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A shareholder coup at newly merged commodities group Glencore Xstrata ousted chairman Sir John Bond on Thursday, along with all other former directors from Xstrata.
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European nations scrambled on Sunday night to prevent a growing credit crisis from bringing down major banks and alarming savers as troubles in financial markets spread around the world, accelerating economic downturns on three continents, the New York Times reported.
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Stocks logged a 200-point gain amid news that lawmakers are close to reaching an agreement on a Wall Street bailout.
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Stocks shot up after a report that lawmakers are very close to reaching an agreement on a Wall Street bailout.
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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.
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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.
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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.
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Asian stock markets were jittery Wednesday, as fears that U.S. lawmakers will stall a proposed $700 billion bailout of the battered financial sector haunted investors and a firmer yen hurt Japanese exporters.
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Washington Mutual, the large U.S. savings and loan beleaguered by mortgage losses, is pressing ahead for a takeover deal by talking to multiple suitors, as well as exploring options to raise capital, sources familiar with the situation said Tuesday.
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Here's the sweet part: it's a quadruple witching expiration!! Options desks are frantic, because everyone has to cover their short calls in financials.
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If you’re looking to trade during this mess you'll want to get far away from Wall Street. But how far?
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The Fed, the European Central Bank, Bank of England, Bank of Japan, Bank of Canada, and the Swiss National Bank are all pumping dollars into the global system. Fed made an additional $180 billion available to central banks to lend out.
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Morgan Stanley is negotiating with the Chinese government for a fresh infusion of funds into the beleaguered investment bank, sources tell CNBC.
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Wall Street tumbled to a three-year low on Wednesday after the rescue of AIG failed to calm a crisis of confidence in global markets, leaving banks scared to lend to each other.
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Washington Mutual has put itself up for auction, people briefed on the matter told the New York Times.
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Increasing optimism about loans to the U.S. auto industry helped drive major indexes out of negative territory. General Motors was the top gainer on the Dow Jones Industrial Average and S&P 500, while Ford was among the top gainers on the Nasdaq.
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Increasing optimism about loans to the U.S. auto industry helped drive major indexes out of negative territory. General Motors was the top gainer on the Dow Jones Industrial Average and S&P 500, while Ford was among the top gainers on the Nasdaq.
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Increasing optimism about loans to the U.S. auto industry helped drive major indexes out of negative territory. General Motors was the top gainer on the Dow Jones Industrial Average and S&P 500, while Ford was among the top gainers on the Nasdaq.
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Lehman Brothers, which is actively shopping the entire firm, is unlikely to remain independent much longer.
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The Lehman Brothers CEO missed every chance he had to save his firm.
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After the close yesterday, RBC Capital put out a note: "Next Credit Shoe to Drop on Banking Industry: We believe commercial and industrial loans (C&I), commercial real estate and non-resi construction loans will be the next credit problems for the banking industry brought on by the weakening in the US and Global economies."