Banking News

12:51 PM EST
2/7/2012 Swiss banking giant UBS sees profits plunge on weak businessProfits slumped by a whopping 76 percent at UBS, Switzerland’s largest bank, during the last quarter, with profits for all of 2011 down by 44 percent from 2010.

Source:AHN Topics:Economy, Business And Finance, Company Information, Quarterly Or Semiannual Financial Statement, Financial And Business Service, Banking, Economy

8:50 AM EST
2/7/2012 Obama orders freeze of Iranian government, bank assets in U.S.President Barack Obama has issued an executive order freezing all assets of the Iranian government and financial institutions in the U.S.

Source:AHN Topics:Politics, Government, Executive (government), Unrest, Conflicts And War, Conflict, Economy, Business And Finance, Financial And Business Service, Banking

11:57 AM EST
1/19/2012 Bank of America posts a profitBank of America reported a fourth-quarter profit of $2 billion compared with a $1.2 billion loss in the same period in 2010. Bank of America credited its two years of streamlining and simplifying the company for helping it return to profitability and enter 2012 as a stronger and more efficient business.

Source:AHN Topics:Economy, Business And Finance, Company Information, Quarterly Or Semiannual Financial Statement, Financial And Business Service, Banking

11:32 AM EST
1/13/2012 Banking giant JPMorgan reports big drop in profitsWall Street banking giant JPMorgan reported a steep plunge in its quarterly earnings Friday morning caused by large losses in its investment banking and trading divisions. The news caused shares of JPMorgan (JPM, Fortune 500) stock to fall by 3 percent in early trading.

Source:AHN Topics:Economy, Business And Finance, Financial And Business Service, Banking, Company Information, Quarterly Or Semiannual Financial Statement, Economy

9:48 AM EST
1/11/2012 Debt crisis makes Mafia Italy's biggest bankOrganized crime in Italy has generated an annual turnover of about $178.89 billion in profits and more than $100 billion euro in profits, making it the head "Capo" or biggest bank in Italy, the study found. Small businesses, which have struggled to get credit during the economic recession, have turned to the mafia for loans, seeing no other choice.

Source:AHN Topics:Economy, Business And Finance, Financial And Business Service, Banking, Crime, Law And Justice, Organized Crime

1:20 PM EST
1/3/2012 Number of bank failures fell in 2011The number of banks that failed in 2011 dropped to 92 from 157 in 2010.

Source:AHN Topics:Economy, Business And Finance, Financial And Business Service, Banking

5:30 PM EST
12/21/2011 Bank of America to settle Countrywide discrimination suit for $335 millionBank of America (BoA) will settle a dispute with the U.S. Justice Department stemming from home loan discrimination. Authorities say BoA's Countrywide unit discriminated against 200,000 African-American and Hispanic borrowers who qualified for prime loans but were nonetheless pushed to sign riskier subprime loans.

Source:AHN Topics:Crime, Law And Justice, Corporate Crime, Economy, Business And Finance, Company Information, Litigation And Regulation, Financial And Business Service, Banking

9:15 AM EST
12/16/2011 Fitch downgrades world's top banksFitch downgraded the debt rating of nine of the world's leading banks including Bank of American and Goldman Sachs.

Source:AHN Topics:Economy, Business And Finance, Financial And Business Service, Banking, Company Information, Credit Ratings

10:16 AM EST
12/9/2011 Moody's downgrades top three French banksMoody’s announced Friday it was downgrading the credit rating of all three of France’s top banks because of the difficulty they have borrowing money.

Source:AHN Topics:Economy, Business And Finance, Financial And Business Service, Banking, Macro Economics, International Economic Institution, Consumer Goods

7:15 AM EST
12/9/2011 Italian terrorist group claims credit for bank letter bombItalian far-left group Federazione Anarchica Informale (FAI) has claimed responsibility for a letter bomb sent Thursday to Deutsche Bank, Germany's largest bank.

Source:AHN Topics:Unrest, Conflicts And War, Act Of Terror, Economy, Business And Finance, Financial And Business Service, Banking