The scope of the investigations that are unfolding in the wake of the charges against Barclay’s Bank that it rigged the London Interbank Offered Rate (Libor) have taken on the proportions of a major catastrophe. “17 of the 24 largest …
American International Group announced that its life and retirement business, SunAmerica Financial Group, Inc., has signed a definitive agreement with The Hartford Financial Services Group Inc. to acquire Woodbury Financial Services, Inc., an independent broker-dealer. Once the transaction is finalized, …
Home and auto insurer Allstate Corp swung to a profit in the second quarter, smashing recently lowered Wall Street expectations, after its disaster losses were less than half of the record-breaking level they hit last year. Shares rose 3.6 percent …
President Barack Obama announced new U.S. sanctions on Tuesday against foreign banks that help Iran sell its oil and said the measure would increase pressure on Tehran for failing to meet its international nuclear obligations. Obama’s decision, in an executive …
Allen Stanford’s U.S. court-appointed receiver may keep control of the process to collect and distribute the convicted Ponzi schemer’s assets to victims, defeating a bid by Caribbean liquidators, a U.S. federal judge has ruled. U.S. District Judge David Godbey in …
Hundreds of millions of people across India were left without power on Tuesday in one of the world’s worst blackouts, trapping miners, stranding train travelers and plunging hospitals into darkness when grids collapsed for the second time in two days. …
Leading European banks reported dismal profits on Tuesday, blaming everything from the continent’s debt crisis and Spain’s property market crash to Facebook’s disastrous stock market debut. Within a space of an hour UBS of Switzerland, Deutsche Bank, BBVA of Spain …
Aon Infrastructure Solutions, the global risk advisory group for alternative project delivery of Aon plc, announced that Tariq Taherbhai has joined the firm as a director of the unit. He has “extensive legal experience and contractual risk management expertise in …
