Stocks News

First came the record-breaking rise of gas prices. Next came the end of leasing.

Regional bank Fifth Third Bancorp said Wednesday it received $3.4 billion as part of the government's $700 billion bank investment program.

London's blue chip share index closed 2008 with the worst annual performance in its 24-year history.

Citigroup said Wednesday it's issuing $20 billion of its perpetual preferred stock to the U.S. Treasury Department as part of the Troubled Asset Relief Program [TARP]. In a filing with the Securities and ...

Becoming developed market may attack $16 billion to South Korean stocks; Analysis by Mark Makepeace, CEO of FTSE Group

UBS AG said Wednesday it has sold its stake in Bank of China in a deal estimated to be worth around $900 million.

The Swiss bank bought 3.4 billion 'limited H-shares' in Bank of China for $500 million in 2005 _ equivalent to a stake of about 1.6 percent.

The Zurich-based bank declined to say how much it gained from the sale, but based on Bank of China's stock price on the Hong Kong exchange the deal would be worth about $900 million.

UBS said it will continue its business relationship with Bank of China despite the sale.

From Tokyo to Mumbai, Asian stocks plunged by record amounts this year as the region's powerhouse economies lost steam and foreign investors pulled billions of dollars from its once-booming markets.

Dizzying losses felt around the world were all the more painful in Asia, whose stocks had long been seen as a safe haven from financial turmoil in the West _ another myth that burst along with the housing, credit and commodities bubbles in the global crisis of 2008.

In many cases, markets that benefited most during a bull run that gathered momentum from 2006 were hit hardest as it ended.

Credit Suisse Group said Wednesday it is selling parts of its asset management business to Aberdeen Asset Management PLC in return for a 24.9 percent interest in the British investment firm.

The move will see Switzerland's No. 2 bank transfer some 75 billion Swiss francs ($70.93 billion) in managed assets to Aberdeen.

Credit Suisse said it will receive almost a quarter of Aberdeen's future stock in return, valued at 381 million francs ($360 million), and take a seat on Aberdeen's board.

Investors nearing the end of a brutal 2008 made some modest bets Tuesday, sending stocks higher after taking some comfort in the government's decision to provide $5 billion to General Motors Corp.'s troubled ...

Economy slumps as housing, consumer confidence weigh; Home prices in 20 major cities tumble 18% from year ago; Analysis by Ethan Harris of Barclays Capital Inc.