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Regulators on Friday shut down Midwest Bank and Trust Company in Elmwood Park, Ill., as well as three smaller banks in Georgia, Michigan and Missouri to bring the number of U.S. bank failures this year to 72.
Prudential Financial Inc. said Wednesday it was profitable in the first quarter, reversing a year-ago loss, as the insurance and investment company was helped by gains in its annuity business as markets rebounded.
MetLife Inc. said Thursday it was profitable in the first quarter, reversing a year-ago loss, as the life insurer benefited from premiums and fee growth in both its U.S. and international businesses.
Property and casualty insurer Allstate Corp. said Wednesday it was profitable in the first-quarter, reversing a year-ago loss, even as costs rose for insuring against damage caused by catastrophes including severe winter weather in the eastern United States.
The Treasury market traded in a narrow range Thursday as investors balance European debt concerns with signs of an improving U.S. economy.
Travelers Cos. said Friday that costs of insuring against the damage caused by the Chilean earthquake and winter storms in the eastern United States led to a 2 percent decline in its first-quarter profit.
Some people would say, Genworth Financial Inc. CEO Michael Fraizer just has all the luck.
PNC Financial Services Group Inc. on Thursday said its first-quarter profit fell almost 28 percent as it paid back government bailout funds.
Wells Fargo & Co. said Wednesday its first-quarter earnings fell 1 percent to $2.37 billion as the bank dealt with continuing losses on consumer loans. It also originated fewer mortgages compared to a year earlier as refinancing activity trickled off.
U.S. Bancorp said Tuesday its first-quarter profit rose nearly 55 percent from a year ago, helped by higher revenue from its fee-based businesses and slowing consumer loan losses.
Even as the nation's big banks report more losses from mortgage loans, they're seeing signs of an economic recovery.
Interest rates fell in the bond market Thursday after concerns grew that a bailout for Greece might not be enough to help the country through its fiscal crisis.
The Associated Press has found that MBIA awarded its CEO, Joseph W. Brown, a compensation package worth $5.2 million last year, 63 percent less than in 2008.
Interest rates fell in the bond market Wednesday after a private sector report provided a surprising reminder that the job market remains weak.
Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure.
MetLife Inc. Chairman and CEO C. Robert Henrikson received compensation of $9.98 million in 2009, down 20 percent from the previous year, according to an Associated Press calculation of figures disclosed in a regulatory filing Tuesday.
PNC Financial Services Group Inc. said Thursday it is investigating a breach of accounts affecting former National City Bank customers and their debit-card accounts.
Interest rates surged in the bond market Wednesday after a government debt auction drew only tepid demand for a second day.
Bank of America CEO Brian Moynihan conceded Wednesday that the company made a series of missteps during the credit crisis and recession that hurt its relationship with shareholders and customers.
International Lease Finance Corp., the aircraft-leasing unit of American International Group Inc., is looking to raise $1.3 billion in loan offerings as it seeks new funds to help repay some of its debt.
Aflac Inc. CEO Daniel Amos' pay rose 22 percent in 2009, according to an Associated Press calculation of figures disclosed in a regulatory filing.
The pace of mergers and acquisitions is gaining speed in 2010 thanks to American International Group Inc.
Regulators on Friday shut down banks in New York, Florida and Louisiana, raising to 30 the number of failures this year of federally insured banks.
American International Group Inc. is selling a cornerstone of its business, Asia-based life insurer AIA Group, in a government-approved $35.5 billion deal. The sale to British insurer Prudential PLC could reduce by nearly one-fifth the amount of federal bailout money still invested in struggling AIG.
AIG said Friday it lost $8.87 billion in the fourth quarter as its general insurance business remained weak and the company ran up expenses from paying back government loans.
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