Articles tagged with financial
Mon, May 21, 2012
Record California school districts in "financial jeopardy"
SAN FRANCISCO (Reuters) - A record 188 school districts in California are in "financial jeopardy," the office of the state's top schools official said ...
Fri, May 18, 2012
World leaders back Greece, vow to combat financial turmoil
By Jeff Mason and Laura MacInnis
CAMP DAVID, Maryland (Reuters) - World leaders backed keeping Greece in the euro zone on Saturday and vowed to ...
Thu, May 17, 2012
Fraud charges for former financial advisory chief
By Alexandra Alper
WASHINGTON (Reuters) - A federal grand jury indicted a former chairman of a national financial planning association with fraud on Thursday for ...
Thu, May 17, 2012
Duluth Financial Officer Returns To Advanstar
DULUTH, MN (KDAL) - City of Duluth Chief Financial Officer, Adele Hartwick, will be leaving her city post to rejoin Advanstar Communications. Hartwick will lead ...
Mon, May 14, 2012
Italy watchdog attacks risky financial products
MILAN (Reuters) - Authorities must regulate and even ban financial products that can wipe out people's savings, the head of Italian market watchdog Consob ...
Sun, May 13, 2012
Ally aims to end mortgage woes with ResCap filing
By Rick Rothacker and Paritosh Bansal
(Reuters) - Ally Financial Inc's mortgage unit filed for bankruptcy protection on Monday, and the former in-house financing ...
Sun, May 06, 2012
Ally nears bankruptcy deal with ResCap creditors: source
(Reuters) - Ally Financial and creditors of the lender's Residential Capital unit are in general agreement on a plan to put the mortgage subsidiary ...
Fri, May 04, 2012
Iowa man convicted in bomb plot targeting financial firms
By James B. Kelleher
CHICAGO (Reuters) - An Iowa man was convicted on Friday of mailing pipe bombs and threatening letters to investment companies in ...
Tue, May 01, 2012
The Avengers Fight Financial Trouble
By Margaret Hartmann, Hollywood.com Staff
When seeking financial advice, most people would steer clear of the dude walking the street in a unitard ...
Mon, April 30, 2012
The Avengers Fight Financial Trouble
By Margaret Hartmann, Hollywood.com Staff
When seeking financial advice, most people would steer clear of the dude walking the street in a unitard ...
Mon, April 30, 2012
Loews beats estimates on CNA Financial income
(Reuters) - Hotels, energy and financial services conglomerate Loews Corp
Fri, April 27, 2012
U.S. adds muscle to financial fraud investigations
By Aruna Viswanatha
WASHINGTON (Reuters) - An Obama administration task force probing misconduct that fueled the financial crisis is increasing its ranks, adding five financial ...
Thu, April 26, 2012
Countrywide whistleblower sees no change in financial sector
By Emily Flitter
WASHINGTON (Reuters) - Eileen Foster beamed as she accepted an award at the National Press Club in Washington for blowing the whistle ...
Wed, April 25, 2012
Financial crises caused by "stupidity and greed": Geithner
PORTLAND, Oregon (Reuters) - Treasury Secretary Timothy Geithner sought on Wednesday to reassure Americans that the Obama administration was doing what it could to rout ...
Wed, April 25, 2012
Referendum ruling clouds Detroit's financial fix
By Karen Pierog
(Reuters) - Part of Detroit's recent deal to mend its shattered finances could be threatened if Michigan officials on Thursday rule ...
Sun, April 22, 2012
Aldar says no financial help needed from Abu Dhabi
By Praveen Menon and Stanley Carvalho
ABU DHABI (Reuters) - Abu Dhabi's Aldar Properties
Tue, April 17, 2012
Analysis: Financial corset to rule France, whoever wins poll
By Leigh Thomas
PARIS (Reuters) - While French President Nicholas Sarkozy paints Socialist challenger Francois Hollande as a threat to the stable euro and France ...
Fri, April 13, 2012
U.S. sees long-term profit on financial rescue
WASHINGTON (Reuters) - The U.S. Treasury Department said on Friday that the many programs that it, the Federal Reserve and banking authorities implemented during ...
