New credit downgrades to a number of banks by S&P and still-negative chart patterns mean Bank of America (BAC) and Citigroup (C) are still very much out of favor. After the stock market close on Tuesday, S&P downgraded 15 big banks to reflect the results of their new credit criteria. […]

Major central banks around the globe took coordinated action Wednesday to ease the strains on the world’s financial system, saying they would make it easier for banks to get dollars if they need them. Stock markets and the euro rose sharply on the move. The U.S. Federal Reserve, European Central […]

The proposed acquisition of  troubled FinBank by First City Monument Bank (FCMB) has suffered a major setback, investigations have shown. This followed recent discovery of hidden bad loans and huge debt profile of the troubled bank. A source at the Securities and Exchange Commission (SEC) yesterday in Lagos said that […]