The euro turned higher in choppy trading Wednesday as traders reacted to headlines that the ECB is unlikely to take new action early next week.» Read More
Warren Buffett tells CNBC he has no regrets about any of the decisions he made over the weekend one year ago when the financial crisis was at its worst. In a taped interview with Squawk Box's Becky Quick airing tonight, Buffett says he "looked hard" at a telephoned offer that Friday night to buy AIG's property casualty operation for around $25 billion, but decided against it. He also recalls that he was approached to do a reinsurance deal that might have helped clear the way for a Barclay's rescue of Lehman, but it didn't come together.
On Tuesday, even "good" financials start out looking pretty bad: Goldman Sachs' earnings plunge and AIG scares investors again. But volatility makes the market hard to predict.
On Monday, the weekend's turmoil starts taking its toll. Stocks fall sharply Monday on a triptych of Wall Street woe: Lehman Brothers' bankruptcy filing; Merrill Lynch's acquisition by Bank of America; and AIG's unprecedented request for short-term financing from the Federal Reserve.
In our one-hour special presentation “One Year Later: Reflections From The Street”, Maria Bartiromo sat down with four of the biggest names on Wall Street: John Mack – Chairman & CEO of Morgan Stanley, Larry Fink – Chairman & CEO of BlackRock, Robert Diamond – President of Barclays and Vikram Pandit – CEO of Citi.
I’ve been covering financial news for two decades, but the memories of that weekend will always be among those that stand out in my mind. Among the most vivid are those of speaking with some of the key players who were involved firsthand as these historic events unfolded.
Hurricane Ike takes a backseat to the the banking storm: BofA pulls out of Lehman to focus on Merrill Lynch. By late Saturday night, a deal has been drafted to acquire Lehman's bad assets and pave the way for an eventual sale of the firm.
As the sky fell on Wall Street a year ago, CEOS at the top firms were faced with trying to contain the damage. John Mack, Vikram Pandit and Bob Diamond look back with CNBC.
On Sunday, no rest for Wall Street. And the dominos fall. Lehman Brothers files for chapter 11 protection, Merrill Lynch sells itself to Bank of America and AIG prepares for a dramatic decision.
Britain's financial watchdog fined Barclays 2.45 million pounds ($4 million) on Tuesday for failing to provide accurate transaction reports and "serious weaknesses" in control systems in two of its divisons.
Asia has already emerged more forcefully from recession than the U.S. and Europe and that upturn is starting to feed into the job market. Hiring is starting to pick up again, recruiters and bankers say.
JPMorgan Chase asked the UK banking regulator to examine a pay deal offered by Barclays to lure one of JPMorgan's star proprietary traders to its own investment banking arm, Barclays Capital, the Financial Times reported Monday.
Following are the day’s biggest winners and losers. Find out why shares of Barclays and 3M popped while Tyson Foods and Clorox dropped.
Stocks rallied to their highest closes since November Monday following encouraging economic reports from the U.S. and abroad and following news that auto sales got a boost from the "Cash for Clunkers" program.
Economy: better signs. Markets driven by stronger economic news and commentary from banks and autos.
Stocks rallied Monday after a pair of encouraging reports on the manufacturing sector, plus strong bank earnings out of Europe and expectations for strong auto sales. The S&P briefly topped 1,000, a level it hasn't seen since November.
After the Dow ended with its best July in two decades, stocks are starting August on a strong note. Strength this morning is stemming from strong manufacturing data out of Europe and China, earnings out of a couple of major European banks, and optimism over July Ford auto sales.
Stocks got a quick pop at the open Monday after some strong bank earnings out of Europe and expectations that auto sales will show a boost from the "Cash for Clunkers" program. But the rally quickly fizzled.
Stock index futures indicated a strong opening for Wall Street Monday, helped by European markets that hit a broader-index high for the year on better-than-expected bank earnings.
Shares of William Morrison Supermarkets surged more than 8 percent to the top of the FTSE-100 Tuesday, after it said it expects to beat earlier expectations for its full-year results.
Goldman Sachs raised British bank Lloyds Banking Group to "buy" from "neutral," adding it to its conviction buy list, the bank said in a research note quoted by Reuters. Lloyds shared have topped the FTSE index Monday, rising nearly 7%.