Banking News

Citigroup Inc , which aspires "to become the world's digital bank", will not webcast its annual meeting next week in St. Louis.

The Federal Reserve indicated to Citigroup Inc that the bank would get more time to fix certain "stress test" planning problems before rejecting its capital plan last month, the Wall Street Journal reported, citing people close to the company.

Regional bank Hancock Holding Co. said Wednesday that it has met efficiency targets nearly a year early, as quarterly profits bounced back thanks to lower expenses.

The bank on Wednesday posted $6 billion of litigation costs for its first quarter, far exceeding the $3.7 billion of settlement costs that investors had previously known about.

Yahoo Inc. jumped Wednesday after the Internet giant reported revenue growth for the first time in more than a year, while Bank of America Corp. shares slipped after the bank said it swung to a loss last quarter.

PNC Financial Services Group Inc. marked its fourth consecutive quarter of profits of at least $1 billion, but President and CEO William Demchak and CFO Robert Reilly were again cautious during a conference call with analysts Wednesday.

Bank of America beat Wall Street Q1 2014 earnings estimates with earnings per share of $0.35 and revenue of $22.8 billion.

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The U.S. Federal Reserve should try to make its communications on the expected path of interest rates more consistent with its policy statements, a top official at the central bank said on Wednesday.

Bank of America Corp posted a first-quarter loss as the No. 2 U.S. bank recorded $6 billion in litigation expenses related to a settlement with the Federal Housing Finance Agency and other mortgage-related matters.

Several years of sound economic management have left the Philippines with what appears to be one of the strongest government balance sheets in Asia: a current account surplus of nearly 5% of gross domestic product and enough foreign reserves to cover more than a year's worth of imports.

If you were to survey the field to name major banks, we're guessing that U.S. Bancorp wouldn't top too many lists.

Crestview Partners looks like it will be merging Munder Capital Management with another of its portfolio companies, two sources told peHUB .

UBS failed to properly disclose risks it took with Swatch Group's funds and should be held responsible for the losses that followed, the watchmaker argued in a Swiss court.

Jamie Dimon has a message for his bank's investors who may be concerned about rising costs for those struggling to get by: It's not us, it's them.

But the Dow Jones Industrial Average, S&P 500 and the Nasdaq were all in slightly negative territory by 10:30a.m. ET.

On Monday, Citi announced that its earnings in the first quarter were up 3.5% from a year ago to $3.9 billion.

"Both history and theory have the same lesson: It is possible to undo what might now appear to be permanent changes."

US stocks closed higher on Monday as Citigroup's earnings and strong retail sales gave investors reasons to buy equities despite a resurgence of geopolitical uncertainties.

The Federal Reserve Bank of Atlanta released an annual report detailing the country's great recession recovery.