The bailed-out insurer American International Group confirmed on Monday that it had paid back nearly $4 billion in government loans in its single largest cash payment so far to reduce its debt to taxpayers, Reuters reports. The partial repayment of a Federal Reserve Bank of New York credit facility came after the International Lease Finance [...]
Credit to European companies fell in June in a sign that business expansion remains tepid, according to data issued by the European Central Bank Tuesday, Jack Ewing reports in The New York Times. Growth in so-called M3, a measure of bank deposits, short-term debt and other elements of the money supply, rose at an annual [...]
Wells Fargo & Company said Wednesday that its second-quarter profit rose 12 percent, and the results show signs that bad loans are easing, The Associated Press reports. The bank, based in San Francisco, posted net income applicable to common shareholders of $2.88 billion, or 55 cents a share, up from $2.58 billion, or 57 cents [...]
India’s Tata Steel has started talks with lenders, including Citigroup, to refinance as much as £3.5 billion ($5.4 billion) in loans for its British unit, Bloomberg News reported, citing sources with knowledge of the matter. Royal Bank of Scotland, Standard Chartered and BNP Paribas are also part of the negotiations, according to Bloomberg News. Tata [...]
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