- White House Plans to Freeze Spending to Cut Deficit
- Week Ahead: Investors Go for Quality, Assess Recovery
- Hedge Fund Billionaire Paulson Reports New Citi Stake
- Cramer: 5 Earnings Reports to Watch Next Week
- Court Rejects 'Clawbacks' for Alleged Stanford Victims
- Cities With the Most Home Price Reductions
- Tax Credit Sparking First-Time Home Sales: Realtors
- Investors Cut Back US Stocks for Bigger Growth Abroad
- This Year's Biggest Thanksgiving Leftover: Cash
- U.S. Stocks Rally for the Second Straight Week
- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
- Hirschhorn: Risk-Averse Traders
- Roginsky: A Funny Thing Happened on the Way to Financial Reform
- This Year's Biggest Thanksgiving Leftover: Cash
- TV Series Inks Unique Deal For Fight
- First Time Buyers Rescue Housing: Realtors
- Dollar General Trades Higher After Its IPO
MOST SHARED
- Today's Market Action
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- Low Interest Rate Investing
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- China's Role as Lender Alters Dynamics for United States
- Israel Going Green
- Inside Wal-Mart's Acai Berry Juice Maker
- CNBC TRANSCRIPT: Warren Buffett & Bill Gates - Keeping America Great
Text Size 
Mizuho Financial Group, Japan's second-largest bank, will further delay the merger of two affiliate brokerages due to ballooning subprime losses at unit Mizuho Securities, the Nikkei business daily said on Friday.
The bank has already pumped about 400 billion yen (US$4 billion) into Mizuho Securities after the broker was hit by bad investments in U.S. subprime mortgages.
The unlisted unit was originally scheduled to merge with another Mizuho affiliate, Shinko Securities, in January to form Japan's fourth-largest securities company in terms of assets under management.
That deal has already been postponed to May because of the difficulty in setting a merger ratio, as Mizuho Securities' subprime investments are now nearly impossible to price.
The merger may be pushed back to January 2009 due to further subprime losses at Mizuho Securities, the Nikkei said.
Both Mizuho Securities and Shinko said in a joint statement that nothing had been decided.
A spokeswoman for Mizuho Financial Group, Masako Shiono, declined to comment.
Mizuho Securities reported a first-half net loss of 27 billion yen, although domestic media reports have said that could widen to 100 billion yen for the full year. Unlisted Mizuho Securities reports earnings only twice a year.
Print
Email
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- For the chief of cable company Comcast, growth has been about making deals – generally very large deals.
- Some companies may start using insurance to shift carbon risk from their balance sheets to maybe... yours?
- The president and founder of Genesis Today wants to improve America’s health, and thinks Wal-Mart can help.
- Switzerland's privacy watchdog is taking legal action to force Google to make changes to its Street View service.
- A wealthy, distracted Texas driver crashed his million-dollar Bugatti Veyron sports car into a salt marsh, say police.
Data is a real-time snapshot *Data is delayed at least 15 minutes