Fri, April 13, 2012
Google CEO says Android important, not critical
By Dan Levine and Alexei Oreskovic
SAN FRANCISCO (Reuters) - The Android smartphone operating system is a very important asset for Google Inc, but it ...
Thu, April 12, 2012
U.S. tests rare legal path in financial crisis cases
By Aruna Viswanatha
WASHINGTON (Reuters) - An Obama administration task force established to investigate misconduct that fueled the financial crisis is turning to a little-used ...
Thu, April 12, 2012
Novelty grenade prompts bomb scare near New York's 'Ground Zero'
NEW YORK (Reuters) - A novelty hand grenade briefly prompted the evacuation of one of the buildings near "Ground Zero," the site where New York ...
Wed, April 11, 2012
Lincoln Financial must pay $2 million to defamed broker
By Suzanne Barlyn
(Reuters) - Lincoln Financial Advisors Corp must pay $2 million to a broker who alleged the company fired and then defamed him ...
Wed, April 11, 2012
Lincoln Financial must pay $2 million to defamed broker
By Suzanne Barlyn
(Reuters) - Lincoln Financial Advisors Corp must pay $2 million to a broker who alleged the company fired and then defamed him ...
Mon, April 09, 2012
Bernanke says banks need bigger capital buffer
By Pedro Nicolaci da Costa
STONE MOUNTAIN, Georgia (Reuters) - Federal Reserve Chairman Ben Bernanke said on Monday banks need to have more capital at ...
Fri, April 06, 2012
Treasury freezes pay for CEOs at Ally Financial, GM, AIG
WASHINGTON (Reuters) - The chief executives of General Motors , AIG, and Ally Financial had their 2012 compensation packages frozen for a second year in a ...
Wed, April 04, 2012
Treasury: Regions Financial repays TARP funds
WASHINGTON (Reuters) - Regions Financial Corp
Wed, April 04, 2012
Treasury says Regions Financial repays TARP funds
WASHINGTON (Reuters) - Regions Financial Corp
Tue, April 03, 2012
Moody's downgrades GE, citing GE Capital risks
(Reuters) - Moody's on Tuesday downgraded the ratings of conglomerate General Electric Co
Mon, April 02, 2012
Japan's Olympus promotes Nambu to top financial role
TOKYO/LONDON (Reuters) - Japan's scandal-hit Olympus Corp <7733.T> has promoted Akihiro Nambu to its top financial role just months after some of the firm ...
Mon, April 02, 2012
Bitcoin, the financial traders' anarchic new toy
By Naomi O'Leary
LONDON (Reuters) - Financial traders have a new toy: Bitcoin, a digital currency variously dismissed as a Ponzi scheme or lauded ...
Tue, March 27, 2012
The Avengers Fight Financial Trouble
When seeking financial advice, most people would steer clear of the dude walking the street in a unitard with a can of silly string ...
Tue, March 27, 2012
The Avengers Fight Financial Trouble
When seeking financial advice, most people would steer clear of the dude walking the street in a unitard with a can of silly string ...
Mon, March 26, 2012
The Avengers Fight Financial Trouble
When seeking financial advice, most people would steer clear of the dude walking the street in a unitard with a can of silly string ...
Fri, March 23, 2012
Detroit mayor still in hospital as city financial deadline nears
DETROIT (Reuters) - Detroit Mayor Dave Bing was diagnosed with inflammation of the intestine and will remain at a hospital for further observation, just days ...
Fri, March 16, 2012
Analysis: Bank stress tests highlight Ally Financial's challenges
By Soyoung Kim and Rick Rothacker
NEW YORK/CHARLOTTE, N.C (Reuters) - In stress test results released this week, Ally Financial Inc fared by ...
Thu, March 15, 2012
VW Financial Services sees flat profits in 2012-2013
FRANKFURT, MARCH 15 - Volkswagen's
"Assuming ...
Thu, February 09, 2012
Europe needs stronger financial firewall: Obama
WASHINGTON (Reuters) - President Barack Obama assured Italian Prime Minister Mario Monti on Thursday that the United States will do whatever it can to help ...
