Goldman Sachs may be one of the last firms standing as a rocky romance between Wall Street and raw material markets turns sour.» Read More
Bank of America, the second-largest U.S. bank, is winding down a $12 billion money-market type fund for institutional investors, CNBC has learned.
The three U.S. banks assembling a super fund aimed at alleviating the global credit crunch are scaling back its size due to a lack of interest from the financial firms it's supposed to help, the Wall Street Journal said in its online edition, citing sources familiar with the matter.
Stocks closed lower as investors worried about the impact of the credit crisis on the financial sector and on the wider economy.
The bank stocks should build on their momentum, Cramer says. Don't take profits yet.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Citigroup got a call from a prominent investment banker suggesting a merger with Bank of America as it was dealing with billions of dollars in mortgage-related losses and the departure of Chief Executive Charles Prince, the Wall Street Journal reported Wednesday in its online edition.
Stocks closed sharply higher after a rebound by the battered financial sector spread across the entire market.
Cramer makes the call on viewers' favorite stocks.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
HSBC Holdings, Europe's biggest bank, has stepped in to support its two structured investment vehicles -- Cullinan and Asscher -- with funding of up to $35 billion to prevent forced sales of assets.
Stocks closed higher in a shortened session as the kickoff to the holiday shopping season lifted retail stocks, while signs of progress in a plan to relieve credit market strain helped major banking stocks.
Three U.S. banks drawing up a plan to ease the credit markets are expected to ask others in the industry to help out next week, the Wall Street Journal reported in its online edition, citing sources familiar with the situation.
Overall losses from the U.S. mortgage market crisis could be up to $300 billion but financial firms and policymakers need to buy time to ensure an orderly work-out, the Organization for Economic Co-operation and Development said on Wednesday.
Asset manager BlackRock is set to be signed up as the manager of a $75 billion fund being put together by U.S. banks to help struggling structured investment vehicles (SIVs), the Financial Times said, without citing the source of the information.
Stocks closed sharply lower as investors remained skittish about the housing slump's toll on the economy and potential credit losses at big financial services companies.
Good and bad news this morning. Good news: CPI in line with expectations. --More relief on the subprime front. UBS said they do not expect a major write-down of subprime-related exposures.
Investors in a $5 billion cash management fund run by General Electric have become the latest victims of the subprime mortgage meltdown. A short-term cash management fund, which attempts to keep the value of each share at one dollar, is instead offering investors just 96 cents on the dollar.
United Rentals said on Wednesday that Cerberus is not prepared to proceed with the purchase of the company on the terms set forth in its July takeover agreement.
Bank of America, the second-largest U.S. bank, said on Tuesday it expects to write down $3 billion of debt in the fourth quarter, as fallout from the nation's housing slump deepens.
Huh, what happened? With the understanding that we are still midday, here's the reasons for the rally: 1) The primary driver is that stocks have been dramatically oversold, and in the case of financials, heavily shorted.
U.S. stock indexes closed lower as a rally in financial shares lost steam late Monday, pushing down markets already pressured by falling tech shares.
Help may be on the way for the financial sector, but in the meantime individual institutions are continuing to get hit with damage from the growing subprime mortgage crisis.