More Finance and Banking Articles

  • 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...

  • BancorpSouth buying Louisiana-based insurance firm

    TUPELO, Miss. (AP) — BancorpSouth Insurance Services Inc., a subsidiary of BancorpSouth Bank, has agreed to acquire the assets of Lafayette, La.-based Knox Insurance Group LLC. Financial terms of the pending transaction were not disclosed. BancorpSouth officials say in a news release with...

  • Aspen Insurance rejects Endurance's $3.2B buyout

    Aspen Insurance Holdings Ltd. said Monday that its board has rejected a proposal from fellow insurance company Endurance Specialty Holdings Ltd. to buy it for about $3.2 billion. Aspen said its board rejected the proposed deal because it is "not in the best interest" of the company or...

  • TIAA-CREF buying Nuveen for $6.25B

    NEW YORK (AP) — Financial services provider TIAA-CREF says it's buying investment manager Nuveen Investments in a deal valued at $6.25 billion including debt. Nuveen has about $221 billion in assets under management, bringing TIAA-CREF's total to about $800 billion. TIAA-CREF says the...

  • JPMorgan's first-quarter profit falls 20 percent

    NEW YORK (AP) — JPMorgan Chase, the biggest U.S. bank by assets, said Friday its first-quarter earnings fell 20 percent, driven by a decline in investment banking and mortgage lending. EARNINGS: The bank reported net income of $4.9 billion for the first quarter, after stripping out payments...

  • State Farm CEO: Bloomington remains company's home

    BLOOMINGTON, Ill. (AP) — State Farm Insurance Co. CEO Ed Rust Jr. says the company's plans to expand in Arizona, Texas and Georgia will not affect the company's headquarters in Bloomington. According to The Pantagraph in Bloomington (http://bit.ly/1kRrWyN ), Rust told a crowd at Illinois...

  • Wells Fargo's earnings rise 14 percent

    First-quarter profit for Wells Fargo & Co., the biggest U.S. mortgage lender, surged 14 percent in the latest quarter as the bank continued to trim its losses on soured loans. EARNINGS: Net income after dividends on preferred stock rose to $5.6 billion in the January-March period from $4.9...

  • Chief of India's central bank criticizes Federal Reserve's monetary-easing efforts

    India's top central banker criticized the Federal Reserve in two appearances in Washington on Thursday, saying that the U.S. central bank should take into consideration the impact of its monetary-easing programs on emerging economies like India's. Raghuram Rajan, a University of Chicago...

  • US Treasury raises $2.38b in Ally stock sale

    WASHINGTON (AP) — The Treasury Department has raised $2.38 billion after selling a large chunk of its stock in Ally Financial Inc. as part of the government's ongoing effort to recoup the billions of dollars spent bailing out companies during the 2008 financial crisis. Treasury said Wednesday...

  • House Republicans aim for JOBS Act 2.0

    House Republicans are trying to recreate the success of the JOBS Act, two years after its passage. The Jumpstart Our Business Startups Act, intended to reduce capital costs for startups by deregulating some aspects of securities law, was one of the rare bipartisan legislative efforts of the...

  • Regulators finalize leverage ratio for big banks, would require $68 billion of extra capital today

    The amount of cash banks are required to hold in case of an emergency is increasing, thanks to a rule that U.S. regulatory agencies finalized Tuesday. The Federal Reserve and other agencies voted to increase the supplementary leverage ratio for the eight largest U.S. banks, requiring that they...

  • Vatican bank gets pope's blessing to keep going

    VATICAN CITY (AP) — Pope Francis gave his backing Monday to the scandal-tainted Vatican Bank to carry on provided it presses ahead with efforts to bring its banking practices up to international standards. To continue operating, the bank, which has been caught up in money-laundering probes...



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