Barclays PLC
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Goldman Sachs is selling about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China, the world's biggest bank.
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The latest job cuts in the banking sector come amid an overall wave of layoffs across the United States as companies move to cut costs in the face of slackening demand and a general economic downturn.
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The bet is that some small amount of money will be given to the auto makers now, enough to serve as some type of bridge loan into early 2009. At that point the Democrats will have the political leverage to develop a broader rescue package in the first weeks of February.
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If the US auto industry is to survive, it will have to undergo a major transformation—slashing operations, focusing on fewer models, shedding dealerships and making better cars, analysts say.
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The latest job cuts in the banking sector come amid an overall wave of layoffs across the United States as companies move to cut costs in the face of slackening demand and a general economic downturn.
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Markets are braced for more hemorrhaging in jobs, with a Friday employment report expected to record 200,00 more jobs vaporized in October. This would push the jobless rate up two-tenths of a point to 6.3 percent.
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Markets are braced for more hemorrhaging in jobs, with a Friday employment report expected to record 200,00 more jobs vaporized in October. This would push the jobless rate up two-tenths of a point to 6.3 percent.
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Markets are braced for more hemorrhaging in jobs, with a Friday employment report expected to record 200,00 more jobs vaporized in October. This would push the jobless rate up two-tenths of a point to 6.3 percent.
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Major Wall Street firms, which have already begun major layoffs, are expected to slash annual bonuses as well, CNBC has learned.
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Lehman Brothers Holdings Chief Executive Richard Fuld will step down from that post by year's end, and will not claim any severance or bonus when he departs, a spokesman for the bankrupt financial firm said Wednesday.
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The big broker-banks are preparing to lay off as much as 15 percent of their workforce as the economic slowdown continues to pound Wall Street, CNBC has learned.
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For the first time in history,the Dow, S&P 500, and NASDAQ finished the week up over 10%. Despite the gains this week, all major indices ended the month sharply lower.
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The markets have just turned positive, despite weakness overseas and disappointing Chicago PMI data. Keep in mind, the Dow hasn’t posted 2 consecutive days of gains in over a month.
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Barclay's has turned against current progressive thinking and shunned government bailout money. They have decided to raise their own capital by selling GBP 5.8 billion of convertible notes to Middle East investors.
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Traders and investment bankers might have more to worry about than dwindling bonus pools this year as mass firings on Wall Street are set to hit a record.
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In nearly a century, no Treasury secretary has faced a more difficult financial crisis than the one Henry Paulson is contending with. For months, he and his team have been working around the clock, often seven days a week, trying — in vain — to keep it from deepening, according to the New York Times.
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British bank Barclays is close to issuing a 3-year note to raise at least 1 billion pounds ($1.7 billion), adding to signs that government rescue plans are thawing funding markets.
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Following are the day’s biggest winners and losers. Find out why shares of Yahoo! and Safeway popped while Barclays and eBay dropped.
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From New York City to Indiana, the Wall Street crisis is hitting cities across the country.
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Wall Street tried to fight its way back from a precipitous opening drop, with volatility promising to cause violent swings as the market battled to break a seven-day losing streak.
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The credit crunch and the Wall Street crisis are hitting smaller cities across the country, but none is as close to the action as Jersey City, N.J.