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Stocks were flat Monday as the market was buzzing about an emergency rate cut.
Investment Bank Lehman Brothers is laying off 5 percent of its work force across all lines of its business, CNBC has learned.
Investment bank Lehman Brothers is laying off 5 percent of its work force across all lines of its business, CNBC has learned.
U.S. futures up slightly, just off highs of morning, European markets flat, Asian markets down 2-3 percent. Malaysia's KLSE Composite down 9.5 percent; Malaysia stock market temporarily halted during session; political unrest after major upsets by opposition party during weekend elections.
He has to consistently win, but these past few weeks have made me realize that Carl Edwards has all the ingredients of being the next big NASCAR marketing star. He speaks well, he's good looking and he's the only guy who has a ridiculous gimmick.
Carlyle Capital Corp, an affiliate of private equity firm Carlyle Group, said on Monday it has asked lenders for a standstill agreement as it faces more than $400 million in margin calls.
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Stocks were mostly lower Friday as a second straight drop in nonfarm payrolls and hopes that the worst is over tugged the market in both directions.
The stunning pay packages of executives at financial groups hammered by the U.S. mortgage crisis came in for stinging criticism from Democratic lawmakers and investor advocates at a congressional hearing Friday.
Stocks recovered Friday as investors quickly moved past the second straight drop in employment payrolls and focused on better times ahead.
A memo from the House Committee on Oversight and Government Reform states that in the last two quarters of 2007, Citigroup, Merrill Lynch and Countrywide Financial combined lost more than 20 billion dollars, thanks to the subprime mortgage meltdown. ...But CEO windfalls are a fact of life.
Countrywide Financial CEO Angelo Mozilo told a congressional panel Friday that he is "extremely concerned" that recent tightening of mortgage underwriting criteria has gone too far.
Punk Ziegel recommended investors buy Citigroup, a day after the bank announced moves to overhaul its U.S. residential mortgage business, and said new rumors in the market suggest that the financial giant's capital strength may be greater than thought.
The heads of three companies implicated in the mortgage crisis have been asked to explain how they collectively received hundreds of millions of dollars in compensation while their companies were losing money.
Gloom and doom greets the February employment report Friday. There's not much optimism around that report, which is released at 8:30 a.m. Estimates range from a slight increase in jobs to a slight decrease. Lehman expects job growth of 15,000, after January's 17,000 loss.
Wall Street was poised to open mostly lower on Thursday, despite positive retail sales numbers as the market continued to worry over the battered financial sector.
Citigroup said it aims to cut its home loan exposure by $45 billion, reduce risk and save $200 million a year in an overhaul of its U.S. residential mortgage business.