Citigroup, the largest U.S. bank, on Tuesday overhauled the structure of its investment bank, combining equity and debt capital markets activities.
Bank of America, the second-largest U.S. bank, said on Tuesday it expects to write down $3 billion of debt in the fourth quarter, as fallout from the nation's housing slump deepens.
While Citigroup searches for a new CEO, there is growing speculation that the troubled financial services conglomerate may finally be broken up.
Never in history has Wall Street seen such dramatic changes at the top. Who are the new leaders? And what do they mean for the future? Charlie Gasparino takes you inside as only he can.
U.S. stock indexes closed lower as a rally in financial shares lost steam late Monday, pushing down markets already pressured by falling tech shares.
Help may be on the way for the financial sector, but in the meantime individual institutions are continuing to get hit with damage from the growing subprime mortgage crisis.
Financial stocks today mirror the schizo nature of the stock market. There are a few big winners, and some really big losers. Speculation of a breakup of Citigroup is driving that stock higher and is drawing money into the financial sector.
Jittery investors sent shares of Countrywide Financial down Monday on news that the mortgage giant is worried over what could be a crippling downgrade to its credit rating.
Banks worldwide may lose as much as $400 billion from subprime mortgages, as at least one in four of the risky home loans go into default, analysts said on Monday.
The three largest U.S. banks have agreed on the structure of a $100 billion super fund designed to help unblock the credit markets, the Wall Street Journal reported Monday, citing people familiar with the situation.
A downgrade of Citigroup's nearly pristine credit ratings will not impede its "thriving" business, new acting Chief Executive Win Bischoff wrote in an internal memo to employees sent Saturday.
Citigroup, the largest bank in the United States, said on Thursday that its former Chairman and Chief Executive, Charles Prince, will take home roughly $40 million as he retires from the company.
Wachovia said Friday it suffered a $1.1 billion loss on subprime mortgage-related debt in October, while Capital One Financial said more customers are having trouble paying their bills as the U.S. credit crisis deepened.
Bank stocks stopped the slaughter and mounted a dramatic rebound Thursday with Morgan Stanley rising and Citigroup paring its losses. Can these financial giants regain their footing or is there more carnage to come?
What do you make of a day like today? What do you make of it when the Dow moves in 250 point range from top to bottom, then moves almost all the way back at the close? What do you make of a stock like Citigroup, which trades in a 10% RANGE IN A SINGLE DAY?
Ben Bernanke’s latest assessment of the economy shows the Fed’s job of balancing inflation with a slowing economy is more difficult than ever, leaving policymakers undecided on further rate cuts.
Falling real estate prices, massive bank write-downs and a quickening drumbeat of slashed credit ratings adds up to one thing: The credit crunch has only just begun.
Stocks are striking a much-improved tone after Wednesday's high energy selloff, as investors await testimony this morning from Fed Chairman Ben Bernanke. Monthly chain store sales and some big earnings could also influence direction.
Morgan Stanley on Wednesday said it has suffered a $3.7 billion loss stemming from its U.S. subprime mortgage exposure, which it expects will reduce fourth-quarter earnings by about $2.5 billion.
Money isn't the only thing that's green at Wells Fargo.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.