Wed, February 01, 2012
Analysis: Financial titans rally to Romney's cause
By Samuel P. Jacobs and Alina Selyukh
WASHINGTON (Reuters) - Whenever Republican U.S. presidential candidate Mitt Romney has been down and in need of ...
Mon, January 30, 2012
Illinois facing "financial disaster": watchdog
By Karen Pierog
CHICAGO (Reuters) - Illinois could see its pile of overdue bills climb to an unprecedented $35 billion in five years if the ...
Fri, January 27, 2012
Subpoenas issued to financial firms in expanded probe
By Aruna Viswanatha and James Vicini
WASHINGTON (Reuters) - The Justice Department issued civil subpoenas to 11 financial institutions as part of a new effort ...
Fri, January 27, 2012
Assets on tax forms missing on Romney financial disclosures
By Mark Hosenball and Lynnley Browning
(Reuters) - A handful of financial holdings reported by U.S. Republican presidential hopeful Mitt Romney on his tax ...
Wed, January 25, 2012
Geithner denies U.S. hostility to banks
By Rick Rothacker and Rachelle Younglai
CHARLOTTE, North Carolina (Reuters) - Treasury Secretary Timothy Geithner sought to calm fears that the Obama administration's bank ...
Mon, January 23, 2012
U.S. tightens grip on Iran's financial system
By Rachelle Younglai
WASHINGTON (Reuters) - The United States on Monday sought to tighten the financial screws on Iran by imposing sanctions on the country ...
Thu, January 19, 2012
San Francisco protesters target financial district
By Laird Harrison
SAN FRANCISCO (Reuters) - Weeks after their eviction from several area encampments, anti-Wall Street activists in San Francisco, including a former Pacific ...
Thu, January 19, 2012
San Francisco protesters target financial district on Friday
By Laird Harrison
SAN FRANCISCO (Reuters) - Weeks after their eviction from several area encampments, anti-Wall Street activists in San Francisco, including a former Pacific ...
Wed, January 18, 2012
In MF Global, JPMorgan again at center of a financial failure
By Carrick Mollenkamp, Lauren Tara LaCapra and Matthew Goldstein
(Reuters) - In late October, as MF Global Holdings Ltd teetered toward bankruptcy, Jon Corzine phoned ...
Fri, January 13, 2012
BofA mulling retreat if financial problems worsen: report
(Reuters) - Bank of America Corp
Sat, January 07, 2012
World Bank to recommend China financial reforms
By Mark Felsenthal
CHICAGO (Reuters) - The World Bank will recommend reforms to China's domestic financial system as part of broader proposals to help ...
Wed, January 04, 2012
Cordray says politics won't distract consumer cop
By Dave Clarke
WASHINGTON (Reuters) - In his first full day as chief of the Consumer Financial Protection Bureau, Richard Cordray sought to lower the ...
Fri, December 30, 2011
Financial dispute delays 9/11 museum opening
By Jonathan Allen
NEW YORK (Reuters) - The National September 11 Memorial Museum in New York will not be ready in time for its planned ...
Thu, December 29, 2011
Financial market credit tightened at year end: Fed
By Pedro Nicolaci da Costa
WASHINGTON (Reuters) - Banks tightened the screws on lending to major financial market participants in recent months, the U.S ...
Tue, December 27, 2011
Carlyle launches new financial firms buyout fund
By Greg Roumeliotis and Paritosh Bansal
(Reuters) - The Carlyle Group
Thu, December 22, 2011
ESRB's warns financial stresses have worsened
By Marc Jones and Eva Kuehnen
FRANKFURT (Reuters) - The dangers facing Europe's financial system have continued to worsen, Europe's recently created super-watchdog ...
Thu, December 22, 2011
Stern Advice: Watch for that mutual fund pop
By Linda Stern
WASHINGTON (Reuters) - Next month, something very dramatic is going to happen to most stock mutual funds. In fact, it's already ...
Tue, December 20, 2011
Financial advisers see social media benefits decline: survey
By Ashley Lau
(Reuters) - Financial advisers in the United States are seeing fewer benefits from their use of social media, a survey by Aite ...
