Senator’s offer preceded deal for husband’s firm

Posted by Financial Service News on April 21st, 2009

Sen. Dianne Feinstein, D-Calif., offered to help the chairwoman of the Federal Deposit Insurance Corp.

Stocks To Watch - Schering-Plough, Merck

Posted by Financial Market News on April 21st, 2009

Merck and Schering-Plough report 1Q earnings as part of a larger scene for the drug companies, Monica Bertran of Bloomberg News has the details.

Rising bank stocks pull Wall Street higher

Posted by Financial Service News on April 21st, 2009

Geithner said the decision on repayments would be left to bank regulators and that "the vast majority" of banks had more capital than they needed.

Banks still in distress, Geithner tells overseers

Posted by Financial Market News on April 21st, 2009

America's banks are still broken despite all their bailout billions, Treasury Secretary Timothy Geithner told impatient rescue overseers Tuesday as they pressed him on when things will get better and how much it will cost.

4 new board members up for vote at Citi meeting

Posted by Financial Service News on April 21st, 2009

The anger was evident at Citigroup Inc.'s annual meeting, where shareholders took turns at the microphone to object to how the bank has been operating.

Sensex back in the green

Posted by Financial Market News on April 21st, 2009

Mumbai, April 21 : Indian equities were trading mixed a little after noon Tuesday, with a key index ruling just above its last closing figure shortly after the central bank cut key rates by 25 basis points.

Huntington Bancshares reports $2.4 billion loss in 1st quarter

Posted by Financial Service News on April 21st, 2009

Regional bank Huntington Bancshares Inc. says it lost $2.4 billion in the first quarter, largely because of a $2.6 billion charge associated with troubled mortgages inherited through a merger.

Stocks point higher ahead of rush of earnings

Posted by Financial Market News on April 21st, 2009

Wall Street pointed toward a moderately higher open a day after a steep sell-off as investors await a rush of quarterly earnings reports.

Mighty, Small: Smaller banks complain about changes

Posted by Financial Service News on April 21st, 2009

First they felt their reputations were stained by the financial meltdown. Now they're paying a price they protest is unfair.

Oil hovers below $46 as crude follows stocks down

Posted by Financial Market News on April 21st, 2009

Oil prices languished below $46 a barrel Tuesday in Asia after renewed doubts about the health of U.S. banks sent crude and stock markets tumbling.

Benchmark crude for May delivery rose 7 cents to $45.95 a barrel by midday in Singapore in electronic trading on the New York Mercantile Exchange.

After trading near $50 a barrel so far this month, oil prices plunged $4.45 on Monday to settle at $45.88, following a broad sell-off of stocks.

Bank of America Corp. said it set aside $13.4 billion to cover lending losses, even as it posted a profit for the first quarter. And anxiety grew about the results of the U.S. government's 'stress tests' to determine if banks will need more bailout money.


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