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Banking News

Finance, Banking, Money, Business News

Wachovia's banking sold to Citigroup (The Arizona Republic)
Another week, another seismic shift affecting Arizona's banking landscape.

3 giants now tower over U.S. banking scene (Houston Chronicle)
The sale of Wachovia's deposits and other assets to Citigroup on Monday reshapes the U.S. banking landscape in the midst of financial upheaval.

Commentary: Our banking system still works (The Kansas City Star)
Headlines can be misleading, and in a time of financial crisis, that can make matters worse. Pick up a paper or listen to the quick bursts of news on TV or radio and what you get are a “banking” crisis and market turmoil. That's intensified on the rare occasion that a bank fails.

Breaking News: Citigroup to buy Wachovia banking operations 8:53 a.m. (The Citizens' Voice)
NEW YORK (AP) -- The government says Citigroup will acquire the banking operations of Wachovia in a deal facilitated by the Federal Deposit Insurance Corp.

Big 3 of banking (The Plain Dealer)
New York -- The sale of Wachovia's deposits and other assets to Citigroup on Monday leaves the nation with three superbanks, reshaping the U.S. banking landscape in the midst of unprecedented financial upheaval.

Citigroup to buy Wachovia banking operations (AP via Yahoo! News)
Citigroup agreed Monday to buy Wachovia's banking operations for $2.1 billion in a deal arranged by federal regulators, making the Charlotte, N.C.-based bank the latest casualty of the widening global financial crisis.

Integration skills now key to future banking success - community blog from John Cant (Finextra)
As we can see from this news on JP Morgan's takeover of WaMu, hardly a day has gone by over recent weeks without a new banking takeover being announced. The ability of the acquiring banks to merge, integrate and leverage their new purchases has now become strategic to their future success.

Mergers redraw banking borders (Rocky Mountain News)
The financial-industry bloodbath that has now claimed Wachovia is reshaping Colorado's banking landscape. Monday's news that Charlotte, N.C.-based Wachovia will sell its retail banking operations to Citigroup means that the New York- based giant will become Colorado's fourth-biggest bank by deposits. Wachovia has 34 offices in the state.

Banking on the street (BBC News)
Imagine doing your banking literally in the middle of the pavement - it gives a new meaning to the term high street banking. That's the case for one woman who lives in north-west London. She relies on a wheelchair to get around and for her it means there are some places she just can't access.

Morning business news - Sep 29 (RTÉ News)
BANKS AGAIN DOMINATING NEWS AGENDA - The big banking stories are again dominating the news agenda at the start of week three of this unprecedented stream of banking collapses and rescues.