Sat, December 17, 2011
Senate delays decisions on Obama financial nominees
WASHINGTON (Reuters) - Senate on Saturday postponed until next year decisions on whether to approve President Barack Obama's choices to lead agencies that oversee ...
Fri, December 16, 2011
Obama taps Berner for new Financial Research job
By Sarah N. Lynch
WASHINGTON - Dick Berner, an official at the U.S. Treasury Department and former Morgan Stanley chief economist, has been nominated ...
Wed, December 07, 2011
Paris, Berlin seek action on company, financial tax
PARIS (Reuters) - France and Germany want a new EU framework to speed up progress towards a common corporate tax base and a financial transaction ...
Sun, December 04, 2011
Obama plans media blitz for financial watchdog
By Caren Bohan and Dave Clarke
WASHINGTON (Reuters) - President Barack Obama will begin a media campaign this week to seek support for his nomination ...
Wed, November 30, 2011
Olympus ex-CEO campaigns to oust board
By Paritosh Bansal and Tim Kelly
NEW YORK/TOKYO (Reuters) - The former chief executive of disgraced Olympus Corp, Michael Woodford, launched a campaign on ...
Fri, November 18, 2011
When financial fraud meets facial recognition, the jig may be up
By Mitch Lipka
(Reuters) - Chip McBreen, who leads fraud prevention and security at Members 1st Credit Union in Pennsylvania, has become a believer in ...
Thu, October 13, 2011
Startup helps extract dental visit's financial pain
By Deborah L. Cohen
CHICAGO (Reuters) - Jake Winebaum is betting on a Web-based solution to take the hassle and price worry out of a ...
Thu, October 13, 2011
Startup helps extract financial pain of dental visits
By Deborah L. Cohen
CHICAGO (Reuters) - Jake Winebaum is betting on a Web-based solution to take the hassle and price worry out of a ...
Mon, October 10, 2011
Thousands in Chicago protest financial industry
By Mary Wisniewski and Ann Saphir
CHICAGO (Reuters) - Thousands of people including teachers, religious leaders and union workers marched in downtown Chicago on Monday ...
Sun, October 09, 2011
Cameron wants' safeguards' for UK financial services: FT
LONDON (Reuters) - British Prime Minister David Cameron has called for "safeguards" to prevent France and other eurozone countries from distorting the EU's single ...
Fri, October 07, 2011
Late financial reports dog U.S. localities: report
By Lisa Lambert
WASHINGTON (Reuters) - States, cities, counties and others who sell debt in the $3.7 trillion U.S. municipal bond market continue ...
Thu, October 06, 2011
Highlights: Geithner testifies on financial stability to House
WASHINGTON (Reuters) - The following are highlights from a House Financial Services Committee hearing on Thursday with U.S. Treasury Secretary Timothy Geithner testifying on ...
Tue, October 04, 2011
Iran cinemas threaten to close over financial woe
By Ramin Mostafavi
TEHRAN (Reuters) - Iran's cinema owners have threatened to close their movie houses to protest against costs that have soared since ...
Wed, September 28, 2011
GM sees 'minimal' financial impact from UAW deal
DETROIT (Reuters) - General Motors Co expects its newly ratified contract with the United Auto Workers union will cost $215 million between 2011 and 2013 ...
Wed, September 28, 2011
Obama says Europe has not fixed financial system
WASHINGTON (Reuters) - European nations have not done enough to fix weaknesses in their financial sector, President Barack Obama said on Wednesday, keeping pressure on ...
Sat, September 24, 2011
Highlights: Financial leaders meeting in Washington
WASHINGTON (Reuters) - The following are highlights of comments by finance ministers and central bankers in Washington this weekend for meetings of the Group of ...
Fri, September 23, 2011
Bill Gates backs Tobin tax, G20 unconvinced
By Lesley Wroughton and Daniel Flynn
WASHINGTON (Reuters) - Microsoft founder Bill Gates on Friday backed a controversial financial transactions tax to aid development in ...
