Tories vow to introduce banking tax

2010-03-20T13:15:33Z

<div><p>The Conservatives pledged Saturday to impose a US-style tax on banks to claw back money spent bailing them out, just weeks before a general election they are tipped to win.</p><p>"We had the biggest bank bail-out in the world. We can't just carry on as if nothing happened," said Conservative leader David Cameron, whose party is leading opinion polls ...

Bernanke: Keep Fed as watchdog of small US banks

2010-03-20T07:45:07Z

<div id="subtitle">Fed Chairman Bernanke tries to makes case for Fed to retain role as watchdog of smaller banks</div><div><p>Federal Reserve Chairman Ben Bernanke made a fresh pitch Saturday to retain oversight of small banks, contending that what the Fed learns from that role helps it assess the overall health of the entire U.S. financial system.</p><p>Bernanke, in a speech to the Alabama, Georgia, Minnesota, Ohio and Utah; makes 37 this year</div><div><p>Regulators on Friday shut down seven banks in five states, bringing to 37 the number of bank failures in the

Court orders Fed to release bailout documents

2010-03-19T14:45:28Z

<div><p>NEW YORK (Reuters) - In a significant victory for news media, a federal appeals court said the Federal Reserve must disclose records on emergency lending programs to banks bailed out by the government in the financial crisis.</p><p>The Second Circuit Court of ...

German tax authorities target Credit Suisse clients

2010-03-19T12:16:34Z

<div><p> Over 1,000 rich Germans with accounts at Swiss bank Credit Suisse found themselves under investigation Friday following the purchase by authorities of a CD containing the names of tax dodgers.</p><p>"State prosecutors have launched 1,100 investigations against customers and staff of Credit Suisse," Dirk Negenborn, spokesman for prosecu...

Lloyds predicts return to profit in 2010

2010-03-19T11:16:41Z

<div><p>Partly-nationalised Lloyds Banking Group forecast on Friday that it will return to profitability in 2010 and reported strong trade in the first few months of the year.</p><p>"In the first 10 weeks of 2010, the group's trading performance has been strong and we are pleased with the group's performance against each area of recent guidance," Lloyds said in a trading update.</p><p...

FTSE 100 shares rise

2010-03-19T10:15:53Z

<div><p>FTSE 100 shares were upbeat at the end of trade on Friday boosted by state-rescued bank Lloyds' forecast of a return to profit in 2010 after two years of losses.</p><p>London's benchmark index gained 0.13 percent to 5,650.13 points.</p><p>Lloyds Banking Group (LBG) was the most traded stock, seeing 895 million unit...

Lloyds says to return to profit this year

2010-03-19T05:01:02Z

<div><p>LONDON (Reuters) - Bailed out British lender Lloyds Banking Group <LLOY.L> said on Friday it would return to profit this year thanks to a bigger than expected drop in bad debts, wrong-footing forecasts for another loss and sending its shares sharply higher.</p><p>Lloyds, which sank 6.3 billion pounds ($9.63...

Former National City Bank debit accounts hacked

2010-03-18T15:45:37Z

<div id="subtitle">PNC Bank: National City Bank debit accounts hacked, hit with fraud</div><div><p>PNC Financial Services Group Inc. said Thursday it is investigating a breach of accounts affecting former National City Bank customers and their debit-card accounts.</p><p>The a...

Govt rewarded bank auditors with big bonuses

2010-03-18T14:15:39Z

<div id="subtitle">As banks binged on risky mortgages, govt rewarded regulators with taxpayer-funded bonuses</div><div><p>As banks gambled on the risky mortgages that helped create the worst financial crisis in generations, the U.S. government handed out millions of dollars in bonuses to regulators at agencies that missed or ignored warning signs that the system was on the verge of a meltdown.</p><p>The...

BANK REG BONUSES

2010-03-18T13:31:16Z

Graphic shows bonuses by government bank regulators

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FTSE 100 shares in the red

2010-03-18T11:16:11Z

<div><p>FTSE 100 shares ended in the red at the close of trade on Thursday as investors took profits and digested economic data including a larger-than-expected eurozone trade deficit.</p><p>London's benchmark index slipped 0.04 percent to close at 5,642.62 points.</p><p>Lloyds...

Bank regulators may extend crisis-era guarantee

2010-03-18T08:00:49Z

<div><p>WASHINGTON (Reuters) - U.S. bank regulators may extend a guarantee program set up at the peak of the financial crisis, fearing that ending the program could spark liquidity failures at small banks.</p><p>Sheila Bair, chairman of the Wachovia Corp. will pay $160 million to settle a federal investigation into laundering of illegal drug profits through Mexican exchange houses in the largest case of its kind ever brought against a U.S. bank, prosecutors...

christopher carley

2010-03-17T17:32:26Z

Christopher Carley seen leaving Bank of America in Beverly Hills. Los Angeles, California - 16.03.10

Fed boss makes case to keep all banking duties

2010-03-17T14:45:49Z

<div id="subtitle">Bernanke tells Congress: Don't scale back Fed banking supervision</div><div><p>Federal Reserve Chairman Ben Bernanke on Wednesday urged Congress not to scale back the Fed's regulatory authority over banks. He said the Fed needs the information it gleans from its bank oversight to set interest rates and gauge the health of the banking system.</p><p>A Senate bill to overhaul financial reg...

Wachovia pays $160 million to settle drug money probe

2010-03-17T12:30:31Z

<div><p>MIAMI (Reuters) - The Wachovia Bank unit of Wells Fargo & Co has agreed to pay $160 million to settle U.S. allegations that it laundered Mexican drug money.</p><p>Under the agreement, Wachovia will fo...

FTSE 100 posts solid gains

2010-03-17T11:16:07Z

<div><p>FTSE 100 shares posted solid gains on Wednesday as investors welcomed the US Federal Reserve's upbeat economic outlook, analysts said.</p><p>London's benchmark index gained 0.43 percent to finish at 5,644.63 points.</p><p>"The FTSE's early gains today were fuelled by yesterday's positive forecast from the US Federal Reserv...

Unicredit Q4 profit slides 27 percent

2010-03-17T03:00:12Z

<div id="subtitle">Italy's largest bank Unicredit says 4th quarter earns fell 27 percent</div><div><p>Unicredit SpA, Italy's largest bank, on Wednesday reported a 27 percent drop in fourth-quarter net profit due to a decline in interest income and an increase in provisions to cover bad loans.</p><p>The net profit of euro371 million ($509 million) was down from euro505 million a year earlier, but still better than analy...

Dubai World to offer full debt repayment: report

2010-03-17T01:45:07Z

<div><p>DUBAI (Reuters) - Dubai World will offer banks a single proposal to repay in full the $26 billion debt it is renegotiating, with interest likely linked to LIBOR, Al Arabiya reported on Wednesday.</p><p>Officials from Dubai and neighboring emirate <...

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