*CEO Nixon to be replaced by executive Dave McKay. TORONTO, Dec 5- Royal Bank of Canada Chief Executive Gordon Nixon will step down next summer after 13 years at the helm of Canada's largest bank, RBC said on Thursday as it announced a stronger-than-expected quarterly profit.» Read More
Former Allstate CEO Edward Liddy will be the new CEO of AIG, which was rescued by an $85 billion loan from the Fed, in exchange for an 79.9% stake in itself.
What’s insured, what’s not, and what to do if you’re worried about your bank’s future.
American International Group will avoid bankruptcy with the help of an $85 billion bridge loan from the federal government, in exchange for an 80 percent stake in itself, sources told CNBC.
Ask Cramer and he'll tell you that the regulators didn't regulate. And that's why we're in this mess.
If Washington doesn't want to see the Dow lose another 1,000 points, it better help this company.
If this company goes under, Cramer says, the market will freeze.
American International Group will get an $85 billion loan from the federal government in exchange for an 80% stake in itself. Was this the right move?
Investment experts from around the globe offer their advice on what investors can do in the wake of the latest financial turmoil.
Dick Fuld and Robert Willumstad missed plenty of chances to save their firms. Now one company is gone and the other is in danger of collapse.
American International Group, which is seeking up to $40 billion in bridge financing from the Federal Reserve, is no longer in talks to receive help from billionaire investor Warren Buffett, CNBC has learned.
It would be a "tragedy" if the government let this company fail, he says.
Don't count on Warren Buffett to "rescue" AIG as its white knight. A few minutes ago, CNBC's David Faber reported on the air that Buffett is "no longer" in talks with the insurer "about an investment or anything else."
Troubled insurance giant American International Group has hired JP Morgan Chase to advise on raising new capital or come up with some kind of deal that infuses the company with enough money to prevent a possible dowgrade, CNBC has learned..
Investors skittish about further losses in the financial industry have pounced on the American International Group, the beleaguered insurance company that has reported some of the biggest losses in the spreading credit crisis, said the New York Times.
While the financial sector looks gloomy as Lehman Brothers continues its search to find a suitor, there are still attractive companies in the sector, Wouter Weijand, chief investment officer for high income equity of Fortis Investments, told CNBC Friday.
Are you paying PMI to your lender? Might be time to shop for a new mortgage.
Former AIG Chairman and Chief Executive Officer Hank Greenberg and other former executives at the insurance giant have reached a settlement with a shareholder group suing them, a source close to the matter has told CNBC.
Use our new interactive tool to calculate where you should be putting your money each month.
A Berkshire Hathaway subsidiary's move to stop insuring bank deposits above federal limits apparently reflects Warren Buffett's worries about future bank failures. Several reports say that Kansas Bankers Surety in Topeka is getting out of the business of backing deposits above the $100,000 limit guaranteed by the Federal Deposit Insurance Corp. for many bank accounts. And the Wall Street Journal says this morning that the decision came from Buffett himself. "Two people briefed on the matter said the order was made Monday by Mr. Buffett."
As job losses in the United States have leaped, a second economic stimulus package has become “warranted and necessary,” House Majority Leader Rep. Steny Hoyer (D-Md.) told CNBC Monday.