Insured US banks post 94% drop in Q3 net income

The Federal Deposit Insurance Corporation has reported that commercial banks and savings institutions insured by it in the US have reported a net income of $1.7 billion in the third quarter of 2008, a decline of $27 billion or 94% from the $28.7 billion

Stores court careful shoppers on Black Friday

NEW YORK (Reuters) – Stores across the United States hope to ring in billions of dollars in holiday sales beginning on Friday, but shoppers concerned about a shrinking economy have vowed to rein in their spending.

Shoppers arrive early for U.S. holiday sales

NEW YORK (Reuters) – Early bird shoppers filed into U.S. stores on Thanksgiving day on Thursday, drawn by bargains from retailers who hope to salvage what could be a disastrous holiday sales season.

Turkey, crab, for U.S. troops’ Afghan Thanksgiving

BAGRAM, Afghanistan (Reuters) – At a canteen inside a U.S. Army Forward Operating Base, hundreds of soldiers stand patiently in line for a traditional Thanksgiving meal to be eaten at tables decorated with paper turkeys.

Fed Approves BoA’s Acquisition of Merrill: Ramifications?

the Federal Reserve governing board announced its approval of the buyout of Merrill Lynch (MER) by Bank of America (BAC). The acquisition of New York-based Merrill Lynch, one of the premier wealth management and advisory companies, allows BoA to create a

Wells Fargo ordered to pay whistle-blower

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