Five years ago Springleaf Holdings Inc. was losing more than $1 billion annually as the financial crisis crippled its business of lending to people with poor credit. Fighting off bankruptcy, it closed more than 200 branches and laid off about 800 employees in 2012.
Citigroup Inc. and JPMorgan Chase & Co. are bracing investors for a fourth straight drop in first- quarter trading, a period of the year when the largest investment banks typically earn the most from that business.
John Thain, who sold Merrill Lynch & Co. for a premium at the height of the financial crisis, has transformed the once-bankrupt lender CIT Group Inc. into an enticing takeover target for some of the largest banks.
General Electric Co. plans to seek as much as $3.5 billion in the initial public offering of its North American consumer-lending business, now called Synchrony Financial, people with knowledge of the matter said.
Five of the six biggest container shippers are maintaining routes to Tokyo and Yokohama after the U.S. Navy said radiation on vessels from the leaking Fukushima Dai-Ichi nuclear plant can be scrubbed off with soap and water.
Stockton, California, went to trial today against Wells Fargo & Co. and will have a hearing tomorrow on litigation by its police officers that may signal whether it becomes the largest U.S. city to file for bankruptcy.