Skip to: Content
Skip to: Site Navigation
Skip to: Search
THURSDAY, NOVEMBER 26, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: banking industry

banking industry stories: 107 news summaries

81 - 100 of 107 Stories | << Prev 1 2 3 4 5 6 Next >>

Switch to grid view »

analysis

 Citi Rescue 
 Could Lead to 
 More Trouble 

Rivals may take risks, expecting taxpayer protection

Nov 25, 08 7:23 AM CST
(Newser) - The Citigroup rescue bolstered confidence in the financial sector in the short term, but in the long term it could spell more trouble for taxpayers and other struggling banks, writes Eric Dash in the New York Times. Other banks will see the bailout as a template for future ones—giving... More »

MORE ABOUT:
Citigroup • Citibank • bailout • banks • banking industry • financial crisis

MARKET Open

 Stocks Jump on Citi Rescue 

Dow makes triple-digit move in the right direction

Nov 24, 08 8:58 AM CST
(Newser) - Stocks kept Friday’s good mojo going this morning, after the government announced a massive plan to prop up Citigroup. The Dow rose 145 points at the open, as Citi shares leaped 57%, and pulled the rest of the sector with them. Bank of America rose 13%, while Morgan Stanley... More »

MORE ABOUT:
stock market • Citigroup • financial sector • S&P 500 • bailout • Dow Industrial • banking industry • financial crisis

AmEx Cleared to Become Commercial Bank

Credit card company can now accept deposits, access emergency Fed funds

Nov 11, 08 2:09 AM CST
(Newser) - The Fed has given credit card giant American Express the all-clear to become a bank holding company in a bid to keep the financial crisis wolves from the door, Marketwatch reports. AmEx can now accept deposits and access the Fed's emergency lending facilities. The central bank waived the normal 30-day... More »

MORE ABOUT:
Federal Reserve • bank • American Express • banking • commercial banks • banking industry

Citigroup Looks to Buy Bank After Wachovia Misstep

Seeking to ease embarrassment from its failed bid, it looks to buy a regional player

Nov 10, 08 7:54 AM CST
(Newser) - After losing Wachovia to Wells Fargo, Citigroup is again looking to buy a bank to bolster its deposit base in the face of continuing economic turmoil, reports the Wall Street Journal. The latest target is a regional bank considerably smaller than Wachovia. Citi recently drew $25 billion from the Treasury... More »

MORE ABOUT:
Citigroup • mergers and acquisitions • Wachovia • Wells Fargo & Co • banking industry

 Paulson Slipped Banks
Quiet $140B Tax Break

Reversal of 20-year-old tax law allows banks to shelter profits

Nov 10, 08 7:03 AM CST
(Newser) - While Congress and the nation were busy debating the $700 billion bailout package in late September, Treasury issued a five-sentence notice that could reap banks up to $140 billion in tax breaks, the Washington Post reports. The provision reverses an obscure policy written into law more than 20 years ago... More »

MORE ABOUT:
taxes • Henry Paulson • Internal Revenue Service • banking industry • financial crisis

 Even Healthy Banks 
 Eye Bailout Bucks 

Institutions fear market will judge them harshly for not tapping into $700B pot

Nov 3, 08 9:58 AM CST
(Newser) - Investor and public pressure could prompt up to 1800 more financial institutions, both publicly and privately held, to apply for a share of the $700 billion bailout fund, the Wall Street Journal reports. The cash-grab likely stems from fear that failing to do so would make an institution look like... More »

MORE ABOUT:
Henry Paulson • Treasury Department • banking industry • financial crisis • Wall Street bailout

Banks to Use Half Their Bailout Bucks to Pay Dividends

Critics: Cash was meant to spark lending

Oct 30, 08 5:59 AM CDT
(Newser) - At least half the $163 billion banks are getting from the Treasury Department to shore up balance sheets and spur lending will be paid to shareholders as dividends over the next 3 years, reports the Washington Post. That’s raised the ire of members of Congress and some economists, who... More »

MORE ABOUT:
credit market • bailout • dividend • banking industry • financial crisis

ANALYSIS

Japan's Own Banking Crisis Informs Current Power Play

Segue to international market could bolster declining profits

Oct 23, 08 2:27 PM CDT
(Newser) - Japanese banks, which just years ago needed US investors to save them from bankruptcy, are using the current crisis to scoop up low-priced international firms. The timing is perfect for the Asian banks, desperate to bolster profits limited by a saturated domestic sector, the Financial Times reports. Though expansion may... More »

MORE ABOUT:
Japan • Morgan Stanley • Lehman Brothers • banks • banking industry

 Bankers to 
 Reap $70B 
 Despite Crash 

Economy's woes
don't put stop to
Wall Street bonuses

Oct 18, 08 7:05 PM CDT
(Newser) - Wall Street’s top banks are set to pay their financial workers more than $70 billion in salary and bonuses this year—a tenth of the $700 billion in taxpayer money committed to the bailout—despite the huge drops in share price and cash shortages they are experiencing, the More »

MORE ABOUT:
Wall Street • Morgan Stanley • Deutsche Bank • bonuses • banking industry • financial crisis

