Dec 14, 2012 The Swiss banking giant UBS is reportedly headed for a $1 billion settlement over accusations it rigged LIBOR interest rates -- the benchmark for global lending.
Dec 13, 2012 European finance ministers struck a major new deal over their debt crisis. They agreed that the European Central Bank -- Europe’s equivalent of the Fed -- should take over the supervision of the continent’s biggest banks.
Dec 5, 2012 This morning Citi says that total is about to shrink -- 11,000 job cuts worldwide in the next year or two, some of them at least here in the U.S.
Nov 28, 2012 All the talk these days is about the likelihood of the U.S. Congress avoiding a fiscal cliff. You know who’s not worried? Warren Buffett. Plus, his views on the next Treasury Secretary, Oreos for breakfast, and taxing the rich.
Oct 12, 2012 The financial sector is doing better than last year on a bumper mortgage business and lower loan-loss reserves.
Oct 11, 2012 Hit by new regulations and low interest rates, banks are likely to dip into reserves for bad loans again to boost third-quarter profits.
Aug 27, 2012 Vietnam has been on a roller coaster ride for a week. The turmoil was caused by one banker arrested for financial crimes.
Aug 17, 2012 Credit unions used to be a banking oasis free from fees. But slowly, credit unions are starting to charge for checking accounts and raising minimums to avoid fees.
Aug 20, 2012 An LAPD police officer gives a tour of his precinct in Watts and the blight foreclosed homes have wrought upon the neighborhood. The City of Los Angeles says the banks who own the homes should be responsible for the upkeep of the foreclosures.