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Deal Means Big Payout for Wachovia Chiefs
Ten Wachovia executives are eligible to collect as much as $98.1 million in severance if Wells Fargo completes its purchase of the bank by Dec. 31.
Wall Street Journal

Wachovia bank executives prepare for large payout
In the US, the Wachovia banking group has announced that ten of its top executives may be entitled to US$98.1 million in severance pay.
Big News Network

Why banks need stronger medicine
The latest round of government help for Citi buys the troubled bank some time. But the financial sector will need much stronger medicine before a recovery can get under way.
CNN Money

Stocks Soar on Citigroup Rescue
Stocks extend rally after bailout of Citi alleviates some worries bank worries.
ABC News

Bank of Korea Joins Aid Effort
The Bank of Korea will contribute as much as $3.34 billion to a government-led effort to thaw the nation's frozen debt market, but analysts said the initiative won't be enough to restore calm.
Wall Street Journal

Citi Coup: Stocks Soar Nearly 400 Points on Citigroup Rescue
Stocks extend rally after bailout of Citi alleviates some worries bank worries.
ABC News

Government Offers Additional $20B to Shore UP Citi
Citigroup stock has moved higher after the government announced a second effort to shore up confidence in the troubled bank. The Treasury Department will backstop the company's bad assets while providing an additional $20 billion in emergency loans.
NPR

DFM, ADX fall steeply
The Abu Dhabi Securities Exchange fell more sharply than yesterday, losing 3.44% of its value. Commercial Bank International (CBI) was the biggest riser, going up by 10%. The Dubai Financial Market fell even more steeply, losing 5.33% of its value. All 23 listed companies fell, with not a single upward movement at market close.
AME Info

Online Fraud Costs May Be $5.3 Billion, Symantec Says
Online criminals stole credit-card, bank and gaming accounts over a one-year period that were potentially worth $5.3 billion, fueling a thriving underground market for consumers' identities, a Symantec Corp.
The Salt Lake Tribune

Banks win delay in trial of Huntsman lawsuit
Credit Suisse Group AG and Deutsche Bank AG won a court ruling delaying until May the trial of a lawsuit over the planned takeover of Huntsman Corp. by Hexion Specialty Chemicals Inc.
The Salt Lake Tribune

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Archived "business - bank of america" news stories.

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November 2009
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