Federal banking regulators knew as far back as 2002 about problems at First National Bank Holding Co.’s banks in Arizona, California and Nevada but failed to act until shortly before their demise last year, auditors said today.
Though advisers’ outlook of the economy over the next six months may be bleak, there is indeed a silver lining, according to a survey from The Charles Schwab Corp. of San Francisco.
With large pharmaceutical companies sitting on extra cash and billions, a flurry of mergers in the biotechnology sector is likely this year, analysts say.
Even the rich are gloomy about the economy, according to Chicago-based Spectrem Group’s Millionaire Investor Index, which fell 13 points in February.
Thinkorswim Group Inc., an online brokerage and investor education service provider which is being acquired by TD Ameritrade, said Wednesday its fourth-quarter profit fell 46 percent due to a decline in interest and education revenue and special charges.
A proposal in President Obama’s budget to lower the tax deduction amounts for wealthy donors has charities concerned that it may reduce giving.
The U.S. lost an estimated 778,000 jobs in February, marking the biggest one-month loss of the recession so far.
The Obama administration is kicking off a new program designed to help up to 9 million borrowers stay in their homes through refinanced mortgages or loans that are modified to lower monthly payments.
UBS AG official on Wednesday will face questions from a Senate panel for the first time since the bank acknowledged helping tens of thousands of American clients hide assets from the U.S. government.
