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Santander said to take Bradford & Bingley deposits
LONDON (AP) -- The troubled British mortgage lender Bradford & Bingley will be nationalized and sold off in parts, with Spanish banking giant Santander SA taking over its retail deposits and branch network, British media reported Monday.
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European bank giant Fortis partially nationalized
BRUSSELS, Belgium (AP) -- Dutch-Belgian bank and insurance giant Fortis NV was given a 11.2 billion euro ($16.4 billion) lifeline to avert insolvency as part of a wider bailout plan agreed to by Belgium, the Netherlands and Luxembourg, officials said Sunday.
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House GOP leaders endorse $700B financial bailout
WASHINGTON (AP) -- Congressional leaders and the White House agreed Sunday to a $700 billion rescue of the ailing financial industry after lawmakers insisted on sharing spending controls with the Bush administration. The biggest U.S. bailout in history won the tentative support of both presidential candidates and goes to the House for a vote Monday.
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Reports: Wachovia in talks with potential buyers
NEW YORK (AP) -- At least two major banks were reportedly in talks Sunday to buy Wachovia Corp., the latest U.S. bank to be the focus of investor anxiety over mounting losses tied to toxic assets.
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Environmentalists see red in Ohio energy debate
COLUMBUS, Ohio (AP) -- Environmental groups complained Friday that electric companies are trying to skirt a new Ohio law that requires utilities to produce part of their power using wind, solar or other renewable sources.
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American Greetings 2Q profit falls 73 pct on costs
PORTLAND, Ore. (AP) -- American Greetings Corp. said Friday that second-quarter profit dropped 73 percent on lower margins and higher costs as the greeting card company invested in products to drive sales growth.
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Freddie Mac announces organizational changes
WASHINGTON (AP) -- Three top executives are departing mortgage finance company Freddie Mac, which was seized by the government nearly three weeks ago.
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Businessman gets 127 years in investment scam
RIVERSIDE, Calif. (AP) -- Businessman Daniel W. Heath was sentenced Friday to 127 years in prison for running a $190 million investment scam that prosecutors said bilked many elderly investors of their life savings.
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