Financial Service News

Northern Rock is dropping a potential legal claim against its former chief executive, Adam Applegarth, and other directors, saying there are "insufficient grounds to proceed". Northern Rock customers line up to ...

CBA has followed Westpac and NAB by slashing interest rates on home loans by up to 1.55 per cent.

New York Gov. David Paterson says Goldman Sachs Group Inc. will make Manhattan the U.S. headquarters for its commercial banking operations.

Amid weeks of stock market turmoil, many worried investors have been tracking the daily trajectory of the Dow Jones industrial average like never before.

Major stock markets around the world rose for the first time in days today as the U.S. said it plans to swiftly implement a broad financial rescue package and Europe put almost $2 trillion on the line to break ...

Oct. 13 - Shares rise in early morning trade after the government extended a blanket guarantee to all bank deposits.

Morgan Stanley Capital Infusion: All preferred stock deal, scraps common stock offfer; price reduced by as much as 36%; UFJ investment guaranteed by U.S. government?; U.S. government assures Mitsubishi UFJ that ...

NAB has joined Westpac in cutting fixed interest rates on home loans. NAB announced it would cut would cut interest rates on its fixed rate products by up to 1.6 percentage points, effective today.

The Wall Street Journal reports that Spanish bank Banco Santander SA is in "advanced talks" to acquire Philadelphia-based thrift Sovereign Bancorp Inc.

With its iconic stagecoach, Wells Fargo & Co. has evoked images of the wild West throughout its 156-year history.

The declaration says the governments would guarantee "for an interim period and on appropriate commercial terms" new interbank loans between private institutions for the next five years.

Major British banks are likely to announce their plans to recapitalize early on Monday, a person familiar with the matter said, a move which could see the government take multi-billion pound stakes in several ...

Following up an announced government plan to buy mortgages from Canadian banks, a number of lenders on Friday announced plans to cut their prime rates - though by differing degrees.

Hundreds of free events to help Wisconsin consumers better manage their money will be held next week.

A mortgage lender that filed a lawsuit to force the Cook County sheriff to evict a suburban Chicago woman from her home announced Friday it has withdrawn the suit.

Derivatives traders were yesterday nervously picking their way through the wreckage of the Lehman Brothers bankruptcy in what was the biggest test to date of the unregulated $60 trillion credit default swaps ...

The collapse of Lehman Brothers Holdings Inc may force sellers of credit-default swaps including Pacific Investment Management Co to make the biggest-ever payout in the $55 trillion market.

The Treasury Department confirmed Friday evening that it will buy stakes in major U.S. banks and financial institutions, announcing the bold move as leaders of the world's top industrialized democracies agreed ...

With its iconic stagecoach, Wells Fargo & Co. has evoked images of the wild West throughout its 156-year history.

Treasury Secretary Henry Paulson said on Friday the United States was developing plans to buy equity in financial institutions if necessary to halt market turmoil.