Finance Law

WASHINGTON (AP) — The world’s top central bankers have said they’re willing to rescue the economies of Europe and the United States. This week we’ll find out if they are ready to act. The Federal Reserve wraps up its two-day policy meeting Wednesday. Chairman Ben Bernanke has pledged to act if unemployment stays high. The [...]

YANGON, Myanmar (AP) — The World Bank says it is prepared to resume assistance to Myanmar after a hiatus of 25 years. It’s ready to provide $85 million in grants for development while also helping to clear almost $400 million in arrears from old loans. World Bank Vice President for East Asia and Pacific Pamela [...]

YANGON, Myanmar (AP) — The World Bank says it is prepared to resume assistance to Myanmar after a hiatus of 25 years. It’s ready to provide $85 million in grants for development while also helping to clear almost $400 million in arrears from old loans. World Bank Vice President for East Asia and Pacific Pamela [...]

MUMBAI — The Indian central bank left interest rates unchanged Tuesday for the second consecutive review, showing that pulling down stubbornly high inflation is its top priority, even as economic conditions deteriorate. Underlining its policy problem as it faces pressure to reduce rates, Reserve Bank of India, the central bank, cut its economic growth forecast [...]

Deutsche Bank AG (DBK) said it will eliminate 1,900 jobs by the end of the year, including 1,500 at the investment bank and support areas, as part of an effort to save 3 billion euros ($3.68 billion). Germany’s biggest lender, which employed 10,079 at the investment bank at the end of June, said most of [...]

Deutsche Bank AG (DBK) said it will eliminate 1,900 jobs by the end of the year, including 1,500 at the investment bank and support areas, as part of an effort to save 3 billion euros ($3.68 billion). Germany’s biggest lender, which employed 10,079 at the investment bank at the end of June, said most of [...]

Deutsche Bank AG (DBK), Germany’s biggest bank, said second-quarter earnings at its investment bank slid 63 percent as revenue from trading and issuing securities shrank amid Europe’s debt crisis. Pretax profit at the corporate banking and securities unit slid to 357 million euros ($439 million) from 969 million euros in the same period a year [...]

Berkshire Bank, a New York lender with 11 branches, sued 21 banks including Bank of America Corp., Barclays Plc (BARC) and Citigroup Inc. (C) (C) for damages over the alleged manipulation of the London interbank offered rate. Berkshire sought undisclosed compensation and punitive damages and the right to represent other lenders in a group lawsuit, [...]

Canadian banks are underperforming global counterparts by the most in a year as record consumer debt and a housing market that’s vulnerable to a correction weakens their earnings prospects and risks a credit downgrade. Standard Poor’s cut its outlook to negative from stable on seven Canadian banks July 27, including Toronto-based Royal Bank of Canada [...]

By Jed Horowitz NEW YORK | Mon Jul 30, 2012 10:15am EDT NEW YORK (Reuters) – The expiration of special U.S. deposit insurance at the end of the year has spurred banks to lobby Congress to extend the program out of fear that companies will withdraw billions of dollars. At issue is the Transaction Account [...]