Mumbai, June 12 The stock market today nosedived by 436 points in early trade on a major sell-off by funds in heavy-weight stocks led by banking and realty sectors after the Reserve Bank hiked the repo rate by ...
MWAM's Tad Rivelle says capitalism is such a potent force that it can lead to increased risk sometimes.
China Merchants Bank Co. , the nation's most profitable lender, plans to raise as much as 30 billion yuan in its biggest bond sale to bolster capital after acquiring Hong Kong's Wing Lung Bank Ltd.
Roundtable Discussion with Stuart Hoffman of PNC Financial Services and Mark Hawkinson of Newedge USA
The dollar rose against euro Thursday even though the U.S. Federal Reserve said the American economy is 'generally weak' and investors mulled the prospects of a eurozone interest rate hike.
The 15-nation euro fell in morning European trading to $1.5403, from $1.5571 in New York trading late Wednesday.
In its Beige Book report, which provides readings on the U.S. economy by region, the Fed indicated Wednesday that Americans are feeling the pinch of rising energy and food costs and the economy remains 'generally weak.'
Citigroup Inc. on Thursday said it will close a hedge fund co-founded by Chief Executive Vikram Pandit, just 11 months after the global bank acquired it for more than $800 million.
A dose of good economic news and a buyout offer for Anheuser-Busch Cos. gave Wall Street a big early rebound Thursday, sending the Dow Jones industrials jumping more than 150 points. Treasury prices fell, driving yields higher, as investors returned to stocks.
News of a management shakeup at Lehman Brothers Holdings Inc. drew fresh attention to troubles in the financial sector. Lehman, which earlier this week posted a quarterly loss of $2.8 billion, on Thursday ousted its chief financial officer and chief operating officer. But while long-term concerns likely remain about the sector, financial shares were moving higher. Lehman fluctuated and fell 12 cents to $23.63.
Lehman Brothers said Thursday Chief Financial Officer Erin Callan and Chief Operating Officer Joseph Gregory have been removed from their positions, days after the investment bank announced a $3 billion quarterly loss.
Its shares sank almost 7 percent in morning trading.
The shake-up in Lehman Brothers' top ranks comes after shares of the investment bank slumped more than 25 percent this past week. Investors have been shaken after the company disclosed Monday it needed $6 billion of fresh capital to offset its first loss since going public in 1994. That offering of common and preferred stock is set to close Thursday.
Asian stocks slid on Wednesday with fresh warning sounds on inflation upsetting investors across the region.
Merrill Lynch & Co . Chief Executive Officer John Thain said no longer able to rule out selling a stake in Bloomberg LP or offering new shares to raise capital after credit-market conditions worsened in the ...
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