United Commercial Bank, a big San Francisco bank with branches in China, was closed by state regulators on Friday and its banking operations were acquired by East West Bancorp Inc, also active in both nations.
Chinese state-owned firms will pay a smaller cumulative dividend to the central government this year because their profits have fallen, the Economic Observer reported on Saturday.
Private equity firm Blackstone Group LP posted a forecast-beating quarterly profit on Friday and said it is gearing up for more deals and IPOs as the lending and equity markets recover.
Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.
Freddie Mac, the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.
Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year.
Citigroup Inc said on Friday that new accounting rules for securitization trusts may prevent the bank from funding some of its assets with a top debt rating.
U.S. insurance regulators on Friday approved development of a new model for sizing up risks in mortgage bonds held by insurers that cuts reliance on traditional credit rating companies.
The trial of two former Bear Stearns hedge fund managers on fraud charges ended on Friday with sharp arguments over the meaning of the word "toast" in one defendant's email about the subprime mortgage market.
The International Monetary Fund said on Friday its executive board completed a review of Sri Lanka's economic performance and released $329.4 million from a stand-by loan agreement.
JPMorgan Chase & Co CEO Jamie Dimon's desire to expand his bank's brokerage unit has resulted in an unexpected new hire -- his dad.
Global equity markets ended the week with gains on Friday, shrugging off initial shock at U.S. jobs data, but oil prices never fully recovered.
Brazil will publish on Monday a preliminary list of U.S. goods it intends to hit with trade sanctions in retaliation for Washington's cotton subsidies, a senior government official told Reuters.
Bank of America Corp will suspend its federally-backed student loan program by Dec. 5, the company said in a letter to colleges and universities on Friday, as the U.S. gets ready to end the program entirely.
The following are New York
midsession prices and market updates for precious metals and
The International Monetary Fund warned global financial leaders on Friday not to repeat the mistakes of the Great Depression and choke off emergency support for their economies too quickly.
U.S. stocks barely budged in a choppy trading session on Friday, lifted by several broker upgrades that offset disappointing data showing the unemployment rate rose to its highest in more than 26 years.
Global equity markets rebounded on Friday from the initial scare brought on by a grim U.S. jobs report after investors decided the data were not so bad.
Gold futures in New York rose to a record above $1,100 per ounce on Friday as the dollar eased in the wake of disappointing U.S. employment data.
U.S. stocks edged up after a choppy trading session on Friday, buoyed by brokerage upgrades that offset disappointing unemployment rate that rose to its highest in more than 26 years.
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