STEVENSON JACOBS

AP Business Writer
Add To Watchlist

Americans save more but earn less as rates fall

The U.S. is finally becoming a nation of savers. Now if only we could get something for our money.

Continue reading this entry ...

FDIC boss: Big banks still aren't lending enough

The head of the Federal Deposit Insurance Corp. said Tuesday she's "very worried" that the nation's biggest banks aren't lending enough and warned the economy could take another turn for the worse without increased access to credit.

Continue reading this entry ...

JPMorgan won't poach talent from Citi, BoA

JPMorgan CEO Jamie Dimon said Tuesday his bank won't try to hire top performers at Citigroup and Bank of America, days after the government's "pay czar" slashed pay for the biggest earners at JPMorgan's troubled rivals.

Continue reading this entry ...

Fed plan to police bank pay unlikely to curb risk

It's the boldest idea yet to rein in Wall Street recklessness: Put the Federal Reserve in charge of policing not just the nation's banks, but also how much their employees are paid.

Continue reading this entry ...

In a bad economy, banks trade their way to profits

The big banks are showing they can still make money, even as Main Street struggles — though not from lending, refinancing homes or other bread-and-butter business.

Continue reading this entry ...

Loan losses could eclipse positive bank earnings

If the nation's major banks report big third-quarter profits, don't take the numbers at face value.

Continue reading this entry ...

Next asset bubble could come sooner than you think

The next financial bubble could come sooner than you think.

Continue reading this entry ...

Gov't helps keep loans cheap — if you can get one

It's a good time to borrow money for a home, car or small business.

Continue reading this entry ...

Risk-taking is back for banks 1 year after crisis

A year after the financial system nearly collapsed, the nation's biggest banks are bigger and regaining their appetite for risk.

Continue reading this entry ...

Bank insurance fund down 20 percent in 2Q

The agency that guarantees bank deposits said Thursday there are no immediate plans to borrow money from the government to bolster its insurance fund, which fell 20 percent to $10.4 billion in the second quarter.

Continue reading this entry ...

New AIG CEO to receive $7 million annual salary

American International Group Inc.'s new CEO will be paid a yearly salary worth $7 million and could earn millions more in performance-based incentives, the bailed-out insurance giant said Monday.

Continue reading this entry ...

Profits embolden US companies, but revenue lacking

Corporate America is turning a profit again, but only by spending less, not making more.

Continue reading this entry ...

CIT says bankruptcy filing still a possibility

CIT Group Inc. said in a regulatory filing Tuesday that it might have to file for bankruptcy protection if not enough bondholders participate in a recently launched debt exchange.

Continue reading this entry ...

Meltdown 101: How does Goldman Sachs do it?

Another financial quarter, another period of blowout profits for Goldman Sachs. With some of the other big banks still losing money, many may wonder: How does Goldman do it?

Continue reading this entry ...

Sources: CIT Group board OKs rescue loan

The board of CIT Group Inc., one of the nation's largest lenders to small and midsize businesses, approved a deal with major bondholders to keep the company out of bankruptcy, said two people briefed on the talks.

Continue reading this entry ...

Death and taxes: Big IRS bill looms for MJ estate

The Tax Man is in the mirror for the estate of the late King of Pop.

Continue reading this entry ...

Singer's luxe lifestyle aided by Wall Street firms

Music lovers weren't the only ones drawn to the King of Pop. Wooed by his global fame and earning power, a bevy of financial firms ponied up tens of millions to finance the singer's luxe lifestyle and kick-start his troubled career.

Continue reading this entry ...

AP Exclusive: Jackson said net worth $236M in 2007

It's one of the biggest mysteries in the Michael Jackson saga: How much was the lavish-spending, massively debt-ridden pop icon really worth?

Continue reading this entry ...

Banks to return $68 billion in bailout money

Ten of the nation's biggest financial companies got a green light Tuesday to return $68 billion in federal bailout money — freeing the banks from limits on executive pay and leaving the government with a small gain on the rescue cash.

Continue reading this entry ...

Feds set to say which banks can repay bailout cash

The government is set to announce as early as Tuesday morning which of the country's biggest banks will be able to repay billions in federal bailout dollars in a decision that risks creating a two-tier banking system — winners and losers.

Continue reading this entry ...

Race to repay bailout could shortchange taxpayers

The race to repay federal bailout money could end up reducing the amount that taxpayers eventually get back.

Continue reading this entry ...

Bailout redux: Repaid money could go back to banks

After acing their "stress tests," some big banks are rushing to raise capital and return billions in federal bailout money. But don't expect it to replenish government coffers.

Continue reading this entry ...

Banks scramble for capital after 'stress tests'

Wells Fargo and Morgan Stanley said Thursday they'll try to raise billions in fresh capital, becoming the first major banks to scramble for money after the government said 10 large financial institutions need $75 billion in new funds.

Continue reading this entry ...

Hedge funds stand to gain, but also face oversight

Hedge funds are being offered a sweet deal to help the Obama administration rescue the U.S. banking system: A low-risk opportunity to scoop up soured bank assets that could one day make them a killing.

Continue reading this entry ...

Bank rescue: Wall St. likes it, but will it work?

Wall Street gave the new bank rescue plan an enthusiastic embrace. Whether it will actually work — restoring solvency to the banks, restarting lending and ultimately lifting the economy out of recession — is far less clear.

Continue reading this entry ...