Financial Service News

Dubai's debt crisis rattled world financial markets Friday, raising concerns that some banks could further tighten lending and hamper the global economic recovery.

Canwest Global Communications struck back at Wall Street titan Goldman Sachs Wednesday, telling a court that a move to dissolve its joint specialty-TV venture prior to its creditor-protection filing was the only way to prevent a forced sale of the media company's most profitable assets.

FDIC: Nevada-based banks lost money in 3rd quarter LAS VEGAS - Federal regulators say banks with Nevada charters continued to struggle in the third quarter.

General Electric Co. may be closer to selling control of NBC Universal to Comcast Corp.

Nov. 26 -- John Purcell, managing director of executive search firm Purcell & Company, talks with Bloomberg's Mark Barton about changes to U.K. bank bonus rules proposed by David Walker in a government-commissioned report.

It's one Forbes list where none would want to figure, but Ramalinga Raju, the founder-chairman Satyam Computers , has managed the feat of being among the world's 10 most outrageous CEOs.

Tower Australia full-year profit declined by 32 per cent as the life insurer's investments were hit by volatile markets and a higher amortisations charge.

The estimated $3.5 billion remaining assets of the Reserve Primary Fund should be distributed on a prorated basis to shareholders, a federal judge ruled on Wednesday in response to lawsuits filed after the fund's value dropped below $1 a share in September 2008.

Bank of America is having such a hard time finding a new CEO that some analysts are wondering if Ken Lewis might have to stay past his planned Dec.

The two sued for breach of contract. Deutsche Bank said Bank of America failed to secure $1.25 billion in cash and mortgage loans on its behalf.

Nov. 25 -- Dennis Stattman, a fund manager for BlackRock Inc., talks with Bloomberg's Margaret Brennan about his investing strategy for emerging markets, particularly Asia.

Bank of Ireland does not foresee the need for further state bailouts according to the restructuring plan submitted to the European Union, though it said the state would remain a substantial owner.

The Federal Reserve on Wednesday tightened the conflict of interest restrictions governing the boards of directors of its 12 regional banks.

An "evil" US con man who portrayed himself as a "Hanoi Hilton" prisoner of war survivor to scam victims in New Zealand, Australia and the US out of almost US$4 million has been jailed.

The economy is growing modestly, with consumers too wary about spending to invigorate the recovery.

In this April 16, 2009 file photo, a sign at the Citigroup Center is shown in New York.

Nov. 24 -- Jason Tyler, senior vice president of portfolio management at Ariel Investments LLC, talks with Bloomberg's Peter Cook about Federal Deposit Insurance Corp.

Emergency loans to Royal Bank of Scotland and HBOS peaked at 61.6 billion at the height of the financial crisis, the Bank of England has said.

The government agency that backs bank deposits announced today that the recent flood of bank failures plunged the insurance fund into the red in late September and more banks are now on the brink of collapse than at any point in the last 16 years.

After more than a year of searching for an acquisition, People's United Financial has pulled the trigger on a deal.