EconoBlog

Oracle today announced that it will host a Financial Services Global Leadership Summit, May 7-9, 2008, at the InterContinental Hotel in Athens, Greece. The summit will provide financial services industry professionals an opportunity to network with, and learn from, respected thought leaders in the banking, insurance and capital markets sectors - as well as explore […]

In light of entering into an agreement to merge with JPMorgan Chase, The Bear Stearns Companies Inc. (NYSE: BSC) will not be announcing its first quarter 2008 financial results on Monday, March 17, 2008, as previously scheduled.
And a cool one from their website:
“Bear Stearns
Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is a […]

Bear Stearns was bought by its competitor JPMorgan Chase for a bargain-basement price of $2 a share, or $236.2 million.
The stunning last-minute buyout was aimed at averting a Bear Stearns bankruptcy and a spreading crisis of confidence in the global financial system sparked by the collapse in the subprime mortgage market. Bear Stearns was the […]

Consumer groups in four states asked congressional banking and finance committees on Friday to conduct hearings on Bank of America Corp.’s proposed $4.1 billion buyout of struggling mortgage lender Countrywide Financial Corp. The consumer groups want lawmakers to press the companies to explain how borrowers having trouble making mortgage payments and those at risk […]

Romania’s central bank BNR raised its benchmark interest rate one point, the third consecutive increase, as inflation threatens to accelerate and the local currency weakens. The central bank increased its Monetary Policy Rate to 9 percent, the highest since 2005, from 8 percent, the bank said in an announcement today.

India’s central bank has kept interest rates on hold at 7.75%, disappointing those who were hoping for a cut. Economists said that rising food and fuel prices were more worrying for the Reserve Bank of India (RBI) than the impact of the sub-prime crisis. Indian interest rates rose five times between June 2006 and last […]

Egg, the Internet bank owned by Citigroup will withdraw credit cards from 161,000 customers following a risk review. The company has given seven percent of its credit card customers 35 days’ notice that it was ending their card agreements.“The credit profiles of affected customers had deteriorated between the time they joined Egg and the acquisition […]