A national survey has found many Australian companies are putting their hiring on hold because of growing uncertainty about the economy.

GMAC Financial Services, formerly known as General Motors Acceptance Corporation, announced losses in the fourth quarter because of homeowners’ efforts to keep up with mortgage payments.

The largest U.S. tax preparer H&R Block Inc reported that it will cut about 325 filled and 180 open positions, representing about 23 percent of its corporate support staffing, by April 30.

China launched a service trade association on Friday under the banner "of the enterprises and for the enterprises" to power and regulate the country's service trade.

Societe Generale's board of directors sets up an independent committee to investigate billions of euros (dollars) in trading losses.

Legg Mason Inc. named Mark Fetting chief executive to succeed Raymond Mason, who over 46 years built a regional stock brokerage into the No. 2 publicly traded money manager in the U.S., with $1 trillion in assets under management.

Belgium's biggest financial- services company Fortis said it meets capital and solvency requirements even when its holdings in subprime collateralized debt obligations are valued under “very stringent scenarios.''

The financial services industry is complex and financial service professionals are becoming less distinguishable and more inter-related, according to a new RAND Corporation report issued today.

AT&T Inc. announced that First Cash Financial Services a leading provider of specialty consumer financial services and related retail products, has selected AT&T to provide domestic and international network services under a three-year, $7 million contract.

Citi's board of directors today announced that it has appointed Vikram Pandit as the company's new Chief Executive Officer and member of the Board of Directors, effective immediately. Sir Win Bischoff, who has been acting Chief Executive Officer since November 4, 2007, will succeed Chairman Robert E. Rubin, who will return to his previous duties as a member of the Citigroup Board of Directors and Chairman of the Executive Committee of the Board.

The PNC Financial Services Group, Inc. (NYSE: PNC) announced today it has signed a definitive agreement to sell J.J.B. Hilliard, W.L. Lyons, Inc., a full-service brokerage and financial services provider headquartered in Louisville, Ky., to Bowling Green, Ky.-based Houchens Industries, Inc.

Transduco (www.transduco.com) commented today that the German IT market is showing increasing signs of growth and stability.