More Finance and Banking Articles

  • Fifth Third Bancorp 1Q earnings fall 25 pct

    CINCINNATI (AP) — Fifth Third Bancorp reported Thursday that its first-quarter net income fell 25 percent, mostly on increased legal costs and a decline in its investment in its former Vantiv payment-processing subsidiary. The Cincinnati-based company says net income fell to $309 million, or...

  • Morgan Stanley's income rose 18 percent

    NEW YORK (AP) — Investment bank Morgan Stanley said Thursday that its first-quarter income rose 18 percent from a year ago, helped by higher earnings in its trading and merger and acquisitions advisory businesses. THE RESULTS: Morgan Stanley earned $1.39 billion, up from $1.18 billion in the...

  • Goldman's income falls 11 percent, but still beats

    NEW YORK (AP) — Goldman Sachs' earnings fell in the first quarter as bond trading slumped, but the results still came in ahead of what investors expected as other parts of the bank performed well. EARNINGS AND REVENUE: The bank earned $1.95 billion in the quarter, down 11 percent from $2.19...

  • Congressional Budget Office: TARP on track to cost government $27 billion

    The enormous bailout of the U.S. financial system at the height of the financial crisis in fall 2008 is on track to cost the federal government $27 billion, the Congressional Budget Office estimated in a report issued Thursday afternoon.

  • AmEx posts higher 1Q profit as spending picks up

    NEW YORK (AP) — American Express said Wednesday its net income climbed in the first quarter, helped by higher spending by its cardholders even as cold winter weather gripped much of the country. The New York-based company said its cardholders spent 6 percent more in the first three months of...

  • Capital One Financial's profit edges up

    MCLEAN, Va. (AP) — Capital One Financial Corp. says its first-quarter profit edged up, even as income it receives from lending slipped. After the market closed Wednesday, McLean, Va.-based Capital One reported net income of $1.14 billion, or $1.96 per share, for the three months ending March...

  • King and Bank of America are big market movers

    NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE King Digital Entertainment Plc, up 60 cents to $18.03 The maker of the "Candy Crush" is partnering with China's messaging giant Tencent to showcase...

  • House panel hears bill on pay day loan curbs

    PROVIDENCE, R.I. (AP) — The House Finance Committee has heard testimony on a bill that would prohibit "pay day" lenders from charging as much as 260 percent interest on the loans. The legislation, sponsored by Rep. Frank Ferri, was being considered Wednesday afternoon. It would eliminate a...

  • Former Anglo Irish Bank chairman cleared of fraud

    LONDON (AP) — A jury Wednesday cleared former Anglo Irish Bank chairman Sean FitzPatrick of all fraud charges related to a loans-for-shares scheme that preceded the bank's 2009 collapse. The 65-year-old FitzPatrick had denied providing illegal financial help to selected clients. The verdict...

  • Bank of America posts loss, hurt by legal charges

    CHARLOTTE, N.C. (AP) — Bank of America said Wednesday that it swung to a loss in the first quarter, hurt by $6 billion in legal charges. A LOSS: The Charlotte, N.C., bank reported a loss applicable to common shareholders of $514 million, compared with a profit of $1.11 billion a year earlier....

  • Credit Suisse profits down 34 percent

    FRANKFURT, Germany (AP) — Swiss bank Credit Suisse says its net profit fell 34 percent in the first quarter, more than expected, as bond-market woes hurt earnings at its investment banking business. Profit dropped to 859 million Swiss francs ($979 million) from 1.303 billion francs in the...

  • Janet Yellen signals more aggressive stance toward banks

    WASHINGTON (AP) — The Federal Reserve may be about to turn more aggressive in its regulation of the financial system. Fed Chair Janet Yellen suggested Tuesday that current regulatory rules might not be enough to prevent the kind of risk-taking that triggered the 2008 financial crisis and...

  • EU lawmakers complete financial system overhaul

    BRUSSELS (AP) — The European Union's Parliament on Tuesday completed the biggest overhaul of the bloc's financial system since the introduction of the euro currency, passing laws to minimize the risk and cost posed by failing banks. Lawmakers signed off on the creation of a European authority...

  • Citigroup's earnings edge higher in first quarter

    NEW YORK (AP) — Citigroup's first-quarter earnings rose, helped by declines in expenses and provisions for bad loans. The earnings improved even as revenue from mortgage refinancing and bond trading fell. EARNINGS: Citigroup reported a profit of $4.1 billion in the first quarter, after...

  • WebMd and Citigroup are big market movers

    NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Edwards Lifesciences Corp., up $8.03 to $81 A court reaffirmed an earlier ruling that Medtronic's CoreValve system infringes on a patent held by the...



From the Weekly Standard

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    Polls are overrated, but they can be still instructive. So what’s to be learned from a Fox News survey of 1,012 registered voters conducted April 13-15? 

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  • As Goes North Carolina

    Raleigh, N.C.  To win the Senate, Republicans must win North Carolina. While it’s mathematically possible to take the Senate without ousting Democratic senator Kay Hagan, the chances of that...

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