Thu, September 22, 2011
Instant view: G20 pledges financial stability but few signs of
Finance officials from the Group of 20 nations on Thursday pledged to preserve financial stability and said central banks were ready to provide liquidity ...
Wed, September 21, 2011
U.S. sees challenges in some financial cases
By Andrea Shalal-Esa
WASHINGTON (Reuters) - The government is continuing an aggressive drive to hold accountable those responsible for the 2007-2009 financial crisis, but prosecutors ...
Mon, September 19, 2011
Siemens moved deposits from French bank to EC: Financial Times
(Reuters) - Siemens
Tue, September 13, 2011
GE to buy back Buffett's financial crisis stake
(Reuters) - General Electric Co
Mon, September 12, 2011
How parents of multiples tackle financial challenges
By Marla Brill
NEW YORK (Reuters Money) - Kevin O'Reilly spends his life dispensing financial planning advice. But he wasn't exactly fiscally prepared ...
Fri, September 09, 2011
Financial incentives for doctors don't always help
By Genevra Pittman
NEW YORK (Reuters Health) - Health systems haven't figured out how best to structure financial incentives to encourage primary care doctors ...
Tue, September 06, 2011
Regulator defends suit against financial firms
WASHINGTON (Reuters) - The Federal Housing Finance Agency said on Tuesday it decided to file lawsuits against 17 financial institutions last week because the firms ...
Mon, September 05, 2011
HK's schooling woes dim city's role as financial hub
By Lisa Yuriko Thomas and James Pomfret
HONG KONG (Reuters) - As global companies expand in Asia, financial hubs such as Hong Kong are suffering ...
Fri, September 02, 2011
Senate panel to vote on 7 SEC, financial nominees
WASHINGTON (Reuters) - The Senate Banking Committee on Friday said it will vote next week on the nominations of seven individuals for senior federal regulatory ...
Fri, September 02, 2011
Gibson irons out financial details of custody settlement
The Braveheart star and Grigorieva finally reached a custody agreement over their one-year-old daughter Lucia last week (26Aug11) and the two met again in ...
Wed, August 31, 2011
Financial Times pulls its apps from Apple store
LONDON (Reuters) - The Financial Times has pulled its iPad and iPhone apps from Apple's App Store after losing a battle to keep control ...
Wed, August 31, 2011
Financial Times pulls its apps from Apple store
LONDON (Reuters) - The Financial Times has pulled its iPad and iPhone apps from Apple's App Store after losing a battle to keep control ...
Mon, August 29, 2011
Airlines restart after Irene, face financial hit
By John Crawley and Karen Jacobs
WASHINGTON/ATLANTA (Reuters) - U.S. airlines scrambled to put their operations back together in the U.S. Northeast ...
Sun, August 28, 2011
France eyes financial transaction tax deal at G20
PARIS (Reuters) - France wants concrete results for a controversial international tax on financial transactions at November's G20 summit of leading economies, Finance Minister ...
Wed, August 17, 2011
U.S. probes S&P, Moody's over financial crisis: sources
WASHINGTON (Reuters) - The U.S. Justice Department is investigating the rating agency Standard & Poor's over its actions on mortgages leading up to the financial crisis, a source familiar with the matter said on Thursday.
The investigation -- which the source said relates to what S&P analysts wanted to do and what they were told to do instead -- began before the ratings firm, downgraded the long-term U.S. debt to AA-plus from a AAA rating this month.
The probe is being led by the Justice Department's civil division, the source said, declining to be further identified because the investigation is ongoing and not public.
The Justice Department has also been investigating the rating firm Moody's in connection with the ratings of structured products during the financial crisis, a source familiar with that matter told Reuters.
Michael Adler, a spokesman for Moody's, did not immediately return a phone call and email message seeking comment.
The Securities and Exchange Commission has also been probing S&P, a unit of McGraw-Hill, over its role in the crisis, the first source said.
Representatives for the Justice Department and SEC declined to comment.
Confirmation of the probes come after the New York Times reported that the S&P investigation centers on whether the company improperly rated dozens of mortgage securities in the years before the financial crisis that unfolded in 2008.
