Financial Service News

A group of investment firms including Citadel Securities LLC sued the Chicago Board Options Exchange Inc and four other exchanges on Wednesday for improper charges on millions of options trades over a seven-year period.

Morgan Stanley has shaken up its once-powerful fixed-income department, announcing in an internal memo on Wednesday that Kenneth deRegt, the executive in charge of the business, is retiring.

U.S. stocks fell, with benchmark indexes retreating from record highs, as concern grew that the Federal Reserve will scale back its stimulus efforts if the labor market continues to improve.

Financial Institutions, announced a quarterly dividend on Wednesday, May 22nd, AnalystRatingsNetwork.com reports.

Jeff Immelt, Chairman and CEO of General Electric, left. The company is considering spinning off parts of its finance unit through an initial public offering as Immelt works to shrink the business.

Undeterred by record-high housing prices and bolstered by low borrowing costs, nearly half of Canadian home owners plan to buy a property in the next five years, although intentions vary sharply from city to city, a poll released Wednesday has found.

Dow component Hewlett-Packard Co. and Target Corp. are among the high-profile companies reporting quarterly results on Wednesday.

Merck & Co Inc. said it will repurchase $5 billion worth of its common stock under an accelerated share repurchase agreement with Goldman Sachs & Co.

The manager of Broadspire, a division of Crawford & Company that handles workers' compensation claims, reported a grand theft of tens of thousands of dollars.

Reassuring comments from a Federal Reserve official and better earnings from two big retailers helped push the stock market higher Tuesday.

Ocean Bank said Tuesday that Juan del Busto, the former regional executive of The Federal Reserve Bank of Atlanta's Miami branch and current chairman of Del Busto Capital Partners, has joined Ocean Bank's board of directors.

The Community Harvest Food Bank of Northeast Indiana has announced ways that our community can help out with the Oklahoma Tornado relief efforts.

Flash Flood Watch expires at 7:00 PM on 5/21, issued at 9:29 AM Kiamichi Christian Mission, OK A lawyer for a former board member at Goldman Sachs and Procter & Gamble Co., who was convicted on insider trading charges, has told an appeals court that his client deserves a new trial.

PLC said Monday that John Thornton, a director who played a pivotal role in a 2010 power struggle at the bank, will step down this month to spend more time on other business interests.

With the White House already reeling from three major controversies, some Republican lawmakers are zeroing in on what they perceive is another possible scandal tied to President Barack Obama's landmark health reform law just as it nears implementation.

"In the span of an hour they had gotten into the house through the roof and gone through all of our rooms," says CIT Group managing director Kevin Khanna, whose villa was robbed Monday.

Wells Fargo & Co. , JPMorgan Chase & Co. and Citigroup Inc. have nearly halted foreclosure sales after federal regulators revised orders on how the troubled borrowers were to be treated before losing their homes.

A SENIOR manager at Lloyds fears staff who don't take up roles 50 miles away from Southend will lose their redundancy payments.

A large fire that broke out in the hotel Astir in the western port of Patra on Tuesday was brought under control by a unit of 30 firefighters manning 10 fire engines.

From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.