Treasury ordered to turn over bailout records

Posted by Financial Service News on February 20th, 2009

A federal judge has ordered the Treasury Department to give the Fox Business Network records about how the agency spent billions in bailout money.

Business Update: A rough week

Posted by Financial Market News on February 20th, 2009

February 20.- Stocks grinded lower on Friday, finishing a 6 percent weekly decline, as investors fear bank nationalization may be inevitable.

UBS: Code words, deceptions used to dupe IRS

Posted by Financial Service News on February 20th, 2009

Swiss bank UBS AG used coded language in internal e-mails and memos, created hundreds of sham offshore entities and lied to U.S. officials in an elaborate scheme to conceal the overseas accounts of wealthy ...

Stocks tumble but close well off lows

Posted by Financial Market News on February 20th, 2009

" Stocks have extended their slide but regained some lost ground after the White House doused fears that the government would nationalize crippled banks.

Bank shares take beating on nationalization fears

Posted by Financial Service News on February 20th, 2009

Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders.

Bank shares take beating on nationalization fears

Posted by Financial Market News on February 20th, 2009

Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders.

BofA’s CEO Lewis subpoenaed by Cuomo

Posted by Financial Service News on February 20th, 2009

Bank of America Corp. Chief Executive Ken Lewis has received a subpoena from the New York state attorney general's office in connection with Merrill Lynch's payment of employee bonuses before the companies ...

Sensex dips below 9k level; down 195 pts

Posted by Financial Market News on February 20th, 2009

Mumbai: The Bombay Stock Exchange benchmark Sensex fell by over 195 points in the opening trade on Friday, on heavy selling by funds, taking cues from melting global markets.

Aussie rates won’t hit zero

Posted by Financial Service News on February 20th, 2009

AUSTRALIA'S central bank is prepared to cut interest rates further but they are unlikely to drop to near zero as they have in some other countries, the governor said on Friday.

Oil falls below $39, reversing big gain overnight

Posted by Financial Market News on February 20th, 2009

Oil prices fell below $39 a barrel Friday in Asia as investor concerns about weak crude demand continued to linger even after lower-than-expected inventory numbers sparked a big gain overnight.


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