Financial Service News

Jeff Zucker Inexplicably To Lead Comcast/NBC Venture Nov. 11, 2009, 1:00 PM 309 Jeff Zucker is a lucky man.

The head of the Federal Deposit Insurance Corp. said Tuesday she's "very worried" that the nation's biggest banks aren't lending enough and warned the economy could take another turn for the worse without increased access to credit.

American Express Co. said Tuesday that spending on its credit cards increased in October for the first time this year, an encouraging sign that consumers may be feeling more confident about the economy.

In this Oct. 14, 2009, file photo, former Bear Stearns hedge fund manager Matthew Tannin enters Brooklyn federal court in New York.

The Federal Agricultural Mortgage Corporation reported third quarter earnings of a dollar 74 per share, up from its loss in Q3 of 2008 of ten dollars and 55 cents per share.

The European Commission has objected to Oracle Corp's acquisition of computer maker Sun Microsystems Inc, throwing the $7 billion deal into question.

Unemployment likely will remain high for the next several years because the economic recovery won't be strong enough to spur robust hiring, Federal Reserve officials warned Tuesday.

Barclays bank has reported A 4.5bn in pre-tax profits for the last nine months. Bankers at Barclays are set to enjoy large bonuses this year Strong peformance from the bank's investment sector led to the large profit.

Bank of America Corp. said Monday that it extended nearly $184 billion in credit during the third quarter, as households and communities remain under financial strain.

T. Rowe Price will buy a 26 percent stake in UTI Asset Management Co. Ltd . and UTI Trustee Co.

Fannie Mae is evaluating whether it will have to write down the value of its low-income housing tax credits after the U.S. Treasury Department rejected a plan to sell them, the mortgage-finance company said today.

Nov. 9 -- Bloomberg's Sara Eisen reports on the outlook for the euro. A decade after the euro replaced the deutsche mark, Germany's export-driven recovery is undermining European Central Bank President Jean-Claude Trichet's efforts to slow the currency's record rise.

General Electric Co. and Comcast Corp. have agreed on a $30 billion valuation of NBC Universal , according to a Reuters report.

One in ten Scots say they are planning to apply for more credit over the next three months despite the ongoing recession, according to research.

Northrop Grumman said Sunday it agreed to sell its advisory services business TASC Inc.

ASB performed well in the first quarter but operating conditions remain difficult in New Zealand, parent Commonwealth Bank of Australia said today.

SOUTH Korea's state-funded KDB Financial Group Inc is seeking to buy Southeast Asian banks, instead of merging with Korea Exchange Bank , as the market expected, the group's chief said on Sunday.

Lloyd Blankfein, the chairman and chief executive, of Goldman Sachs, has claimed that bankers do "God's work". Lloyd Blankfein, chairman and chief executive officer of Goldman Sachs Photo: BLOOMBERG Mr Blankfein , the son of a Brooklyn postal worker, believes that banks serve a "social purpose" and argues that the return of big profits and bonuses ...

Even as Washington tries to rein in Wall Street pay, bankers are likely to make unusually large gains on the stock grants and options they received after shares in their companies fell sharply during the financial meltdown, The New York Times's Louise Story reports.

Gateway Bank of St. Louis, St. Louis, Missouri, was closed Friday by the Missouri Division of Finance, which appointed the Federal Deposit Insurance Corporation as receiver.