Fox Business - The Power to Prosper
Search Site

Economic Crisis

Related Topics

  1. Berkshire Hathaway Shareholders Conference
  2. The Government Is Killing My Business
  3. Campaign Finance Reform
  4. Insurance
  5. President Franklin Delano Roosevelt
  6. Housing Market Crash
Get updates on Economic Crisis
Woori Names New Chairman Ahead of Stake Sale

Woori Finance Holdings Co. (053000.SE), South Korea's largest banking group by assets, named a new chairman to help steer the government's fourth attempt to sell a 57% stake valued at $4.6 billion in the group.Lee Soon-woo, chief executive at the flagship Woori Bank, will take over as chairman, subject to shareholder approval at a meeting on June 14, Woori Finance said in a statement late Thursday."We expect Mr. Lee to successfully complete the most important duty of privatization of the group," it said.Mr. Lee will replace Lee Pal-seung, who resigned last month after the government failed for the third time in as many years to privatize the group.Mr. Lee Soon-woo, 63, started his career in 1977 at a bank that was later turned into Woori Bank and has been leading it since March 2011.The new government of President Park Geun-hye, who took office in February, is making a strong push to sell Woori Finance, which was established in 2001 as a holding company after the government bailed out ...

Read More ›

  1. Goldman Adopts Business Practice Initiatives

    Goldman Sachs Group Inc. (GS) said it has adopted all 39 initiatives it proposed to strengthen its business practices in the wake of the financial crisis, a step des...

  2. Goldman Sachs Says It Adopts All 39 Initiatives To Address Conflicts Of Interest, Other Business Issues

    Goldman Sachs Group Inc. (GS) said it has adopted all 39 initiatives it proposed to strengthen its business practices in the wake of the financial crisis, a step des...

  3. Ally Financial in $2.1 Billion Settlement With ResCap, Creditors

    Ally Financial Inc. said Thursday it will pay $2.1 billion to its mortgage subsidiary Residential Capital and the unit's creditors under an agreement reached last we...

  4. Ally to pay $2.1 billion to settle ResCap litigation

    Ally Financial Inc agreed to pay $2.1 billion to Residential Capital LLC to settle claims that it stripped the bankrupt mortgage subsidiary of choice assets.The deal...

  5. UBS to Meet Activist Investor Pushing for Bank Breakup

    An activist investor pushing for a breakup of UBS AG (UBS) will meet with a top executive of the Swiss bank next week, according to a person familiar with the situat...

  6. Ally in $2.1 Billion Settlement with ResCap, Creditors

    Ally Financial Inc. said Thursday it will pay $2.1 billion to its mortgage subsidiary Residential Capital and the unit's creditors under an agreement reached last we...

  7. Deutsche bosses seek to win over skeptical shareholders

    Deutsche Bank's bosses tried to convince skeptical shareholders at a lively annual meeting on Thursday that the bank was on the right track again after facing a host...

  8. AIG eyes new director with regulatory experience

    American International Group Inc's board is looking for a new director with regulatory experience, as the insurer readies for the government to classify it as big en...

  9. China Factory Activity Shrinks for First Time in 7 Months

    China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary manufacturing survey showed, entrenching fears that its e...

  10. Berkshire Seeks ResCap, Ally Financial Report

    Berkshire Hathaway Inc. (BRKA) wants an independent examiner's report on dealings between mortgage company Residential Capital LLC and its government-owned parent Al...

  11. Canada Fin Min: Too Much Capital 'Sloshing' Around, Worries About Asset Bubbles

    Canadian Finance Minister Jim Flaherty said Wednesday he's worried there's too much capital "sloshing" around the global economy because that might fuel asset bubble...

  12. Long-Term Mutual Funds Inflows Total $8.51 Billion in Latest Week - ICI

    Long-term mutual funds increased by $8.51 billion in the latest week as investors put money into most fund categories, the Investment Company Institute said.Investor...

  1. Goldman unveils checks on conflicts in bid to fix image

    After dozens of meetings with executives and regulators, 100,000 hours of employee training and an immeasurable amount of public grief, Goldman Sachs Group Inc's Llo...

  2. Ally Financial to Pay $2.1 Billion in Settlement With ResCap, Creditors

    Ally Financial Inc. said Thursday it will pay $2.1 billion to its mortgage subsidiary Residential Capital and the unit's creditors under an agreement reached last we...

  3. Treasury's Lew Hosts Dinner With Economists, Academics, Executives

    U.S. Treasury Secretary Jacob Lew Wednesday night met with economists, academics and executives to discuss the financial crisis and housing market.The group included...

  4. Porat, Shilling Talked Housing With Lew: Treasury

    Morgan Stanley Chief Financial Officer Ruth Porat and Yale professor Robert Shilling were among the individuals to discuss housing finance at a dinner with Treasury ...

  5. Ally to pay $2.1 billion to settle claims tied to ResCap

    Ally Financial Inc agreed on Thursday to pay $2.1 billion to settle legal claims tied to its bankrupt Residential Capital LLC unit, nearly triple the amount it initi...

  6. Lloyds to Sell $8.7 Billion U.S. Mortgage Portfolio

    Lloyds Banking Group PLC is looking to auction about $8.7 billion of U.S. mortgage securities, a person with knowledge of the sale said Thursday.The assets are a mix...

  7. Tata Steel Posts Biggest Quarterly Loss on Write-Down

    Tata Steel Ltd. (500470.BY) Thursday posted its biggest quarterly loss ever as the company took a large non-cash charge on some assets write-downs, including in its ...

‹ Prev12345…Next ›
Freebase CC-BY
Source: Economic Crisis on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL