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Citigroup Inc

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  • Mechanism for Credit Is Still Stuck Wednesday, 13 Aug 2008 | 10:32 AM ET
    Credit Crunch

    A year after financial tremors first shook Wall Street, a crucial artery of modern money management remains broken. And until that conduit is fixed or replaced, borrowers will see interest rates continue to rise even as availability worsens for home mortgages, student loans, auto loans and commercial mortgages, says the New York Times.

  • We were reminded today that lower commodities and a higher dollar were not going to solve all the world's problems. What happened is that financials again came to the fore and reminded everyone that:

  • New York Bank Probe Not Over Yet: Cuomo's Office  Tuesday, 12 Aug 2008 | 4:02 PM ET

    Some big Wall Street banks may have been premature in believing New York State's investigation into auction-rate securities was over, people inside New York Attorney General Andrew Cuomo's office told CNBC.

  • Stocks Close Lower On Selloff in Financials Tuesday, 12 Aug 2008 | 3:04 PM ET

    Stocks closed lower—even though oil fell to $113 a barrel—as a fresh round of warnings about banking troubles squelched the market's week-long rally.

  • Foreclosures in a Football Field Tuesday, 12 Aug 2008 | 1:38 PM ET
    New England Patriots' stadium

    It’s still pre-season for football, but on Tuesday in New England, the Patriots' stadium will be open. It’s not for football and it’s not for fans -- it’s for borrowers in danger of losing their homes and for the mortgage lenders and banks who hold or service their loans.

  • Wall Street's Losses Might Give It A Tax Holiday Tuesday, 12 Aug 2008 | 10:30 AM ET
    New York City Skyline

    Some Wall Street companies might not resume paying New York City taxes for "a number of years'' because they can offset future profits with the losses they are currently suffering, Mayor Michael Bloomberg said on Monday. 

  • More Bank Losses Show Credit Crisis Far From Over Tuesday, 12 Aug 2008 | 10:05 AM ET
    Credit Crunch

    The financial sector took several more body blows as losses from the credit crisis continued to mount at some of the world's biggest banks.

  • Talent-Hungry Small Firms Cheer Wall Street Job Cuts Tuesday, 12 Aug 2008 | 9:46 AM ET
    New York Stock Exchange (NYSE)

    Smaller financial firms have found a way to capitalize on their larger rivals' woes, moving to snap up some of the top talent cast adrift by sweeping layoffs at leading investment banks.

  • UBS Posts Worse-than-Expected Quarterly Loss Tuesday, 12 Aug 2008 | 9:38 AM ET

    UBS will separate its investment bank from its prized wealth management arm, paving the way to sell the business that made it Europe's biggest casualty of the credit crunch.

  • Stocks Suffer After Latest Bank Warnings Tuesday, 12 Aug 2008 | 9:33 AM ET

    Stocks moved lower off the market opening on a fresh round of bad news for financials and an economic sign that the US consumer was continuing to struggle.

  • What Financial Stocks Are Shorted the Most? Tuesday, 12 Aug 2008 | 9:20 AM ET

    From mid-July to late July short interest dropped 5.34 percent, on average, in the shares of 17 major financial firms affected by the U.S. Securities and Exchange Commission emergency short-selling rule, according to the latest data from the exchange.

  • Wachovia Raises Second-Quarter Loss, to Cut Jobs Tuesday, 12 Aug 2008 | 3:51 AM ET
    A Wachovia branch bank is shown in a Charlotte, N.C. file photo from July 20, 2006. After a rough year, the banking industry appears headed for another in 2007. (AP Photo/Chuck Burton, File)

    Wachovia increased its previously reported second-quarter loss to $9.11 billion to cover costs to settle a probe of auction-rate securities sales, and said it will cut more jobs as the housing market deteriorates.

  • New York Seeks Auction-Rate Pacts With 3 Banks Monday, 11 Aug 2008 | 5:32 PM ET

    New York Attorney General Andrew Cuomo's office, which is investigating Wall Street's sales practices in auction-rate securities, told JPMorgan Chase, Morgan Stanley and Wachovia on Monday that it wants to begin settlement talks immediately.

  • As of this morning, 449 (just under 90%) of the S&P 500 companies have reported earnings. Here's a look at which companies have had the biggest surprises so far...

  • Believe in the Bottom Monday, 11 Aug 2008 | 2:33 PM ET

    Cramer's confident those mid-July lows won't be breached. Here's why.

  • The Week and You:  On the Move Again Saturday, 9 Aug 2008 | 9:27 AM ET

    Another week full of challenges for the stock pickers, another week of brave and ingenious stock picks.

  • Stocks Have Biggest Week Since April Friday, 8 Aug 2008 | 6:16 PM ET

    Stocks rallied  Friday as a more than $4 a barrel drop in oil prices offset the drag of Fannie Mae's earnings miss.  It's going to be the same story next week: Energy prices. Even if there are disappointments in CPI or Wal-Mart's earnings, investors are expected to overlook them as the drop in gas prices puts more money in consumers' pockets.

  • For the week ending Friday, August 8, 2008, the U.S. markets ended the week on a positive note, cheered by a retreat in commodity prices, a Fed’s decision to keep rates steady at 2%, better-than-expected results in pending home sales, and a stronger dollar.

  • UBS to Buy Back Stricken Debt Securities Friday, 8 Aug 2008 | 3:44 PM ET
    UBS

    Swiss bank UBS has agreed to buy back $19.4 billion of debt securities whose value collapsed during the global financial crisis and to pay $150 million in fines to settle charges it misled investors, Massachusetts' top securities regulator said.

  • Why It's A Different Market One Month Later Friday, 8 Aug 2008 | 3:18 PM ET

    There are notable shifts occurring in the stock market on the dollar rally/commodity drop this week.