleak after more than a year of frustrations, the New York Times reports. In a “vicious circle,” falling home prices lead to more bad loans, which makes credit harder to get so that...

Stories 141 - 160 | << Prev   Next >>