China is asserting control over local government financing by filling the gap with a huge expansion of the fledgling municipal bond market.» Read More
Citigroup said it would buy out minority shareholders in scandal-hit Japanese brokerage Nikko Cordial for $4.6 billion, as part of the financial giant's push into the world's second-largest economy.
Good morning. Here's what I see for today: 1) We have been talking about the "decoupling" of the U.S. economy from the global economy--not that the U.S. isn't important to global growth (of course it is); but that the world is not as dependent on the U.S. consumer as it had been in the past.
Markets around the world rocked on after yesterday's record setting session on Wall Street and U.S. stocks are set to move moderately higher on the open. Merger activity tops the news with an offer from Canada's TD Bank Financial Group's to buy Commerce Bank for $8.5 Billion.
Pressure is mounting on Deutsche Bank to reveal the full impact of a global credit crisis on its results after UBS announced a shock third-quarter loss and Citibank said profits were badly hit.
To answer the headline: James Bevan would. Our guest host Monday morning said yep, he would buy. But he could only think of one: SocGen. He described the French bank as an attractive opportunity in an unloved sector. What about the rest?
Stocks rallied on the first day of the fourth quarter as new fund inflows and rising hopes for further Fed rate cuts catapulted the Dow into record territory. "Given that Citigroup and UBS reported bad news yet the market still went up, the market is telling us is that all the bad news is already in there," said Douglas Peta, market strategist at J. & W. Seligman.
Bears are besides themselves today. One wrote to me: "If you told anyone that the market would have made a new high with gold, oil, dollar, falling home prices, etc...there would be many takers on that bet."
Citigroup, the largest U.S. bank by market value, said Monday its third-quarter net income will drop 60% on losses and writedowns stemming from subprime and leveraged loan woes.
UBS, the world's largest wealth manager, unveiled $3.4 billion in losses, swept out senior managers and slashed jobs in one of the biggest casualties yet from the worldwide credit crunch.
Profit warnings from banks hit by U.S. subprime-related losses are likely to continue throughout the quarter, Elissa Bayer, director of private clients at Insinger de Beaufort, told "Worldwide Exchange" Monday.
Good morning. As we begin the fourth quarter--traditionally the strongest--there are two topics on trading desks: 1) earnings season, and 2) to what extent the U.S. slowdown will spread to the global economy.
European stocks were seen retreating on Monday on renewed concerns over the outlook for banks after UBS warned it will post a pretax loss of between 600 million and 800 million Swiss francs in the third quarter as it writes down positions.
Technical analysis is becoming a mainstream way to time and predict stock moves and market tops and bottoms. Carter Worth, chief market technician at Oppenheimer, joined the panel to explain what he’s seeing – and where he thinks we’re going.
A worsening credit crunch and its broad impact on financial markets has some dealmakers predicting that leveraged buyouts are on hold for the rest of the year and perhaps well into 2008.
Honeywell, Goodyear, Cummins, US Bancorp and more...Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
CNBC's Bob Pisani reports on what traders are telling him before the market opens: The European Central Bank for a fourth day needed to add extra cash into the overnight lending market. But the action is working. Overseas markets are largely calm.
Swiss bank UBS, the world's largest wealth manager, beat forecasts with record second-quarter profits but warned that market turmoil was likely to hit its investment banking business in the second half of the year.
U.S. regulators are scrutinizing the books of Wall Street's largest investment banks amid questions they are hiding losses from subprime mortgages, people familiar with the inquiry said.
U.S. mortgage roadkill is fresh and ripe for the picking. Countrywide Financial demonstrated that on Tuesday when it announced plans to buy five retail mortgage branches from HomeBanc, which is exiting the business after its stock was delisted last week for trading around 30 cents a share.
U.S. stocks futures are slightly firmer ahead of the opening in a market still cranky about credit worries and pondering the Fed's next move. European stock markets are mixed after trading lower this morning, and Asian stocks were lower overnight.