Greece implemented the biggest debt writedown in history on Monday, when it swapped the bulk of its privately-held bonds with new ones worth less than half their original value. A Finance Ministry statement said bonds issued under Greek law with a total face value of euro177.2 billion ($232.5 billion) were […]

Citigroup Inc may be a surprise winner when the Federal Reserve reveals the results of bank stress tests designed to gauge the health of the biggest U.S. banks. The third-largest U.S. bank may receive permission to increase its penny-per-share quarterly dividend, analysts say, something long-suffering shareholders have been waiting for […]

UnionBanCal Corp., which is part of Japan’s Mitsubishi UFJ Financial Group Inc., is buying bank holding company Pacific Capital Bancorp for $1.51 billion in order to expand its presence in California. Under the deal announced Monday, Pacific Capital stockholders will receive $46 per share, which is a 60 percent premium […]