Financial Service News

Their comments suggested that the Fed's low-interest-rate policies will continue if they win confirmation.

General Electric is moving ahead with plans to spin off its North American consumer lending unit, saying that it will complete an initial public offering for the business later this year.

King Digital Entertainment Plc , best known for the hit mobile phone game Candy Crush Saga , said it expects to price its U.S. initial public offering at between $21 and $24 per share, valuing the company's equity at about $7.56 billion.

Citigroup Inc, which recently discovered it made some $400 million in fraudulent loans to a company in Mexico, found three other sets of smaller loans that may be suspicious, the bank's chief financial officer told a group of investors last week.

A once high-flying Goldman Sachs trader dubbed "Fabulous Fab" was ordered Wednesday to pay more than $825,000 in one of the prominent cases stemming from the mortgage meltdown that helped spark the Great Recession.

Federal prosecutors say a New York-based investment bank and broker-dealer has agreed to pay $25 million in penalties for misleading customers trading in residential mortgage-backed securities.

The average bonus per employee in New York City's financial services industry grew by 15% to over $164,000 last year, according to a report from New York State Comptroller Thomas DiNapoli released Wednesday.

But most people who are aware of the penalty think it's pretty small, at least for this first year.

Hoping to connect with its customers beyond debits and credits, Wells Fargo & Co.

Ballard Power Systems Inc. . Industrial products. Down $1.98, or 25.95 per cent, to $5.65 on 9.9 million shares.

Ontario's top securities regulator is making changes to its enforcement policies, including allowing some of those accused of wrongdoing to plead no contest and pay a fine.

Puerto Rico sold $3.5 billion in general obligation bonds on Tuesday in the largest issue of its kind for the U.S. territory, which is struggling to pay off $70 billion in public debt.

Sacramento's eminent domain lawsuit against the owners of a former Macy's department store downtown will be tried in the city.

Japan's SoftBank Corp is still trying to buy T-Mobile US Inc and merge it with its U.S. wireless carrier Sprint Corp, SoftBank CEO Masayoshi Son said, even though U.S. regulators appear set against a deal.

European ministers haggled over how to build a safety net for failing banks on Tuesday, redoubling efforts to avoid an embarrassing delay to the euro zone's centrepiece crisis reform.

General Electric Co. 's chief said on Monday that there are signs the U.S. economy "is getting a little better each day," although he does not expect a return to the kind of growth seen in the 1990s anytime soon.

General Motors Co. hired Jenner & Block LLP Chairman Anton Valukas, who served as a U.S. Justice Department-appointed examiner of the downfall of Lehman Brothers Holdings Inc., to help lead an internal probe of an ignition- switch failure tied to at least 13 deaths.

The activist lawyer wants the digital currency bitcoin accepted as campaign contributions.

The maker of the Play:1 speaker and other home audio devices said Monday that it decided to make the information public to give some context around the size of its business and its growth.

A Delaware judge said Royal Bank of Canada should be held liable to former shareholders of Rural/Metro Corp because it failed to disclose conflicts of interest that tainted the $438 million buyout of the ambulance operator.