Mergers and acquisitions broke a seven-year losing streak in 2014, with $3.48 trillion worth of deals. CNBC looks at some of the year's highlights.» Read More
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.
European equities lost ground on Thursday, ending at their lowest close in six weeks as persistent credit fears continued to pull banking stocks lower.
Perma bear Doug Kass of Seabreeze Partners just put out a note saying he sees a rally coming, albeit a brief one. "This is a tough call for me to make because I believe the world's economy and capital markets face significant challenges. But, increasingly, many of those concerns have been recognized and some of my shorts have reached my targeted price objectives.
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.
Morgan Stanley on Wednesday said it expects fourth-quarter earnings to be reduced by about $2.5 billion from a write-down of its U.S. subprime exposure.
Citigroup's problems deepened as it was unable to assure investors a potential $11 billion write-down for subprime mortgages won't grow, and its nearly pristine credit rating was downgraded.
Charles Prince resigned on Sunday as chairman and chief executive of Citigroup, and the bank said it may suffer an $11 billion write-down for subprime losses.
Merrill Lynch's credibility and stock took a big hit Friday on reports that the biggest brokerage firm sought to delay billions of dollars of losses on troubled assets by moving them to hedge funds.
Large U.S. banks and brokerages will suffer additional writedowns of more than $10 billion in the fourth quarter as deteriorating credit trends continue, a Deutsche Bank analyst said.
Markets dealing with several issues this morning. 1) The S&P/Case Shiller Home Price Index August fell 4.4% year over year. This is the biggest decline since the series began 6 years ago. The index is a composite that tracks twenty U.S. cities.
The "kitchen sink" theory is out the window. There's a trust problem developing on the Street. Remember a few weeks ago traders drove up the stocks of companies like Citigroup, even though they did take very large losses for subprime and CDOs?
Merrill Lynch Chairman and CEO Stan O'Neal told shareholders that "mistakes" in subprime lending exposure led to $7.9 billion in write-downs for the third quarter.
New York Times shares fell about 3 percent on a CNBC report that Morgan Stanley may be selling 10 million shares of the company.
Financial services giant Morgan Stanley is laying off 300 workers in the wake of difficulties from the recent market turmoil.
Morgan Stanley Chief Executive John Mack told CNBC that he does not expect the investment bank to take further write-downs on assets beyond what was announced last month.
A group of nine Wall Street banks has agreed to pay $280 million for a minority stake in Thomson's TradeWeb, an online market for bond trading, the Wall Street Journal reported on Thursday, citing sources.
JPMorgan Chase and Bank of America are expected to disclose losses of about $3 billion in mortgage securities and leveraged loans when they report earnings this month, the Financial Times reported, citing an analyst.
A former Morgan Stanley lawyer and her attorney husband who participated in an insider trading ring on Wall Street were each sentenced to six months of home confinement on Thursday.
Bear Stearns is seeing money return to the financial markets as fear created by this summer's credit crunch begins to ease, the firm's president said Thursday.