(Updates throughout with background and comments from CEO Kabat.) The board of Fifth Third Bancorp FITB elected former Federal Deposit Insurance Corp. Chairman William Isaac as its chairman, the bank said Friday. The Cincinnati bank approached Isaac, an outspoken critic of the government’s response to the current financial crisis, to strengthen its corporate governance and [...]

(Updates with more details on Ackman, other fund managers.) Hedge fund manager Bill Ackman said Wednesday he has bought 150 million shares of Citigroup Inc. C, one of the bigger bets touted at a widely followed industry conference in New York on Wednesday. Ackman disclosed the Citi stake at the end of his presentation at [...]

SINGAPORE (MarketWatch) — Asian shares were mixed Thursday, with bargain hunters entering some markets after sharp declines recently. In Tokyo, Resona Holdings surged on a report that it planned to begin repaying a 2003 Y2 trillion public fund infusion.