After banks make an offer, Treasury will decide whether to make a counteroffer, subject to a private appraisal if the two sides cannot agree on a fair price.
Investors are nervous about the savings rate outpacing spending.
Former American International Group Inc. Chairman Martin Sullivan misled Congress last year when he told lawmakers AIG’s financial problems were caused by fair-value accounting standards, the chairman of the Financial Accounting Standards Board said today.
The Hartford (Conn.) Financial Services Group Inc. yesterday said that it has closed its deal to purchase Federal Trust Corp. for $10 million.
An unexpected rise in jobless claims is causing investors to sell again.
President Obama’s proposed financial regulations could tighten restrictions on insurance companies and pressure the companies’ ratings, according to a new report from Moody’s Investors Service.
Equity markets in the United States will wind up posting double-digit percentage gains this year, according to Robert Doll, the vice chairman and chief investment officer of New York-based BlackRock Inc.
Federated Investors Inc. entered into a partnership with a London-based specialty asset management firm to bring global-trade-finance investments to its clients in the United States.
Antigua's former chief financial regulator surrendered Thursday to face U.S. charges that he aided an alleged $7 billion swindle by Texas billionaire R. Allen Stanford, government officials said.
The Investment Company Institute blistered a House bill under consideration that would require detailed 401(k) plan fee disclosures and require plan administrators to offer a least one low-cost index fund to plan participants.