The department has been asking about instances in which S&P analysts wanted to assign lower ratings to mortgage bonds but may have been overruled by S&P business managers, the newspaper reported.
Ed Sweeney, a spokesman for S&P, said that its core principles had included "analytic independence and objectivity" and that since 2008 the firm had taken steps to enhance those policies.
"S&P has received several requests from different government agencies over the last few years regarding U.S. mortgage-related securities. We have cooperated and will continue to cooperate with these requests," he said.
It was unclear whether the Justice Department investigation involves another ratings agency, Fimalac SA's Fitch. Neither Fitch nor Moody's have downgraded U.S. debt.
The Times said that despite the outcry over the ratings agencies' failures in the financial crisis, investors still rely heavily on ratings from the three main agencies for their purchases of sovereign and corporate debt, as well as other complex financial products.
The Senate's permanent subcommittee on investigations, headed by Democratic Senator Carl Levin, issued a report in April that included scathing criticisms of S&P after holding hearings on the financial crisis.
"The hearings held by the Permanent Subcommittee on Investigations and our subsequent report documented reckless actions and significant conflicts of interest on the part of the credit rating agencies that contributed to the financial crisis," Levin told Reuters in a statement.
"It is totally appropriate for U.S. law enforcement agencies to review that sad record," he said.
Senator Chuck Grassley, a Republican from Iowa, said he hoped the investigation would focus fresh attention on the inherent conflict of interest in the industry, which is paid by potential borrowers to rate their credit-worthiness.
"Maybe a Justice Department investigation will force action on the conflicts of interest problem and accomplish what should have been done a long time ago," Grassley said in a statement.
Additionally, S&P has been under fire from lawmakers, market players and the U.S. Treasury Department since its decision to cut the U.S. credit rating earlier this month. Key committees in Congress may also hold hearings about the downgrade and reforms of the ratings industry.
(Reporting by Jeremy Pelofsky, Sarah Lynch and Andrea Shalal-Esa, in Washington and Moira Herbst and David Henry in New York; Editing by Sandra Maler and Christopher Wilson)
Tue, August 16, 2011
FBI examines U.S. soccer boss's financial records
By Mark Hosenball
WASHINGTON (Reuters) - The FBI is examining documents charting more than $500,000 in payments made by a Caribbean soccer group to ...
Thu, August 11, 2011
Spain stock market regulator bans short selling
MADRID (Reuters) - Spain's stock market regulator, the CNMV, said on Thursday it banned short selling on financial stocks for 15 days from August ...
Thu, August 11, 2011
Europe short-selling ban reveals divisions
By James Regan and Ian Simpson
PARIS/MILAN (Reuters) - A piecemeal ban on short-selling of financial stocks in Europe sparked a rush of alternative ...
Wed, August 10, 2011
Citi, BofA, Goldman lead financial stock swoon
CHARLOTTE, North Carolina (Reuters) - Shares of Bank of America Corp
Mon, August 08, 2011
Financial advisers have "black Monday" blues
By Lauren Young, Personal Finance Editor
NEW YORK (Reuters) - For plenty of financial advisers -- who also serve as quasi-therapists, spiritual gurus and confidantes -- Monday ...
Tue, August 02, 2011
Exclusive: China mulls new regulator for state financial sector
By Benjamin Kang Lim and Koh Gui Qing
BEIJING (Reuters) - China is considering a proposal to create a ministerial-level body to manage its state-owned ...
Fri, July 29, 2011
Tea Party financial advisers: We have no inside info
By Lou Carlozo
NEW YORK (Reuters) - Just because some financial advisers associate themselves with the Tea Party doesn't mean they can read tea ...
Thu, July 28, 2011
Fed readies debt-limit guidance for financial firms
By Mark Felsenthal
WASHINGTON (Reuters) - The Federal Reserve plans to provide guidance to banks soon on how to handle the potentially turbulent financial waters ...
Tue, July 26, 2011
Elizabeth Warren to leave consumer financial agency
By David Lawder and Dave Clarke
WASHINGTON (Reuters) - Elizabeth Warren, the law professor who persuaded the Obama administration to create the Consumer Financial Protection ...
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