HSBC customers are reporting that they are unable to access their cash.
Banks are shedding jobs worldwide as stricter regulations and a tough second quarter for trading income take their toll on investment banking units in particular.
Moody’s downgrade of 12 British banks last week is irrelevant to the current state of the UK banking sector, analysts told CNBC.com, adding that hell has a better chance of freezing than any British bank failing.
The Canadian dollar got hammered in September, thanks to falling commodity prices and general risk aversion. But these strategists say the loonie is ready to lift again.
The uncertain economic climate has dimmed job prospects for the rest of the year and going forward into 2012, with investment banks especially vulnerable to cuts, Guy Day, CEO of recruitment firm Ambition told CNBC.
H&R Block said Tuesday that it won't offer refund anticipation loans next tax season because it's getting more new clients and the appeal of the high-cost loans is shrinking.
Stocks rallied in the final hour to finish near session highs Monday, erasing their earlier losses in choppy trading, following an FT report that China was in talks with Italy to purchase its bonds.
Britain’s banks will face an annual bill of as much as £6 billion ($9.5 billion) to comply with the reforms of the Vickers Commission, according to the panel’s final report, published on Monday. The FT reports.
Straight from the mines, rough gold goes through a highly complex process, and often travels around the world before it ever makes it to the consumer.
The SPDR Gold Trust, with over $60 billion in assets, is far and away the largest gold fund.
Battered by a weak economy, the nation’s biggest banks are cutting jobs, consolidating businesses and scrambling for new sources of income in anticipation of a fundamentally altered financial landscape requiring leaner operations, the New York Times reports.
Oil companies are understood to be preparing to move back into the North African country, which used to pump 1.6 million barrels per day before the uprising against Muammar Gaddafi's government began six months ago.
Stocks accelerated their selloff to finish near session lows in light, choppy trading Friday as investors were reluctant to remain in the market ahead of a weekend, amid worries over a global recession in addition to the ongoing euro zone jitters.
In a global economy that has been plagued by troubles in the world’s financial systems, the words “safe” and “bank” still give investors pause. The shakeup of banking systems around the world raises the question: "Which banks are the safest?"
Futures were off their worst levels Friday, but were still lower, pressured by losses in Asia and Europe and many investors concerned the world economy is on the brink of another recession.
Stocks finished near session lows in choppy trading Wednesday, with the Dow and S&P wiping out all of the previous session's gains led by financials, as investors continued to cautiously monitor developments in the European banks.
Futures continued to decline Wednesday after the previous session's sharp rally as investors remained cautious over the prospects for the U.S. economy and the ongoing euro zone crisis.
Here's why you should keep a close eye on these six stocks.
Most of the pundits had expected a relief rally in stocks following a resolution to the debt ceiling crisis. That did not happen. So what gives? Why is the market behaving so poorly despite the hard-fought compromise by lawmakers?
Private sector payrolls rose at a faster pace than expected in July, but a surprising increase in layoffs helped push the number of announced jobs cuts to a 16-month high, separate reports showed.