Business

Royal Bank of Scotland and HBOS almost collapsed in October last year, the governor of the Bank of England tells the BBC.

The number of newly laid-off workers seeking unemployment benefits fell for the third straight week. Initial claims for unemployment insurance dropped to a seasonally adjusted 530,000 from 551,000 the previous week. Economists had expected claims to rise.» E-Mail This     » Add to Del.icio.us

World famous investor Warren Buffet has been singing the praises of his Trands suits, which come from a company in China. He even appears in a promotional video. In it he says he got nine Trands suits, and then he got rid of all his old ones. Since Buffet made his fashion statement, shares of the Chinese company have jumped 70 percent.» E-Mail This     » Add to Del.icio.us

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Bank of America and JPMorgan Chase are moving to overhaul overdraft fees and practices that have been criticized as excessive and harmful to consumers. Wells Fargo says it will allow customers to opt out of overdraft services. The concessions come as Congress is set to impose new restrictions on banks' credit card services.» E-Mail This     » Add to Del.icio.us