A senior banker will next week begin an employment case against Goldman Sachs after alleging she was cheated out of millions of pounds. The FT reports.» Read More
Two weeks after Lehman spiraled into bankruptcy, hedge funds that did business with the Wall Street bank are still fighting to get their money out of the firm. For some, it has become a life-or-death struggle, the New York Ties reports.
“Panic can cause a prudent person to do rational things that can contribute to the failure of an institution.” — William A. Ackman of the hedge fund Pershing Square Capital Management.
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Congressional leaders "sweeten" the $700 billion financial rescue package to attract enough House members, particularly Republicans, to pass the plan that failed in the House just two days ago. In the meantime, billionaire investor Warren Buffett takes opportunity of the rocky markets to invest $3 Billion in GE, the parent company of CNBC. Following are today's top videos:
You can’t say Warren Buffett doesn’t have “imagination at work.” The billionaire investor is putting his money behind one of the largest companies on the planet.
Don't believe the pundits. All hope is not lost. Here are the Mad Money host's strategies for surviving this difficult market.
Stocks ended lower Wednesday amid concerns about strained credit markets and the economic slowdown. Banks rallied as investors were encouraged by progress on bailout talks on Capitol Hill. GE got a vote of confidence -- to the tune of $3 billion -- from Warren Buffett.
If some other recent offerings are any indication, this might be the time to buy.
GE's announcement of a $15 billion capital raise ($12 b in common, $3 b in preferred to Warren Buffett with a 10 percent dividend) is difficult news for shareholders, but everyone agrees that two things need to be done:
Warren Buffett is making a $3 billion investment in General Electric in a vote of confidence designed to ease global market fears about the health of its GE Capital unit. He talked about his admiration for GE and his hopes for a bailout package from Congress in a live telephone interview with CNBC's Becky Quick. Here's the unofficial "rush" transcript.
The SEC is likely to extend a ban on short sales of hundreds of stocks beyond Thursday, when the temporary ban is set to expire, staffers have told Wall Street executives.
Stocks declined Wednesday as disappointing economic data added to the weight on investors shoulders over the strained credit market and haggling on Capitol Hill.
Stocks opened lower Wednesday, with investors at the mercy of progress on the proposed government financial bailout package.
Once more, it's the noise coming from Washington Wednesday that could drive markets. Hope that the bill would be resuscitated before the end of the week is sending stocks higher.
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
Tuesday promises more treachery for investors as they navigate markets held captive by politicians and the promise of a rapidly faltering economy.
The House rejected the Wall Street bailout bill and the market screamed, selling off frantically until the Dow was left with its biggest one-day point drop ever. "This is panic and ... fear run amok," Zachary Karabell, president of River Twice Research told CNBC. "Right now we are in a classic moment of a financial meltdown," he said.
CNBC’s Steve Liesman is hearing the Federal Reserve will support "certain banks" to the bitter end.
This depositor backstop could be our only line of defense until Congress can pass a bailout bill.
It was bailout or bust for the markets , but now that Congress has reached agreement on the $700 billion package the focus will shift to the weak economy.