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Spain is trying to avert a failure of Bankia, its biggest mortgage lender, which could threaten the Spanish banking industry and reverberate through Europe and beyond.
WASHINGTON (Reuters) - A Senate panel voted on Thursday to authorize $631.4 billion in defense spending for the 2013 fiscal year, blocking plans to cut the Air Force and ordering offsetting reductions in Pentagon civilian personnel to stay within the president's budget limits.
After sucessfully going public with the largest-ever IPO for a tech company in history, Mark Zuckerberg had one problem left to address...what to set as his Facebook status.
NEW YORK/LONDON (Reuters) - JPMorgan Chase & Co lost $15 billion in market value and a notch in its credit ratings on Friday while a chorus of regulators and politicians reacted to its surprise $2 billion trading loss by demanding stiffer oversight for the banking industry.
(Reuters) - JPMorgan Chase & Co, the biggest U.S. bank by assets, said it suffered a trading loss of at least $2 billion from a failed hedging strategy, a shock disclosure that hit financial stocks and the reputation of the bank and its CEO, Jamie Dimon.
WASHINGTON (Reuters) - Taxpayers could realize a profit of more than $15.1 billion from the massive government bailout of insurer American International Group, a congressional watchdog said.
SAN FRANCISCO (Reuters) - Facebook Inc aims to raise about $10.6 billion in Silicon Valley's largest IPO, dwarfing the coming-out parties of tech companies like Google Inc and granting the world's largest social network a market value close to Amazon.com's. The eight-year-old social network that began as Mark Zuckerberg's Harvard dorm room project indicated an initial public offering price range
www.ted.com Comic author Rob Reid unveils Copyright Math (TM), a remarkable new field of study based on actual numbers from entertainment industry lawyers and lobbyists.TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes. Featured speakers have included Al Gore on clim
The International Monetary Fund’s extra lending capacity could be used if the euro zone crisis worsens or global financial conditions deteriorate.
WASHINGTON (Reuters) - The International Monetary Fund said on Wednesday it had raised $320 billion so far in a bid to boost its firepower to deal with the euro zone debt crisis, with Poland and Switzerland joining the effort.
When Instagram launched its first app in October 2010, it did not strike most people as the kind of startup that would be acquired for $1 billio…
SAN FRANCISCO (Reuters) - Facebook will pay $1 billion in cash and stock for Instagram, a 2-year-old photo-sharing application developer, in its largest-ever acquisition just months before the No. 1 social media website is expected to go public. The price was stunning for an apps-maker without any significant revenue, even when measured by the lofty standards of Silicon Valley, where startup valu
(Reuters) - Coty Inc disclosed on Monday that it had offered $10 billion for Avon Products Inc but the larger company, which is grappling with sliding sales and a bribery probe, rejected the bid as too low and "opportunistic".
HONG KONG (Reuters) - - American International Group (AIG) raised about $6 billion by cutting its AIA Group stake in a deal that was priced at the bottom of the bailed-out U.S. insurer's own expectations.
NEW ORLEANS (Reuters) - The estimated $7.8 billion deal struck by BP Plc with businesses and individuals suing over the massive 2010 Gulf of Mexico oil spill could speed up payments to thousands of claimants and offers lawyers a potential windfall in legal fees.
WASHINGTON (Reuters) - Five big U.S. banks accused of abusive mortgage practices have agreed to a $25 billion government settlement that may help roughly one million borrowers but is no magic bullet for the ailing housing market.
Mexican troops have made a historic seizure of $4 billion of pure methamphetamine in the western state of Jalisco, an amount roughly equivalent to the entire economy of the Isle of Man.
Nearly two million Americans could benefit from mortgage relief from the nation’s biggest banks, as part of a broad government settlement to be announced as early as Thursday.

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