Financial news on October 16, 2011

Business and Financial news
European Officials Struggle Toward a Debt Solution

European finance ministers say they have moved closer to comprehensive solution for debt crisis during two-day gathering of officials from Group of 20 industrial nations, despite unresolved problems that could still widen scope of crisis. Read more..

By LIZ ALDERMAN - The New York Times

Online Banking Keeps Customers on Hook for Fees

Internet banking services that have been sold to customers as conveniences, like online bill paying, serve as powerful tethers that keep them from jumping to another institution; banks' controversial new fees have caused an uproar and drawn criticism from politicians, including President Obama, but frustrated customers are finding that it is not so easy to disentangle from one's bank. Read more..

By NELSON D. SCHWARTZ - The New York Times

Postal Union Turns to Wall Street for Advice

The letter carriers are enlisting Ron Bloom, a former investment banker, and Lazard, the big financial firm, to help forge a strategy to revitalize the postal service. Read more..

By DEALBOOK - The New York Times

See what else happened on October 16, 2011