More Wall Street firms, facing the specter of tougher regulation and slumping capital markets, will follow the path of Bear Stearns and be forced into the arms of deposit-rich commercial banks, veteran banking analyst Charles Peabody told Reuters.
As discontent grows inside Lehman Brothers over the firm's financial problems, pressure is building on Chief Executive Officer Richard Fuld to sell the securities firm to a bigger player, CNBC has learned.
With the tear that Talbot’s stock price has been on, I think that it is safe to say that investors like what they heard from CEO Trudy Sullivan yesterday. Still that $50 million credit facility that it secured from Japanese retailer Aeon (also TLB’s largest shareholder) is a relatively small step in what will be a big turnaround project.
HSBC, Europe's biggest bank, might consider pulling out of a $6.3 billion deal to take over South Korea's No. 6 bank, Korea Exchange Bank, its Asia chief said on Wednesday.
Some of the nation’s biggest banks have closed their doors to students at community colleges, for-profit universities and other less competitive institutions, the NYT reports.
The chief executive of Europe's biggest lender on Tuesday called on central bankers to raise interest rates in order to combat inflation.
HSBC said on Monday it was committed to a $6.3 billion takeover of South Korea's No. 6 bank, but warned it would not wait forever for approval of a deal seen as a major test of the country's openness to foreign investors.
Stocks started the week off higher, led by financials and technology stocks. RIMM and MBIA rose, while HP declined.
Stocks started the week off higher as the dollar rose to a two-month high and oil receded. MBIA bounced despite reporting an astouding quarterly loss.
HSBC writes down $3.2 billion in bad debt and says 5% of US mortages are 2-months or more overdue. But profit, shares rise.
The global imbalances story is well documented. The spend thrift United States has borrowed trillions at a government and consumer level whilst cash rich economies in Asia and the Middle East have been more than willing to fund the spending spree
British bank First Direct has withdrawn mortgages for new customers to clear a backlog after people flocked to its relatively cheap rates as other lenders raised rates due to the credit crunch.
HSBC Holdings, Europe's largest lender, may make acquisitions in the United States and has no plans to pull out of that market despite the subprime mortgage woes, the South China Morning Post reports.
Shares in HSBC jumped on Monday after reports the global lender will try to raise its stake in China's fifth-largest lender, a move that would be further evidence of its shift to Asian markets.
South Korea's corporate watchdog, the Fair Trade Commission, approved HSBC Holdings'planned acquisition of Korea Exchange Bank, saying the merger would not hurt marketcompetition. Lone Star Funds signed an agreement to sell its 51% stake in KEB to HSBC Holdings for over $6.3 billion last year.
Following are the day’s biggest winners and losers. Find out why shares of HSBC (HBC) and Supervalu (SVU) popped while Google (GOOG) and LDK Solar (LDK) dropped.
Stocks recovered from earlier losses to finish flat Monday in a volatile session riddled with weak economic data, big auto-sales declines and concerns about more fallout from the housing slump.
Stocks turned mixed Monday after Ford turned in better-than-expected sales results and announced layoffs.
HSBC, Europe's biggest bank, said its profit rose 10 percent last year as strong business in Asia and emerging markets offset bad debts in the U.S.
Wall Street looks set to start the week in negative territory as stock index futures pointed lower on renewed fears for the fate of the economy.