Banking industry
Despite receiving federal bailout money, six top US banks - Goldman Sachs Group Inc., JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., Wells Fargo & Co., and Morgan Stanley - are set to pay employees a total of $74 billion in bonuses, a $14 billion increase from last
Banking industry
Despite numerous efforts and promises from the industry, the number of households facing foreclosure continues to soar, leaving millions of Americans without homes and struggling to make ends meet. At a recent Senate Banking Committee hearing, Chairman Christopher Dodd expressed his frustration and disappointment at the lack of progress in
Banking industry
The CIT Group is on the brink of filing for bankruptcy due to its inability to reach a deal with the government for emergency funding. This potential bankruptcy would be the first instance since the collapse of Lehman Brothers where a significant financial company is not bailed out by the
Banking industry
Mortgage fraud has seen a notable increase, with losses reaching $208 million higher than the previous year, according to recent reports. The FBI warns of potential widespread attempts, fueled by the ongoing economic downturn, which may worsen in 2009 and potentially into 2010. Top 10 mortgage fraud states include California,
Banking industry
Wall Street continued its downward trend on Tuesday, with investors growing concerned that corporate earnings will not be strong enough to boost market sentiment. The decline came despite the upcoming earnings season, which is set to begin with Alcoa Inc.'s report on Wednesday. Analysts estimate that profits at
Banking industry
The Supreme Court has delivered a major blow to the nation's largest banks by ruling that national banks are still subject to the laws of the states they operate in, in a 5-4 vote. This ruling overturns an earlier appeals court decision that would have nullified state fair
Banking industry
PennyStockOfficial.com, a leading stock website, has announced its stock alerts service to the investing community, providing free alerts on stocks on the move and in the news. The service includes daily alerts on hot stocks with huge volume, penny stocks moving quickly to the upside, and companies with news.
Banking industry
Bonuses are making a comeback in the City of London, with some banks reporting significant payouts to their executives. The trend is led by investment banks, such as Goldman Sachs and Credit Suisse, where top executives are receiving bumper bonuses. Even government-owned banks are not immune, with the £15m pay
Banking industry
Royal Bank of Scotland's catastrophic collapse has put it in the embarrassing position of being the worst performer among the world's banks last year, according to a leading industry journal. The bank's colossal losses of £36 billion during 2008 attributed to a massive write-down
Banking industry
Regulation reform is urgently needed to avoid future crises of the magnitude of the current financial crisis. The existing regulatory system has been criticized for its complexity and uneven oversight, allowing financial institutions to shift risky products to less-regulated entities. This has led to the collapse of companies like AIG
Banking industry
TryPennyStocks.com, a leading online stock research platform, has announced its free stock alerts service for the investing community. Investors can receive daily notifications on stocks that are hot in the market, including those with huge volumes, penny stocks moving to the upside, and companies with news. The platform'
Banking industry
The hotel industry is facing a significant crisis as several prominent hotel brands and companies are experiencing defaults and financial difficulties. Sunstone Hotel Investors, a hotel REIT, recently defaulted on its mortgage for the W San Diego hotel, while the administration suggests capping pay for employees of companies that received
