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GMAC bond exchange flop threatens bank bid (Reuters)
Auto and mortgage lender GMAC said on Wednesday that only a fraction of its bondholders agreed to swap their debt, raising doubts over the company's efforts to become a bank holding company and stay solvent.
Telegraph

US Dollar / Swiss Franc Tests Key Support Ahead of SNB Rate Decision
The Swiss Franc is positioned ahead key support against the US Dollar ahead of the upcoming interest rate announcement from the SNB, with the central bank...
Daily FX

Forex Market Expectations Mixed Ahead of SNB Rate Decision, Threatening Volatility (Euro Open)
The Swiss National Bank is set to announce interest rates in European hours. Expectations are mixed, with economists predicting a 50 basis point cut while...
Daily FX

A SNB Rate Hold Would Validate the Bullish Swiss Franc Technical Outlook
The Swiss National Bank is expected to cut their target rate by another 50bps bringing it down to 0.50% which would be just above the 0.3% of Japan's....
Daily FX

Principal Financial to Cut 550 Jobs at Des Moines Headquarters
Des Moines-based Principal Financial Group Inc. says it is cutting 300 jobs at its headquarters and around 250 in 45 other locations. The insurance, banking, retirement and asset management ...
Insurancejournal.com

World Bank to `fast-track` financial aid
The World Bank announced its 'fast-track' economic assistance program Wednesday, which aims to make $2 billion in financial aid available quicker to countries in dire economic condition.
CNN Money

Arch-dove Blanchflower to stand down from MPC
The man who tried, and failed, to get the Bank of England to cut interest rates faster and sooner in the face of gathering recession, David Blanchflower, is to leave the Monetary Policy Committee when...
Big News Network

Lawmakers rap Treasury on bailout plan (Reuters)
U.S. lawmakers on Wednesday threatened to withhold the remaining half of the $700 billion of financial bailout cash unless Treasury Department officials do more to help homeowners avoid foreclosure and push banks to extend more credit to consumers.
yahoo.com

Bank merger legal challenge fails
A last-ditch attempt to block the takeover of Halifax Bank of Scotland (HBOS) by Lloyds TSB was dismissed by a court on Wednesday, clearing the way for HBOS investors to vote on the bank's Government-...
Big News Network

Egg fined £720,000 for mis-selling PPI
City regulator FSA penalises online bank for 'unacceptable' practices in its sales of payment protection insurance for credit cards
Financial Times

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Archived "business - bank jpmorgan" news stories.

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