Banking News

HSBC chairman Douglas Flint publicly apologised to shareholders yesterday for the bank's failings after it was fined 1.3 billion in December following a probe into its Mexican and stateside operations.

Shares in Taiwan took a beating to close below 8,300 points Thursday amid fears that the U.S. Federal Reserve will make an early exit from its current quantitative easing after sending mixed messages on the issue, dealers said.

UBS ' French unit could be placed under formal investigation in the coming days as part of a broader probe into the Swiss bank's business practices, a person familiar with the matter said on Friday.

New York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America Corp, Wells Fargo and Co and other banks violated the terms of a settlement designed to end mortgage servicing abuses.

Bank of America Corp. , the second-largest U.S. lender by assets, is seeking buyers for about 40 branches in New York and Pennsylvania, four people with knowledge of the matter said.

HSBC 's Chairman Douglas Flint said on Friday the pace of reform in the banking industry must be accelerated to avoid investor confidence in the sector being undermined.

Dominion Resources is making the largest ever private-sector donation to the Black History Museum and Cultural Center of Virginia.

Representatives of GreeceA's creditors and the competition branch of the European Commission are asking domestic commercial banks to sell off their non-banking activities in Greece and their subsidiary and affiliated banks in Southeastern Europe.

A copy of the settlement was obtained Thursday by The Associated Press. It awards a 10-year contract to the Bank of New York and promises to give the bank and its affiliate as much business as possible for a decade.

The Hopi Tribe of northern Arizona claims its investments were mishandled by a national banking institute, resulting in the loss of millions of dollars.

China 's manufacturing is contracting in May for the first time in seven months, adding to signs that economic growth is losing steam for a second quarter.

A top European Central Bank official says an agency with powers to restructure and wind down busted banks is "indispensable" to strengthening the continent's banking system against future turmoil.

A top European Central Bank official says an agency with powers to restructure and wind down busted banks is "indispensable" to strengthening the continent's banking system against future turmoil.

Deutsche Bank 's bosses tried to convince skeptical shareholders at a lively annual meeting on Thursday that the bank was on the right track again after facing a host of legal problems.

St Louis Fed President James Bullard, a voting member this year on the Fed's monetary policy panel, said he also expects unemployment to drop over the next two years, while inflation should remain near the Fed's 2 per cent target rate [LONDON] The Federal Reserve should stick with its asset-buying programme and adjust the pace depending on how ... (more)

Saks Inc. rallied for a third day Wednesday on reports that it may be window shopping for a new owner, with most analysts generally upbeat about a potential deal.

Financial Institutions, announced a quarterly dividend on Wednesday, May 22nd, AnalystRatingsNetwork.com reports.

JPMorgan Chase President, Mid-Atlantic market, Wayne Trotman and North Carolina Governor Pat McCrory, speak at the Foundation For The Carolinas, Wednesday, May 22, 2013.

The very people who should care most about JP Morgan's shareholder votes on Tuesday may be people who don't own a single share of the bank's stock.

Undeterred by record-high housing prices and bolstered by low borrowing costs, nearly half of Canadian home owners plan to buy a property in the next five years, although intentions vary sharply from city to city, a poll released Wednesday has found.