Financial Service News

The Federal Reserve's chief policymaking group, the Federal Open Market Committee, has vast power over the economy through its ability to set monetary policy.

North America reclaimed the top spot with the most millionaires last year as the world's ultra-rich led the way in raising global wealth to a record high, according to a report by Cap Gemini and Royal Bank of Canada.

General Wesley Clark and Lars Thunell have joined Fisterra Energy's board to help lead the newly formed power development company.

In an editorial published Wednesday, the newspaper announced it would become known as the Fauquier Times.

A government initiative aimed at saving money by eliminating paper checks is hurting some recipients of federal benefits while earning the bank that operates the program millions in fees charged to consumers.

M&T Bank Corp will put a comprehensive plan in place to fix problems with its anti-money laundering policies that had caused regulators to put a hold on its $3.7 billion bid to buy Hudson City Bancorp.

Lloyds Banking Group was warned at the start of last year that the Co-operative Bank's failed bid for more than 600 branches was too risky, MPs were told today.

Radical plans to split Royal Bank of Scotland into a 'good' bank and a 'bad' bank must be looked at immediately Radical plans to split Royal Bank of Scotland into a "good" bank and a "bad" bank must be looked at immediately as part of an urgent rethink of Government plans for privatisation, according to an influential Parliamentary commission.

Fifth Third Bancorp on Tuesday boosted its common stock cash dividend by 1 cent, or 9 percent, to 12 cents.

The widow of a U.S. banking executive slain in a drive-by shooting in Puerto Rico has filed a wrongful death lawsuit against the bank's CEO and other high-ranking officials.

Royalty Pharma has let its latest takeover bid for Irish drugmaker Elan lapse as it decided against pressing ahead with a court challenge of a requirement that it withdraw the offer.

Over the past few years, Citigroup Inc has been grappling with an unusual problem - how to incur more U.S. taxes.

Wall Street is ramping up financing to private-equity firms buying homes to rent, helping them accelerate purchases as competition increases and prices jump .

Sprint Nextel Corp on Monday said it has sued Dish Network Corp to block its tender offer for Clearwire Corp, on the eve of a key deadline in a takeover battle that also includes Japanese mobile carrier SoftBank Corp. The lawsuit filed on Monday in Delaware Chancery Court accuses Dish of trying to "fool" and "coerce" Clearwire shareholders into ... (more)

Executives with OneWest Bank have announced that more than 700 workers will lose their jobs as the company is acquired as part of a $2.53 billion deal.

Natasha Salter, from Stoddens Road, and Clare Kingston, from Lynton Road, travelled from Torquay to Burnham in a tandem bike ride to raise funds for MacMillan Cancer Support.

According to statements from one former BofA employee, workers who managed to push at least 10 clients into foreclosure received $500 bonuses as well as gift cards to Target and Bed Bath and Beyond.

ANZ Banking Group and Macquarie Bank will have to set aside up to $S300 million each after being caught up in Singapore's rate-rigging scandal.

No currency has ever fallen afoul of investors as fast as the Aussie over the past two months.

Newcrest Mining Ltd. , Australia 's largest gold producer, is facing scrutiny from regulators about its disclosure of a possible A$6 billion writedown after bullion slid into a bear market.