Wachovia paying $160M to settle case involving laundering of Mexican drug money Banking giant Wachovia Corp. will pay $160 million to settle a federal investigation into laundering of illegal drug profits through Mexican exchange houses in the largest case of its kind ...
Bernanke tells Congress: Don't scale back Fed banking supervision Federal Reserve Chairman Ben Bernanke urged Congress Wednesday to let the Fed keep all of its banking oversight, arguing that information gleaned from that process helps the central bank guide the economy. Testifying ...
MIAMI (Reuters) - The Wachovia Bank unit of Wells Fargo & Co has agreed to pay $160 million to settle U.S. allegations that it laundered Mexican drug money. Under the agreement, Wachovia will forfeit $110 million, representing the proceeds of illegal narcotics ...
FTSE 100 shares posted solid gains on Wednesday as investors welcomed the US Federal Reserve's upbeat economic outlook, analysts said. London's benchmark index gained 0.43 percent to finish at 5,644.63 points. "The FTSE's early gains today were fuelled by yesterday's positive forecast ...
Italy's largest bank Unicredit says 4th quarter earns fell 27 percent Unicredit SpA, Italy's largest bank, on Wednesday reported a 27 percent drop in fourth-quarter net profit due to a decline in interest income and an increase in provisions to cover bad ...
DUBAI (Reuters) - Dubai World will offer banks a single proposal to repay in full the $26 billion debt it is renegotiating, with interest likely linked to LIBOR, Al Arabiya reported on Wednesday. Officials from Dubai and neighboring emirate Abu Dhabi have ...
New lending at 9 bailed-out banks plummets in January, but overall loan balances rise modestly The Treasury Department said Monday that new lending plummeted in January at the nine largest banks that have yet to repay their taxpayer bailouts. Treasury's monthly survey ...
Partly-nationalised Royal Bank of Scotland is planning a major debt restructuring, the Financial Times reported on Tuesday. The daily business newspaper, which cited people close to the bank, said that RBS wanted to buy back at least 10 billion pounds of its ...
Australia's ANZ Banking Group is looking to pull out of a tie-up with Saigon Thuong Tin Commercial Bank, the Vietnamese bank said, after opening a wholly-owned local unit in the communist state. "ANZ has actively sought partners" to buy its shares, Dang ...
Rafael Nadal, of Spain, hits to Mario Ancic, of Croatia, during their match at the BNP Paribas Open tennis tournament in Indian Wells, Calif., Monday, March 15, 2010. (AP Photo/Chris Carlson) Copyright 2010 AP News