(Newser) - Citigroup said today it's going to let Wells Fargo go ahead with its acquisition of Wachovia, the Wall Street Journal reports. But all's not chummy in the banking world: Citigroup, which charges that Wachovia illegally backed out of a deal to accept a sweeter offer from Wells Fargo, is still... More »

MORE ABOUT:
Wachovia • Wells Fargo • Citibank • banking industry • financial crisis

(Newser) - The Treasury Department may take part ownership of many US banks in a bid to encourage lending and shore up confidence, the New York Times reports. Under the proposal, Treasury would give banks cash in exchange for ownership stakes. In theory, that would improve balance sheets and help banks lend... More »

MORE ABOUT:
Henry Paulson • credit crisis • bailout • banking industry • financial crisis

OPINION

Better Than a Bailout:
Boost FDIC Coverage to $1M

Higher deposit insurance would bring money in, help thaw credit markets

Oct 1, 08 10:17 AM CDT
(Newser) - Congress should stop fighting over the Paulson bailout, writes BusinessWeek economist Michael Mandel, and approve an expansion of FDIC deposit insurance to $1 million. It should also triple deposit insurance reserves to $145 billion. It would solve the immediate problem, calming the hysteria in the market, and attract funds to... More »

MORE ABOUT:
Henry Paulson • FDIC • investment banks • commercial banks • banking industry • financial crisis • Sheila Bair

(Newser) - As the financial crisis ripples through Europe, France’s banking industry is scrambling to assure investors and customers it will weather the storm, which prompted the country to join in the $9-billion bailout of Belgian-French bank Dexia, reports the Press Association. Dexia's cross-border status amplified the concern, reports the New ... More »

MORE ABOUT:
France • Christine Lagarde • bailout • banking industry • financial crisis • Dexia

Fed, Treasury Fall Back on Existing 'Inadequate' Tools

With no federal deal, agencies limited to ad hoc solutions

Sep 30, 08 11:42 AM CDT
(Newser) - With yesterday’s failure of the $700 billion bailout, the Fed and Treasury are reconsidering their options, the New York Times reports. Fearful of cutting interest rates, they're back to rescuing struggling institutions on a case by case basis, and printing money—offering $150 billion in emergency loans to banks... More »

MORE ABOUT:
Ben Bernanke • Federal Reserve • Henry Paulson • Treasury Department • credit crisis • bailout • banking industry • financial crisis

Wells Closing In
on Deal to
Buy Wachovia

Merger would create three banks with 30%
of all deposits

Sep 29, 08 5:38 AM CDT
(Newser) - Wells Fargo appeared to be close last night to forging a deal to buy struggling Wachovia, the nations's fourth-largest bank, reports the Wall Street Journal. Federal regulators pressured Wachovia to seek a suitor after its share prices plunged 47% last week. Citigroup was also in talks, but Wells now appears... More »

MORE ABOUT:
Citigroup • Wachovia • Wells Fargo • JPMorgan Chase • banking industry • financial crisis

 Charlotte Booms Amid Bust 

City is second-largest financial center in US, with $2 trillion in assets

Sep 28, 08 6:15 PM CDT
(Newser) - As the rest of the nation struggles through the mortgage bust, Charlotte, NC, is experiencing a boom, Time reports. The pro-business Southern city—home of Bank of America and eight other Fortune 500 firms—manages $2 trillion in assets, making it the second-largest financial center in the US behind New... More »

MORE ABOUT:
financial sector • financial institutions • Charlotte • banking industry

updated

JPMorgan Buys WaMu
After Regulators Seize It


Sep 25, 08 7:43 PM CDT
(Newser) - Federal regulators seized Washington Mutual tonight and sold nearly all of its operations to JPMorgan for $1.9 billion, the Washington Post reports. It is the largest bank failure in US history. WaMu, previously the nation's largest savings and loan, had been reeling from bad mortgage loans and put itself... More »

MORE ABOUT:
Washington Mutual • JPMorgan Chase • banking industry • financial crisis

Fed Loosens Reins on Private Funds Buying Into Banks

But some worry risky loans will result

Sep 23, 08 5:51 AM CDT
(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... More »

MORE ABOUT:
investing • private equity • Federal Reserve • bank • buyout firms • bank regulation • banking industry

 World Markets 
 Mixed: 'Fasten 
 Your Seatbelts' 

US turmoil continues to roil world's market; central banks act to insure liquidity

Sep 18, 08 5:34 AM CDT
(Newser) - A huge cash injection into global money markets by central banks and the buyout of British lender HBOS by Lloyds-TSB eased some investor worries and pushed European stocks slightly higher today, reports the New York Times. But concerns about the ongoing crisis in the US continued to batter Asian stocks... More »

MORE ABOUT:
Asian markets • credit market • European markets • London markets • banking industry

(Newser) - Morgan Stanley, one of the two big investment banks left standing in the economic rubble, is exploring a merger with Wachovia or another bank, the Wall Street Journal reports. Morgan Stanley officials have had preliminary talks with the other institutions as they scramble to shore up the company's plunging stock... More »

MORE ABOUT:
Wachovia • Morgan Stanley • credit market chaos • banking industry

81 - 100 of 107 Stories | << Prev 1 2 3 4 5 6 Next >>


from our news partners