Financial Service News

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a lawsuit to force the Cook County sheriff to evict a suburban Chicago woman from her home announced Friday it has withdrawn the suit.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

Northville, Mich.-based Main Street Bank and Eldred, Ill.-based Meridian Bank became the latest victims of the ongoing financial crisis on Friday, when they folded and their deposits were transferred by the ...

Stocks slid on Friday, as panicked investors unwound risky bets in a global sell-off on fears that tighter credit would spawn world recession.

India's largest private sector lender ICICI Bank shares suffered heavy hammering on the bourses Friday due to its overseas exposure.

General Electric , which makes everything from jet engines to water treatment systems and owns NBC Universal, said Friday its third-quarter profit fell 22%, hurt by its financing business.

PANAMA CITY, Panama - - The Panama Canal expansion project is getting a US$400 million loan from the Inter-American Development Bank.

Could it be just a year ago that jubilant investors were celebrating record highs in the stock market? It almost seems inconceivable now as both Wall Street and Main Street stare into a seemingly bottomless pit ...

More than 10,000 children remain hospitalized in China's tainted milk scandal, Chinese health officials revealed, while the country defended its dairy products Thursday at a meeting of the World Trade ...

In federal charges filed Wednesday, a Fishers woman was accused of filing false claims for tax refunds as the office manager of an H&R Block branch in Indianapolis, authorities said.

The lack of short-term credit quickly impacts the way U.S. companies do business, cutting their ability to restock shelves and meet payrolls, analysts said.

Oct 9 - Coordinated policy action hopes to boost markets, investors and citizens as global recession looms.