February 22, 2009 – 8:42 am
Reuters - Pressure mounted on Sunday on the chairman of UBS to step down after the Swiss bank was engulfed in a storm of criticism over its handling of a U.S. probe into tax fraud.
February 21, 2009 – 6:51 pm
Reuters - Financial regulators will soon launch a series of “stress tests” to determine which of the largest U.S. banks should get bigger capital cushions in case of a deeper recession, a person familiar with Obama administration plans said on Saturday.
February 21, 2009 – 6:01 pm
Reuters - Yahoo Inc Chief Executive Carol Bartz could announce a major management reorganization as early as next week, according to the blog AllThingsD.
February 21, 2009 – 2:19 am
Reuters - The White House said on Friday it strongly believed in a privately held bank system, after rumors that the U.S. government could nationalize banks caused shares in Bank of America and Citigroup plummet.
February 21, 2009 – 12:32 am
Reuters - Regulators seized Texas billionaire Allen Stanford’s banks and companies in Antigua and Barbuda, the Caribbean state at the center of fraud charges against him, as the financier surrendered his passport to U.S. authorities.
February 20, 2009 – 7:58 pm
Reuters - Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.
February 20, 2009 – 7:23 pm
Reuters - Bank of America Corp shares sank below $3 and Citigroup Inc tumbled below $2 on Friday, hammered by growing fears that the U.S. government could nationalize the banks, wiping out shareholders.
February 20, 2009 – 6:49 pm
Reuters - Bears could have the upper hand again next week if Wall Street fails to get assurance that major banks can be rescued without being seized by the U.S. government.
February 20, 2009 – 5:43 pm
Reuters - Diversified U.S. manufacturer United Technologies Corp reduced the pay of its top two executives last year, but continued to pay bonuses to all its top officials as profit rose in a recessionary environment.
February 20, 2009 – 5:42 pm
Reuters - Texas billionaire Allen Stanford has surrendered his passport in keeping with a court order, a spokesman for the U.S. Securities and Exchange Commission said on Friday, but he was nowhere to be seen as this case played itself out on the world stage.
