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American International Group Inc. (AIG), the bailed-out insurer, was rebuffed by the Federal Reserve Bank of New York in its bid to repurchase a portfolio of mortgage- backed securities for $15.7 billion.
The New York Fed will instead sell the assets individually and in blocks, the regulator said today in a statement posted on its […]

The Federal Reserve on Friday cleared the way for some major banks to boost stock dividends, prompting announcements from JPMorgan Chase, Wells Fargo and U.S. Bancorp.
JPMorgan Chase said it is increasing its dividend to 25 cents a share from 5 cents, Wells Fargo hiked its dividend to 12 cents a share from 5 cents and […]

Household wealth in the U.S. climbed by $2.1 trillion in the fourth quarter of 2010 as share prices rose and families rebuilt finances tattered by the recession.
Net worth for households and non-profit groups increased at a 16.6 percent annual pace to $56.8 trillion after rising at a 9.1 percent rate in the previous three […]

A notorious youth leader, under United Nations sanctions for inciting hatred, called Friday on citizens of Ivory Coast to barricade their neighborhoods and chase out foreigners.
Charles Ble Goude, recently named youth minister by sitting president Laurent Gbagbo, said the political crisis was coming to a head, and now was the time for “real” Ivorians to […]

If Albert Pujols gets what he reportedly wants in a new contract, he will earn a notable distinction.
At $27 million to $30 million a year, the 31-year-old first baseman would not only make more money than any other Cardinal and any other Major League ballplayer. He would likely earn more than any of the 1.3 […]

The U.S. economic recovery is finally getting stronger, Federal Reserve Chairman Ben Bernanke said Friday.
Bernanke, in testimony before the Senate Budget Committee, said there is increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold.
"Overall the pace of economic recovery seems likely to be moderately stronger in 2011 than […]

U.S. retailers’ 2010 holiday sales jumped 5.5 percent for the best performance in five years as shoppers snapped up clothing and jewelry at Macy’s Inc., Tiffany & Co. and other stores.
Retail sales, excluding autos, rose to $584 billion from Nov. 5 through Dec. 24, said MasterCard Advisors’ SpendingPulse, which measures retail sales by all […]

Protesters clashed with riot police across Athens on Wednesday, torching cars, hurling gasoline bombs and sending Christmas shoppers fleeing in panic during a general strike against the government’s latest austerity measures.
Police fired tear gas and flash grenades as the violence escalated outside parliament and spread to other parts of the capital.
Angry unions triggered the 24-hour […]

Federal Reserve Bank of Boston President Eric Rosengren said he expects the central bank to buy the entire $600 billion of Treasuries policy makers authorized Nov. 3 in a bid to reduce unemployment.
“Given my forecast, I fully anticipate we will purchase the entire amount,” Rosengren, 53, said today in an interview with Bloomberg News. […]

Standard & Poor’s Ratings Services revised its outlook for Toronto-Dominion Bank to positive from stable.
One reason cited for the revision was the expectation that TD Bank would successful integrate its most recently announced U.S. acquisitions, including The South Financial Group.
South Financial (NASDAQ: TSFG), headquartered in Greenville, S. C., does business in Florida as Mercantile Bank […]