Stocks ended lower as the unraveling of one of the biggest deals this year overshadowed gains in the energy sector.
Stocks declined Monday as many investors were still away on holiday in this typically low-volume week between Christmas and New Year's.
U.S. stock market futures pointed to a slightly higher open for Wall Street as many investors were still away and with thin trading in Europe and Asia.
Warren Buffett's Berkshire Hathaway sharply increased its stake in ConocoPhillips this spring and summer, accumulating a total of 84 million shares as of the end of the third quarter on September 30, according to Berkshire's just-released quarterly portfolio filing with the SEC.
A series of companies reported earnings Wednesday, offering a mixed picture and generally cautious outlooks.
The American housing market, where the global economic crisis began, is far from hitting bottom, says the New York Times.
Warren Buffett's Berkshire Hathaway has added a new stake in NRG Energy, according to a just-released portfolio 'snapshot' of its holdings in U.S. publicly-traded stocks as of June 30. A sharply reduced stake in Anheuser-Busch may have been a bet that InBev's initially unsolicited offer for the U.S. brewer would prove to be unsuccessful. Conoco-Phillips data is kept "confidential."
Connecticut Attorney General Richard Blumenthal said Wednesday he will take legal action against the three major rating agencies, which he accused of "deceptive and unfair practices."
The European Commission wants to cooperate closely with the U.S. Securities and Exchange Commission (SEC) on the planned regulation of credit rating agencies, the German financial weekly Euro am Sonntag reported.
Dow Chemical, which earlier Thursday announced a deal to acquire Rohm and Haas for $18.8 billion, has early indication from credit ratings agency Moody's that its debt will remain investment grade following the deal, said Chief Executive Andrew Liveris on Thursday.
Already under intense scrutiny for its role in the credit crisis, the Moody’s Corporation said Tuesday that some employees had violated its code of conduct in rating complex European securities, The New York Times Reports.
Moody's Investors Service, a credit rating agency, said Tuesday it disciplined employees for considering improper factors when assigning ratings to complicated European debt products known as constant-proportion debt obligations.
The U.S. Federal Reserve cannot lower interest rates at the moment, given high oil prices and the spectre of inflation, John Lonski, chief economist at Moody's rating agency, told La Repubblica newspaper.
New York Attorney General Andrew Cuomo on Thursday reached agreements with Moody's Investors Service, Standard & Poor's and Fitch Ratings that will change the way credit rating agencies are paid by investment banks for reviewing mortgage-backed securities.
Moody's Investors Service and other rating agencies have signed an agreement with New York Attorney General Andrew Cuomo addressing rating practices, including fees, Moody's Chairman Ray McDaniel said Thursday.
Three large credit rating firms are close to announcing a broad deal with the New York attorney general to reform some of their core business practices, The New York Times reports.
Following are the week’s biggest winners and losers. Find out why shares of Hexcel and Amazon popped while Sigma dropped.
Credit rating agencies will be banned from helping to design products they also grade as part of a tougher industry code of conduct to tackle issues raised by the U.S. subprime mortgage crisis such as conflicts of interest.
Following are the week’s biggest winners and losers. Find out why shares of Foot Locker and Coca-Cola popped while Home Depot and Moody's dropped.
Following are the day’s biggest winners and losers. Find out why shares of Wendy's and Dell popped while Moody's and Under Armour dropped.