Archive for the 'Bank' category
former American International Group (AIG) lead man Maurice Greenberg (called “Hank” by most and the “Gangster of Love” by yours truly) has agreed to a staged sale of his AIG shares to UBS (UBS).
On Friday, Starr International (Greenberg’s investment vehicle) issued a filing with the SEC stating that it will sell as many as 10 million shares of
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Categories: Bank, Money, US Markets
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Treasury Secretary Timothy F. Geithner on Tuesday told a congressional panel considering the future of Fannie Mae and Freddie Mac that the Obama administration would seek to keep in place aspects of the housing-finance system that have worked well during the past few decades as it overhauls the parts that did not.
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Categories: Bank, Forex, US Markets
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Lehman Brothers Holdings on Monday filed a plan with the U.S. bankruptcy court in Manhattan to wind down its remaining assets and operations — and end the largest U.S. bankruptcy case in history
Under the proposed Chapter 11 plan, a newly created business called LAMCO would manage what is left of Lehman’s
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February 16, 2010 12:34 am
Banking giant Barclays has seen its full-year profits increase by 92% to £11.6bn in 2009. The figure was boosted by the sale of its BGI fund management arm to US firm BlackRock last year.
Stripping this out, profits were £5.3bn with £2.5bn coming from its Barclays Capital investment banking business.
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Categories: Bank, Market News, US Markets
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January 17, 2010 10:15 pm
Intense pressure from the Obama administration spurred loan servicers to ramp up the amount of permanent modifications they offered to troubled borrowers.
The number of long-term adjustments completed under the president’s foreclosure prevention plan rose to 66,465 at the end of
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Wall Street bank JP Morgan Chase has reported profits of $3.3bn (£2bn) for the last three months of 2009. That compares with profits of $702m reported at the end of 2008 at the height of the financial crisis.
Total profits for the year were $11.7bn, the bank said, with
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LONDON (Reuters) – Virgin Money could announce it is buying a small UK bank as early as this month, sources familiar with the situation said, a move that could make it the first high-profile arrival in the sector in Britain since the crisis.
Virgin Money, the consumer credit arm of Richard Branson’s Virgin
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December 25, 2009 11:49 pm
Citigroup says the Abu Dhabi Investment Authority (ADIA) has filed a claim against it seeking to stop a 2007 deal to buy $7.5bn (£4.6bn) worth of stock.If the deal is not blocked, ADIA is asking for damages of more than $4bn.
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Australian Securities and Investments Commission to unlock frozen mortgage funds
The Australian Securities and Investments Commission (ASIC) this week said it would grant “conditional relief” for investors in frozen mortgage funds.
“The purpose of the relief is to improve investor access to their money in
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Categories: Bank, Money, World Economy
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The number of new mortgages approved by the main UK banks for house purchase is still rising, according to the British Bankers’ Association (BBA).
Banks, which currently account for most new mortgages, approved 42,100 home loans for house buyers in September, up from 40,100 in August.
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Categories: Bank, Money, World Economy
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