Financial Service News

After guiding Hewlett-Packard through one crisis after another, CEO Meg Whitman is now earning more than $1 in annual salary.

Semiconductor company Integrated Device Technology announced Tuesday that Greg Waters will take its reins as president and CEO in the new year.

About 1,500 incarcerated New York City teens have received behavioural therapy aimed at lowering their chances of returning to jail in the first year of a Goldman Sachs-funded program that's the first U.S. effort to lure private investors to finance public social programs.

JPMorgan Chase & Co sued the Federal Deposit Insurance Corporation in federal court on Tuesday, saying the agency owes it more than $1 billion in compensation for not assuming legal claims arising from its acquisition of Washington Mutual's assets after its 2008 implosion.

The Justice Department is preparing to file civil fraud charges against Citigroup Inc and Bank of America's Merrill Lynch unit over their sale of flawed mortgage securities ahead of the financial crisis, according to people familiar with the probes.

New figures appear to undermine a claim by Chancellor George Osborne that the Lloyds share sale in September represented 'a profit for taxpayers' Taxpayers took a loss of at least A 230 million from the return of a 6% chunk of Lloyds Banking Group to the private sector, according to a National Audit Office report.

A jury has returned to a New Orleans courthouse for a second day of deliberations in the trial of a former BP engineer charged with trying to obstruct a federal probe of the company's 2010 oil spill in the Gulf... A jury has returned to a New Orleans courthouse for a second day of deliberations in the trial of a former BP engineer charged with ... (more)

She tells the UK's "Guardian" that John McVie's "prognosis looks good," and that they believe he'll be "up and running again in a couple of months."

The U.S. Securities and Exchange Commission has filed a lawsuit claiming a Colorado Springs man defrauded investors of more than $31 million.

New documents show some members of a Saskatchewan First Nation are facing allegations they misused government money meant for social assistance to buy themselves vehicles, horses and trailers.

Atlas Mara, a new shell company backed by the former boss of Barclays Bob Diamond, said it had raised $325 million by listing on the London Stock Exchange and now planned to build a new financial services business in Africa.

Commonwealth Bank of Australia has sold out of Kiwi Income Property Trust at a 3.6 per cent discount to where the units were trading just before yesterday's placement, raising $92.2 million.

The U.S. Securities and Exchange Commission asked a federal judge to order former Goldman Sachs Group Inc vice president Fabrice Tourre to pay more than $1.1 million for his role in a failed 2007 mortgage deal, according to a court document filed Monday in Manhattan federal court.

Thunderclouds were gathering in April when James Gorman, Morgan Stanley's chief executive, went for a run on the beach on Amelia Island in Florida after attending a closed-door meeting of the bank's top stockbrokers.

Herbalife Ltd on Monday said a new audit yielded no changes to its financial statements, sending its shares up by more than 9 percent and dealing a blow to hedge fund manager William Ackman, who is betting against the stock.

The U.S. government could reduce its support for high-cost mortgages as soon as October of next year, a top regulator said on Monday in a statement that amounted to a show of confidence in the housing recovery.

Global investment firm Kohlberg Kravis Roberts & Co. L.P. says it plans to acquire KKR Financial Holdings LLC in an all-stock agreement that values the specialty finance company at $2.6 billion.

Constellation Software Inc. will pay the equivalent of about C$350 million to acquire Total Specific Solutions BV, a Dutch software company with about 1,400 employees.

Twin River Worldwide Holdings of Lincoln, R.I., made the announcement Sunday. The company also owns Twin River Casino in Lincoln.

At the end of November, the world's largest money manager lifted its combined holding in the phone company to 10.1 percent from the 5.1 percent it held in October, according to filings it made to the U.S. Securities and Exchange Commission .