By SUSANNE CRAIG John Thain figured seven months ago that he was just one rung down the corporate ladder from becoming chief executive of the largest consumer bank in the US Now, he is trying to climb back from the professional disaster that followed.
By Gavin Evans and Christian Schmollinger April 27 (Bloomberg) — Crude oil fell, snapping four days of gains, on concern the US economy will keep shrinking, worsening an oversupply.
TOKYO, April 27 (Reuters) – The benchmark Nikkei average dipped 0.5 percent and the broader TOPIX dropped 0.1 percent on Monday. Shares of Nippon Yusen, Japan’s biggest ocean shipping company, slid 4.1 percent to 422 yen after the firm more than halved …
WASHINGTON — Sounding slightly less terrified than they have at any time in the last six months, finance ministers from the United States and other wealthy nations said Friday that they saw “signs of stabilization” in the global economic crisis.
By Peter A. McKay and Rob Curran A round of better-than-expected earnings reports pushed stocks higher ahead of the government’s criteria for its stress test, expected at 2 pm EDT.
By MARSHALL ECKBLAD and DAVID ENRICH – Wall Street analysts and investors say banks with large portfolios of commercial real-estate loans, especially in recession-battered regions like the Midwest and Southeast, are most likely to find themselves in the crosshairs as a result of the stress tests being finalized by federal regulators.
Four regional banks fail Friday, setting the FDIC back nearly $700 million and bringing the annual total up to 29. By Catherine Clifford, CNNMoney.
By David Bailey and John Crawley DETROIT/WASHINGTON (Reuters) – Chrysler’s lenders and a Canadian union continued talks on Friday with less than a week to a US government deadline to cut deals, as General Motors (GM.
Regulators’ faith that the housing market will stabilize soon enough to ease the pressure on banks could be tested. By Colin Barr, senior writer Regulators such as FDIC chief Sheila Bair are banking on a slowdown in economic deterioration.
By TIM ARANGO The News Corporation, the media conglomerate controlled by Rupert Murdoch, has named Owen Van Natta, a former Facebook executive, to become chief executive of MySpace.