Standard & Poor's said Wednesday it is changing the makeup of its indices after a number of acquisitions.
Regulators shut four banks from California to Florida on Friday, boosting to 20 the number of U.S. bank failures this year following the 140 closures last year in the worst financial climate in decades.
Shares of MetLife slid Wednesday, a day after the insurer confirmed that it's in talks with American International Group Inc. about buying the American Life Insurance Company.
American International Group Inc. is set to pay out about $100 million in a fresh round of bonuses to employees of its financial products division, the unit whose risky bets helped sink the company leading to a $180 billion government bailout, according to reports published Tuesday.
It's the spoiled brat market. Dozens of companies this past month posted blow-out earnings but instead of being thankful, investors stomped their feet and sold. The result: The Dow Jones industrial average fell 3.5 percent in January, the worst month for stocks since the depths of the bear market last year.
Citigroup Inc. is ready to start growing again in Japan. The company said Tuesday it will open four retail branches this year, marking the banking giant's first expansion here since selling several of its Japanese finance businesses in the wake of the global financial crisis.
Bank of New York Mellon Corp. says it is acquiring the global investment servicing business of PNC Financial Services Group Inc. for $2.31 billion in cash.
The government says it will sell the 7.7 billion in shares it bought in Citigroup over the next year.
In a bid to confound counterfeiters, a new C-note will be unveiled next month
A prominent Brooklyn rabbi was arrested Thursday in a scheme to extort a Connecticut-based hedge fund into paying millions of dollars to two schools, federal prosecutors said.
