General Electric said it would sell its European private equity financing business to a unit of Japan's Sumitomo Mitsui Banking Corp.» Read More
As Wall Street tries to survive the credit crunch, business schools are planning their own rescue plans: tinkering with their curricula and preparing students for a different job landscape
For the week ending Friday, September 26, 2008, the major U.S. Indices tumbled for the week as uncertainty lingered over the Congressional $700B bailout package. We also witnessed a historic bank failure, unsatisfying housing data, a continued rise in jobless claims, and a record one-day gain in the price of crude. The S&P 500 and NASDAQ Composite shed more than 3% for the week. The NASDAQ had the worst weekly performance amongst the three major indices, losing 3.98%, followed by S&P 500 which lost 3.3%, marking their biggest weekly drops since the start of Sept. for the NASDAQ & since mid May for the S&P.
Wall Street's wild ride promises to continue as Congress wrangles over details of a financial markets bailout, and investors assess the government-brokered deal for Washington Mutual.
Melissa Lee sits in for Maria Bartiromo, discussing Thursday's top business and financial stories -- and looking ahead to Friday's events.
In this Web Extra Pete Najarian reveals why he’s keeping a close eye on emerging markets. Also the traders talk GE.
Stocks logged a 200-point gain amid news that lawmakers are close to reaching an agreement on a Wall Street bailout.
Our parent company, GEspacer, held up well despite reducing earnings estimates for the third quarter. Two pieces of good news: 1) Standard and Poor's affirmed the company's ratings, and 2) GE is making efforts to reduce leverage and diversify its funding strategy for GE Capital.
Stocks shot up after a report that lawmakers are very close to reaching an agreement on a Wall Street bailout.
I want to keep you all up with the latest action in Washington regarding protecting your savings. I taped a recent appearance on the Oprah Winfrey Show on the morning of Thursday Sept. 18, right in the midst of much market turmoil. On the show I told you all that money market funds you buy through brokerages and mutual fund companies are not insured the same as money market accounts that you buy at an FDIC-insured bank.
At least one company will benefit greatly if Paulson's plan is passed.
There will be a bill (it may get sealed in the White House at the meeting with the President this afternoon), but it may be so burdened with "equity protection" (read: back-door ownership) and "phase-ins" (read: we ain't giving you all the money now) that the Street will argue it will limit participation in the plan.
Stocks rallied Thursday amid hopes that a bailout will get passed this week. However, gains were curbed by worries about General Electric's lowered outlook and misses in two key economic stats.
Traders are passing around this document which purportedly lifts the ban on short selling in Russia. Those who are adamantly opposed to a blanket ban on short selling are claiming this makes Russia more of a capitalist country than we are.
Options traders have been bracing themselves for bad news from some of Wall Street's most reliable companies, said Rebecca Darst of Interactive Brokers.
Stocks opened higher Thursday amid hopes that a bailout will get passed today. However, gains were curbed by worries about General Electric's lowered outlook and misses in two key economic stats.
Futures cut their gains in half after two economic reports — jobless claims and durable-goods orders — missed their targets and General Electric lowered its outlook. But they still pointed to a higher open for Wall Street as hopes for progress on the government's proposed bailout for the financial system grew, despite uncertainty about how the $700 billion plan would work.
Stock futures rose this morning as Rep. Paul Kanjorski said on our air that the bailout bill is "almost a done deal."
Former General Electric Chairman and Chief Executive Jack Welch appaulded the company's decision to suspend its stock buyback plan in order to maintain its "AAA" credit rating.
That's what Mr. Bernanke said to Senator Schumer, who has been pressing both Mr. Bernanke and Treasury Secretary Paulson for some agreement that would provide a lesser amount (say $150 billion) initially, and then have the next administration vote on providing more funds.
Stocks fell more than 1 percent amid anxiety about the Wall Street bailout plan. Lowered analyst outlooks dragged on General Electric and bank stocks.