Citigroup has agreed to pay Enron creditors $1.66 billion to settle a lawsuit over its responsibility in the energy trading firm's downfall, a group representing creditors said Wednesday.
The $19.5 billion sale of the radio broadcaster Clear Channel Communications to two private equity firms is in jeopardy.
The buyout of Clear Channel Communications for nearly $20 billion was near collapse because of a disagreement over financing, a source says.
A crashing collapse has always signaled the end of a bear market. Are we there yet?
Stocks rallied into the new week after JPMorgan Chase raised its offer for Bear Stearns and a report on home sales came in better than expected.
John Buckingham is just like the average investor -- only with the volume turned way, way up. The chief portfolio for Al Frank Asset Management finds himself owning a lot of stock caught in turbulence -- and he's looking beyond it to find finding some novel opportunities.
As Congress and the Bush administration struggle to contain the housing and credit crises — and prevent more Wall Street firms from collapsing as Bear Stearns did — a split is forming over how to strengthen oversight after decades of deregulation, the New York Times reports.
If GE’s credit and other businesses are any indication, we’re close.
Stocks closed higher Thursday, boosted by a late-breaking Federal Reserve announcement, a better-than-expected regional manufacturing report and an upbeat analyst note on financials. Oil prices were back above $100 a barrel.
These banks absolutely can't go under if we're going to get out of this mess.
Stocks turned sharply higher Thursday after a closely-watched regional manufacturing report came in better than expected. Commodity prices continued to recede.
Wall Street was poised to open slightly higher on the last day of trading of the week before the Easter break, as investors hoped for a little breather.
Citigroup, the largest US bank, plans further job cuts in its securities operations in a bid to cut costs after subprime mortgage and credit problems led to a record quarterly loss.
Visa shares jumped as much as 38 percent in the world's largest credit card network's market debut on Wednesday, as eager investors handed some beleaguered U.S. banks a much-needed payday.
The overwhelming majority of homeowners are doing just fine. So how is it that a mess concentrated in one part of the mortgage business — subprime loans — has frozen the credit markets?
National Australia Bank, Australia's top lender by assets, is in talks to buy Citigroup's Australian retail broking business to expand back into stockbroking, the Australian Financial Review reported on Wednesday.
The Federal Reserve announced a 75 basis point cut to its Fed Funds Target today, bringing the rate down to 2.25%, its lowest level since January 2005. The Fed has now cut the rate by 3.0% since it began easing in September of last year. How does 300 basis points over 180 days compare to past easing periods?
When the news of Bear Stearns increased credit concerns arose on Friday, the Financial stocks took a beating, adding to their woes from the past few months. Sunday's news of the JP Morgan Chase's $2/share buyout of Bear drove prices down further. Now with Lehman and Goldman reporting better than expected earnings the financials are up significantly. See how the past three days have faired on the Financials...
Stocks opened higher Tuesday as investors are anticipating that the Federal Reserve will deliver an unusually large rate cut.
Enthusiasm for the Federal Reserve's actions to stem the credit crunch propelled the Dow Jones Industrial Average to a higher close Monday, a day when everyone expected a rout due to weekend fire sale of Bear Stearns.