JPMorgan Chase & Co. and Wells Fargo & Co., lost US$6.5 billion in combined equity that threatened levels of capital across the industry.
Industry
Merkel pushes for free trade but adds EU must not forget US spying
Angela Merkel wanted to push for free trade but told EU allies not to sweep America's secret surveillance under the carpet.
Interest rate rise, stock price fall affect consumer sentiment
The increase in interest rates and decrease in stock price took off the glow in consumer sentiment. In early July, fears regarding increasing interest rates and decreasing share costs dinged US consumer sentiment.
Risk council designates AIG and GE Capital as systematically important
The Financial Stability Oversight Council designated American International Group and GE Capital as systemically important to the financial system.
Trade outlook in China worsens as exporters lose trading confidence
China trade outlook worsens as exporters lose trading confidence. China trade outlook worsens as exporters lose trading confidence. Traders are apprehensive as they face weak external demand, along with rising labour costs and the seen rise of the yuan currency.
Latest News
Bangladesh dubbed as king in the knitwear manufacturing and exporting industry. Bangladesh is dubbed as the hero in the knitwear manufacturing and exporting industry.
Prime Minister Shinzo Abe faced a tough test on whether or not permit foreign firms operating in Japan to easily fire out workers after IBM was sued for illegal termination of employees.
UBS gained back the title of largest private bank UBS gained back the title as the world's largest private bank as fresh client funds surged in the previous year.
Hedge funds sees a decline for the first time in eight months Hedge funds recorded their first monthly decline in eight months this June, as they battled volatile stock and bond markets.
US hospitals shifted from the conventional paper record keeping to standardized electronic health records after receiving funds from the federal government.
The IMF announced that the euro zone must take a coordinated action to revive economic growth The International Monetary Fund (IMF) said in a strongly worded statement that the euro zone must take a coordinated action to revive economic growth.
Asian share rose amidst investor's worries Asian shares rose after tracking a rally on Wall Street which was spurred by gains that were capped by investors' nervousness over the Beijing drive to reform credit and the implications of tighter U.
Shareholders for US Airways approved the merger for American Airlines Shareholders of US Airways announced that they have approved of the merger with American Airlines.
Koreans, especially those in the business industry, felt 'shamed' by Asiana's plane crash.
