BERLIN (Reuters) - The German Finance Ministry said on Saturday it was not aware of any agreement by euro zone members to provide a multi-billion euro bailout package for heavily indebted Greece.
"We are not aware that this is being planned," a ministry spokesman said, adding that Greece had not requested ...More
PALO ALTO, California (Reuters) - The United States should rethink domestic and global financial regulation, Lawrence Summers, director of the White House's National Economic Council, said on Friday, outlining six "imperatives."
"There is every reason to believe that pure market solutions are not viable," Summers told a Stanford Institute for ...More
NEW YORK (Reuters) - Bankrupt Nortel Networks Corp on Friday posted a 62 percent drop in quarterly revenue, as customers cut spending in the face of uncertainty about its bankruptcy proceedings and the shaky economy.
Fourth-quarter revenue dropped to $794 million from $2.1 billion in the year ago period. It ...More
NEW YORK (Reuters) - On Wall Street, massaging the balance sheet is a time-honored practice.
But did Lehman Brothers Holding Inc <LEHMQ.PK> cross a line in the routine manipulation of its balance sheet, as described by an independent examiner?
That is the central question to emerge from the examiner's ...More
WASHINGTON (Reuters) - The Park Avenue Bank, a New York City-based institution, was among three banks seized by regulators on Friday, and is the second area bank to fail in two days.
The other banks seized on Friday were small institutions in Florida and Louisiana, and brought the total number of ...More
WASHINGTON (Reuters) - An explosive report by a court-appointed examiner on the collapse of Lehman Brothers <LEHMQ.PK may prove to be a roadmap for prosecutors to bring criminal cases against the investment bank's former executives, legal experts say.
The 2,200-page report could lay the groundwork for felony charges ...More
SAN FRANCISCO (Reuters) - Apple Inc has awarded its chief operating officer a bonus valued at $22 million for leading the company while Chief Executive Steve Jobs was on 6-months' medical leave last year.
The cash-and-stock award came at Jobs' recommendation, and was made in recognition of Tim Cook's "outstanding ...More
NEW YORK (Reuters) - Investors will try to tack another leg on to the year-long U.S. stock rally, looking to next week's economic data and statement from the central bank for evidence the recovery is still on track.
After tumbling during the fourth-quarter earnings season, the S&P 500 ...More
NEW YORK (Reuters) - Author Michael Lewis, known for exposing the culture of excess at Solomon Brothers with his book "Liar's Poker," says Wall Street bonuses at banks bailed out by Washington are "a very elegant form of theft."
Lewis's latest book "The Big Short: Inside the Doomsday Machine ...More
BOCA RATON, Florida (Reuters) - The pace of financial regulatory reform remains slow even as the global economy struggles to recover from a crisis that many say was caused by inadequacies in the current system, attendees at an annual financial conference said this week.
Now 18 months after the financial crisis ...More
