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Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans.
Bank of America Corp. on Thursday reiterated that the current credit environment will remain difficult into next year, as unemployment is likely to continue to rise.
When Maurice "Hank" Greenberg has been in the news during the past five years, the story usually has been about AIG, the company he built into an insurance conglomerate and headed until his ouster in 2005.
Shares of American International Group Inc. fell Tuesday as the company continues to face challenges in repaying government funds.
Travelers Cos. said Thursday that lower losses related to severe weather and a rebound in its investment portfolio contributed to a jump in the insurer's profit for the third-quarter.
Bank of America Corp. said Wednesday it has agreed to sell First Republic Bank, a private bank it inherited from Merrill Lynch & Co., to a group of investors.
If the stock market and weather are any indication, third-quarter earnings reports from insurers will look a lot better than they did a year ago.
Stock futures pointed to a modestly higher opening Monday as investors await the government's first reading on the economy in the third quarter later in the week and a fresh round of earnings reports.
Bank of America Corp. said Friday it lost more than $2.2 billion in the third quarter as loan losses kept rising, providing more evidence that consumers are still struggling to pay their bills.
Bank of America Corp. says it lost more than $2 billion in the third quarter as its loan losses continued to rise.
Citigroup provided a sobering reminder Thursday that the economy is still struggling, reporting that its third-quarter results were weighed down by billions of dollars in failed loans.
Citigroup Inc. reports results for its third quarter on Thursday. The following is a summary of key developments and analyst opinion related to the period.
With earnings reports arriving in earnest this week, investors are likely to get a boost in optimism or an unpleasant surprise.
Insurance data specialist Verisk Analytics Inc. shares are set to debut Wednesday, and a handful of insurance giants, including government-supported American International Group Inc., are looking to cash in their shares.
Bank of America Corp. said Friday it created a six-member committee of directors to find a successor for CEO Ken Lewis.
Bank of America Corp. plans to select an emergency CEO this week in case Ken Lewis steps down before the end of the year, The Wall Street Journal reported Monday.
American International Group Inc. is again hosting some of the nation's top financial advisers and says that this time, the gathering at a California resort will cost it just $30,000.
Stock futures pointed to a modestly higher open Friday as investors try to shake a two-day losing streak.
Discover Financial Services said Thursday it more than tripled its profit in the fiscal third quarter, helped by a payment from a lawsuit settlement.
If the stock market's seemingly unstoppable march higher is to be believed, the economy is firmly on the road to recovery. Several key events on the economic calendar this week may help determine whether that conviction holds up.
Insurance companies said Monday it was too soon to determine how much they would have to pay for claims from wildfires that have already burned more than 80 homes in California and threatened thousands more.
The stock market has lost some of its swagger, and it seems unlikely to regain it anytime soon.
Shares of BB&T Corp. rallied Friday on reports it will buy deposits and branches of Colonial BancGroup Inc. in a deal backed by federal regulators to take the struggling lender into receivership.
Bank of America Corp. is suing troubled Colonial Bancgroup Inc. for more than $1 billion in cash and loans, and asked a federal court to prevent Colonial from selling or otherwise disposing of the assets.
American International Group Inc. said Wednesday it is aware of potential conflicts of interest related to the hiring of former MetLife Inc. Chairman and CEO Robert Benmosche as its new CEO, and would deal with any conflicts as necessary.
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