Business

January 14, 2011

Turks and Caicos Banking Company restructures its operations

The Turks and Caicos Banking Company, the country's oldest independent private bank, has announced plans to restructure…

January 13, 2011

Fundraising pressure on China’s banks unlikely to ease

Despite a flurry of deals last year that raised nearly $82 billion, stock and bond sales by China's…

January 13, 2011

Lehman sees $60 billion bankruptcy payout, needs time

Lehman Brothers Holdings Inc (LEHMQ.PK) said it will take longer than expected to win approval of a bankruptcy plan, and projects paying out $60.1 billion as it tries to settle differences with creditors owed six times that amount. Harvey Miller,…

January 13, 2011

Madoff victims win $7.2 billion from Picower estate

It's a landmark day for victims of Bernard Madoff's Ponzi scheme. A bankruptcy court judge approved the…

January 13, 2011

Auto bailout’s estimated cost to taxpayers: $19 billion

A Congressional oversight panel says that a "starkly improved" outlook for the auto industry has reduced the likely taxpayer loss on the bailout by more than half to about $19 billion. The previous estimate from the panel was that taxpayers would…

January 13, 2011

1 million homes repossessed in 2010

Foreclosures were at a record high in 2010, and more than 1 million people lost their homes, even as notices started leveling off during the end year. In total, there were nearly 2.9 million foreclosure notices filed during the year, according to…

January 10, 2011