Commercial banks

Swiss Banking Giant UBS Intends to Broaden Business Footprint in the US

Swiss banking giant UBS intends to seek merger and acquisition opportunities in the United States in the years ahead.


Investors Led by Ex-Trump Official Invest $1 Billion to Troubled US Bank

Steven Mnuchin, the US Treasury Secretary under former president Donald Trump, has invested in a troubled regional US bank...

Warren Buffett-Backed Capital One to Buy Discover Financial in $35 Billion Deal

Warren Buffett-backed Capital One is set to acquire US credit card issuer Discover Financial Services in an all-stock deal valued at $35.3 billion...

Citigroup to Close Down Global Distressed-Debt Business: Here's What to Know

Citigroup Inc. is reportedly closing its global distressed-debt group as it undergoes further restructuring under CEO Jane Fraser's leadership...


Latest News

UK house prices up 1.7% on lower interest rates
The UK house prices rose for the consecutive second month in January 2016. The UK property market demand is growing in the wake of lower interest rates and encouraging job growth rate. The average cos
ING's Q4 earnings beat forecast
The Dutch banking major ING Groep's revenues for the fourth quarter were above the analysts' forecasts. ING's exposure to the oil companies is putting pressure on its stock, which suffered 20 percent
Gold price retreats from 12-week high on US Fed statement
Gold soared to three-month high early this week as investors switched over to safe have following the concerns about the global economy. The US Federal Reserve indicated a challenging global economy a
Major banks funding Bitcoin startup on recording blockchain deals
A bitcoin startup Digital Asset Holdings has received funding from major banks. It will work closely with investors on research and commercialization of bitcoin technology applications. Digital Asset
AmEx to slash cost by $1bn by 2017
Feeling the heat of competition in the global payments industry, American Express (AmEx) is in the process of reducing costs by $1billion by end of 2017. AmEx posted losses for the fourth quarter cons
Canadian imports turn costlier as oil price drops
The falling oil price below $30 per barrel is impacting Canadian economy, which mostly depends upon commodities. Along with oil price, Canadian currency Loonie too declined against the US dollar. The
Drought leaves SA farmers owing $7.5 bln to banks
The debt burden of South African farmers reached to over Rand 125 billion ($7.5 billion). The total debt of farmers was up 14 percent in 2015 to Rand117 billion. Economists alert that the prevailing s
Goldman Agrees To Pay $5.1 billion, Resolves 7 Years’ Pending Mortgage Security Dispute
Goldman Sachs Group Inc. has finally agreed to pay $5.1 billion on Wednesday to resolve a seven years’ pending dispute over faulty mortgage securities. The penalty amount remains lower compared to tho
Asian Stocks Dipped As Wall Street Plunged: China's Slowdown, Slump In Oil Prices Dominate
The Wall Street took a second plunge on Wednesday in the first two weeks of 2016 after trading failed to pickup after Tuesday. This sent ripples to global markets especially Asian markets which all cl
MUFG buys 20% stake in Philippines' Security Bank
Japan’s Mitsubishi UFJ Financial Group is said to have agreed to buy a 20 percent stock in Philippines' lender Security Bank Corp for $773 million (36.9 billion pesos), as an effort to strengthen its
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