Archive for February 2009

UBS AG has agreed to pay $780 million and immediately disclose the names of about 250 secret account holders to avoid U.S. prosecution on a charge that Switzerland’s largest bank helped thousands of wealthy Americans …

Principal Financial Group Inc. may seek “strategic” investors as a way to raise capital as market conditions continue to deteriorate, the company said in a regulatory filing today, Bloomberg reported.

The company could also issue …

ITAGroup Inc. has cut its work force by 5 percent in response to a severe slowdown in company incentive programs.

The layoffs were made yesterday, two weeks after Wells Fargo & Co., one of ITA’s …

John C. Kline, facing bank foreclosures and multimillion-dollar court decrees on development deals, has filed for bankruptcy protection.

Kline claimed business debts of between $1 million and $10 million and assets in that same range …

The top 20 largest banks reported “a general trend of modestly declining total loan balances” in the fourth quarter, according to the first monthly bank lending summary issued Tuesday by the U.S. Treasury Department.

The …

Moline, Ill.-based Deere & Co. today announced that profits dropped 45 percent in its first fiscal quarter and said it has scaled back its 2009 outlook and suspended quarterly profit forecasts, the Associated Press reported. …

Omaha-based Midwest Housing Equity Group Inc. (MHEG) announced last month that it has acquired six developments in Iowa: including three in Greater Des Moines, two in Oskaloosa and one in Cedar Rapids.

Willow Bend II, …

Corporate philanthropy in a tough economy charts a course to the bottom line.

If profits are good but jobs are dwindling, keep on giving; if the books are in the red, it might be best …

The U.S. government will release an additional $4 billion in aid to General Motors Corp. and $3 billion to Chrysler LLC as planned, even before the two automakers outline how they will remain vital and …