Economy, Banks | featured news

The Japanese stock market shot up after a three-day public holiday, catching up on this week’s global markets rally as investors took an upbeat view of the world’s economic prospects.

An alarmed industry tells Congress, White House that severe pay restrictions would punish many for the sins of a few and hurt broader economy.

Developing nations face budget shortfalls of up to $700B in 2009 due to global financial crisis.

The Royal Bank of Scotland will later report what is expected to be the biggest annual loss in UK history.

House members want the eight big banks to increase their lending and explain what they are doing with the taxpayers’ money.

President Barack Obama's top economic adviser would not rule out on Sunday that more money may be needed to stabilize the financial system as a deep recession increases banks' losses.

Iceland's Minister of Business Affairs Bjorgvin Sigurdsson resigned Sunday, three months after the collapse of several of the country's leading banks and its stock market.

The FDIC announced 1st Centennial Bank of California was closed by the California Department of Financial Institutions.

John A. Thain, the former chief executive of Merrill Lynch, resigned after Bank of America suffered unexpected losses stemming from its acquisition of the giant brokerage.