Financial Service News

With Europe sliding toward recession, the region's two main central banks are preparing to redouble their emergency measures aimed at softening the downturn and blunting the effects of the government debt crisis.

The mad rush to move client money out of MF Global Inc. after its collapse left two firms with the bulk of customer accounts, while other brokerages emerged with only minor gains from the chaos of carving up a multibillion-dollar business.

As the nation's five largest mortgage lenders edge close to a $25 billion settlement over foreclosure abuses, it's becoming clear that the deal will have little or no impact on their future bottom lines.

A unit of online brokerage TD Ameritrade will pay $1.5 million to resolve concerns that it violated postal rules and received discounts the company wasn't entitled to.

Goldman Sachs CEO Lloyd Blankfein's bonus will be cut to $7 million this year from $12.6 million the year before, according to Equilar, an executive compensation data firm.

Switzerland's biggest bank, UBS AG, saw its profits slide by 76 percent in the fourth quarter, in a further sign that a $2 billion trading scandal last year has dented business at a time of economic weakness in Europe and abroad.

U.S. stocks were little changed Tuesday, as investors wait for Greek leaders to agree on the terms of a new bailout package, a key step to avoiding a default.

The vice president of the Swiss National Bank says Switzerland's economy is expected to "slow considerably" despite the Swiss franc falling back against the euro.

Shareholders suing Bank of America Corp on Monday won class-action status for their lawsuit accusing the bank and various executives and directors of fraudulently misleading them about the 2008 takeover of Merrill Lynch & Co and size of Merrill's losses and bonus payouts.

Boralex permanently closed the facility and announced plans in November to sell the co-generation operation which produced electricity that was sold to Hydro-Quebec from wood waste and steam used in the paper making process.

A group of 27 visitors to a Chinese zoo had the shock of their life when their bus was attacked by enraged Bengal tigers.

The country's largest LGBT rights organization has announced that Goldman Sachs' CEO would be the group's first national corporate spokesman for gay marriage.

California and New York were considering Monday whether to join most other states in backing a long-awaited settlement with banks over foreclosure abuses.

Stocks are edging lower in early trading Monday as talks dragged on between Greek political leaders over a fresh austerity package required for the country to get more bailout loans.

Three months after banks scrapped plans for debit card fees, it's becoming clearer how they intend to recoup money lost in the Dodd-Frank financial reform law.

Challenging Netflix, phone company Verizon Communications Inc. says it will start a video streaming service later this year in cooperation with Redbox and its DVD rental kiosks.

Stock index futures pointed to a lower open for equities on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down 0.2 to 0.5 percent.

IMF chief debt inspector Poul Thomsen member of the so-called troika of Greece's creditors _ the European Union, the European Central Bank and the International Monetary Fund _ leaves the prime minister's official residence after meeting with Greece's Prime Minister Lucas Papademos in Athens, Greece on Sunday, Feb.

D.Boerse CEO eyes new allies as NYSE deal crumbles Deutsche Boerse does not believe it can survive in the long term without a new partner despite the collapse of its proposed $7.4 billion merger with NYSE Euronext , its chief executive told a German newspaper.

Two Swiss banks will this week outline their response to growing pressure from the U.S. to give up tax-evading American customers and the bankers who helped them.