![]()
- The Secret Lives of Traders—Seeking the Next Hot Thing
- Markets Finally Get Greek Deal —So Where's the Rally?
- Warren Buffett: Stocks Will Outperform Gold and Bonds
- Alibaba Plans to Buy Back Yahoo Stake, Go Private
- Greece Deal Fails to Convince, EU Demands More
- 'Mortgage Deal from Hell' Hurts Sound Borrowers: Bove
- Clint Eastwood: Super Bowl Ad Endorses No One
- Zynga, Hasbro Partner to Make Toys, Games
- Home Builder Optimism Up, Industry Expert Says
- Mulling Buffett's Stock Advice? Get in With REITs: Fund Managers
- LinkedIn Earnings Bode Well for Hiring and Social Media
- Top Five Mistakes to Avoid in Online Dating
- Victor Cruz ‘Understands’ Gisele's Super Bowl Frustrations
- Tamminen: The United States of India
- Unusual Volume: Taleo Jumps After Oracle's $1.9 Billion Offer
- Warren Buffett: Stocks Will Outperform Gold and Bonds .. and They're Safer 'By Far'
- So Now You Can’t Give Microsoft Away?
- Robo-Deal Is All About Lowering Mortgage Principal
MOST SHARED
- New York Fashion Week Hits the Runway as Colors Pop
- Cramer: Berkshire Hathaway Is a 'Screaming Buy'
- Australia Central Bank Repeats Policy Right for Now
- Greece Deal Fails to Convince, EU Demands More
- Steelers' Antonio Brown Spends Super Bowl Week with Twitter Fan Turned BFF
- Warren Buffett: Stocks Will Outperform Gold and Bonds .. and They're Safer 'By Far'
- Love @ First Byte: The Secret Science of Online Dating Preview
- LinkedIn Earnings Bode Well for Hiring and Social Media
- Lightning Round: Yahoo!, CEC Entertainment, Standard Pacific and More
- Alibaba Group Plans to Take Hong Kong Unit Private: Report
MOST POPULAR
HOT ON FACEBOOK
Merrill in Talks to Sell Another Big Stake: Report
Merrill Lynch is in talks with Chinese and Middle Eastern government-sponsored investment funds which could lead to the sale of another big stake in the U.S. brokerage, according to a media report.
![]() |
John Thain, the brokerage's new chief executive, is in discussions to bolster the company's capital base through further investments by sovereign wealth funds, Britain's The Observer reported Sunday. This would add to last week's deal to sell up to $6.2 billion in shares to Singapore’s Temasek and asset manager Davis Selected Advisers.
A spokeswoman for Merrill Lynch declined to comment on speculation about another capital infusion.
The report, which cited unnamed sources, warned the latest investment still won't be enough to shore up Merrill's books amid further writedowns.
Merrill Lynch reported writedowns of $8.4 billion in the third quarter because of bad bets on mortgage-backed securities. Analysts expect a further $10 billion in charges when it posts fourth-quarter results in January.
Global banks and investment houses have written down about $105 billion this year due to the global credit crisis. In the meantime, U.S. banks have secured about $30 billion worth of capital from foreign-controlled investment funds.
Since taking over as CEO in November after the ouster of Stan O'Neal, Thain has expressed interest in selling non-core assets to help streamline the business. As part of that makeover, Merrill agreed last week to sell its commercial finance business to GE Capital in a deal to free up $1.3 billion for other parts of the business.
The company also hasn't ruled out the possibility of future investments, as needed, throughout 2008.
Shares of Merrill fell [MER
Loading...
()
] Monday. The stock is down 46 percent from its 52-week high of $97.68 reached on Jan. 24.
- Many have called to abolish the Federal Reserve. But what would happen if it was dissolved for good?
- Entrepreneurs have increasingly been buying back their companies over the last three years.
- Where are the best city locations for singles to take the online dating plunge?
- A Steelers fan spent a week with wide receiver Antonio Brown- and it was all due to tweeting.
- Here’s a look at the woman behind the newest collectible toy that kids love.
- Grab a brew—or not—and click ahead to experience the world’s most highly rated beers.












