International Business News - GS http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Shares of investment banks mostly rose Wednesday afternoon, as the broader market edged higher and the financial services sector continued to recover from lows seen earlier in the month. http://www.ibtimes.com/articles/20080723/sector-snap-investment-banks-mostly-rise.htm Wed, 23 Jul 2008 15:44:57 EDT The U.S. ambassador to India said Wednesday he hoped a landmark deal on nuclear energy cooperation with the United States could be sent to Congress for approval in September, one day after India's government won a confidence vote that paves the way for the agreement to move forward. http://www.ibtimes.com/data/articleimgs/96285-india-nuclear-vote.jpg http://www.ibtimes.com/articles/20080723/opponents-form-alliance-against-indian-government.htm http://www.ibtimes.com/articles/20080723/opponents-form-alliance-against-indian-government.htm Wed, 23 Jul 2008 10:42:40 EDT Wachovia Corporation, the nation's fourth largest-bank, said Monday that it is leaving the wholesale mortgage lending business. Beginning July 25, the company will no longer offer mortgages through brokers, joining other lenders making similar moves to exit the troubled sector. http://www.ibtimes.com/articles/20080721/wachovia-exits-wholesale-mortgage-lending-business.htm Mon, 21 Jul 2008 20:13:31 EDT Shares of investment banks mostly fell Monday afternoon despite improved activity in the mergers and acquisitions market over the past week. Morgan Stanley shares posted the largest decline, falling $1.72, or 4.5 percent, to $36.85. http://www.ibtimes.com/articles/20080721/sector-snap-investment-banks.htm Mon, 21 Jul 2008 14:14:21 EDT Wachovia Corp. reports second-quarter financial results on Tuesday. The following is a summary of key developments and analyst opinion related to the period. http://www.ibtimes.com/articles/20080721/earnings-preview-wachovia-2q-results.htm Mon, 21 Jul 2008 06:09:26 EDT Merrill Lynch & Co. shares fell Friday a day after the investment bank reported larger-than-expected losses for the second quarter. Merrill Lynch shares fell 55 cents to $30.18 in midday trading. http://www.ibtimes.com/articles/20080718/merrill-lynch-shares-fall-after-reporting-results.htm Fri, 18 Jul 2008 12:19:55 EDT Shares of several investment banks fell Friday morning before recovering later in the session, a day after Merrill Lynch & Co. reported worse-than-expected results for the second quarter and Moody's Investors Service cut Lehman Brothers' long-term senior rating. http://www.ibtimes.com/articles/20080718/sector-snap-investment-banks.htm Fri, 18 Jul 2008 10:47:17 EDT Shares of investment banks rose sharply Thursday, boosted by better-than-expected results at a series of banks the past two days and ahead of Merrill Lynch & Co. reporting later in the day. http://www.ibtimes.com/articles/20080717/sector-snap-investment-banks-up-on-jpmorgan-beat.htm Thu, 17 Jul 2008 12:00:58 EDT Oil and natural gas company EXCO Resources Inc. said Wednesday it is working with Goldman Sachs & Co. to explore a possible joint venture that could include the sale of up to 50 percent of its holdings in certain regions. http://www.ibtimes.com/articles/20080716/exco-resources-explores-possible-joint-venture.htm Wed, 16 Jul 2008 10:58:10 EDT Robert Steel has his work cut out for him and he knows it. The former Treasury Undersecretary and Goldman Sachs Group Inc. executive, who took over as CEO of Wachovia Corp. on Thursday, has wasted no time in acknowledging the difficulties that lay ahead for the nation's fourth-largest bank as it seeks to recover the industry-leading position it once had. http://www.ibtimes.com/data/articleimgs/89840-wachovia-steel-q-a.jpg http://www.ibtimes.com/articles/20080711/ap-interview-q-a-with-wachovia-ceo-robert-steel.htm http://www.ibtimes.com/articles/20080711/ap-interview-q-a-with-wachovia-ceo-robert-steel.htm Fri, 11 Jul 2008 16:37:06 EDT Shares of investment banks tumbled Friday amid continued worries about the financial stability of Lehman Brothers Holdings Inc. and mortgage companies Fannie Mae and Freddie Mac. http://www.ibtimes.com/articles/20080711/closing-glance-investment-banks.htm Fri, 11 Jul 2008 16:20:14 EDT Shares of investment banks tumbled Friday morning as the broader market sank amid worries government-sponsored mortgage giants Fannie Mae and Freddie Mac might need a government bailout. http://www.ibtimes.com/articles/20080711/opening-glance-investment-banks.htm Fri, 11 Jul 2008 09:51:00 EDT Shares of investment banks closed mostly down Thursday after a volatile session that included fresh rumors Lehman Brothers Holdings Inc. could be facing financial difficulties, and federal policy makers warning no bank is too large to fail during the current credit crisis. http://www.ibtimes.com/articles/20080710/closing-glance-investment-banks-end-mostly-down.htm Thu, 10 Jul 2008 16:15:09 EDT Shares of investment banks fluctuated between gains and losses after the opening bell Thursday, as continued worries over deterioration in the credit markets tempered a boost for the broader market from better-than-expected retail sales reports from discounters and recent merger activity. http://www.ibtimes.com/articles/20080710/opening-glance-investment-banks-wobble.htm Thu, 10 Jul 2008 09:55:49 EDT General Electric Co. announced Thursday that it wants to spin off its iconic lighting and appliance businesses, the latest aggressive move by one of the world's largest companies to reshape its portfolio to focus on faster growth businesses. http://www.ibtimes.com/articles/20080710/ge-targets-spinoff-of-consumer-industrial-unit.htm Thu, 10 Jul 2008 16:46:50 EDT On his first day as the new CEO of Wachovia Corp., Robert Steel saw the stock tumble to a 17-year low and faced questions about his ability to rescue the nation's fourth-largest bank from its own missteps and the roiling credit market. http://www.ibtimes.com/data/articleimgs/88930-wachovia-ceo.jpg http://www.ibtimes.com/articles/20080710/wachovia-confirms-steel-to-lead-bank.htm http://www.ibtimes.com/articles/20080710/wachovia-confirms-steel-to-lead-bank.htm Thu, 10 Jul 2008 16:19:55 EDT Wachovia Corp., the nation's fourth-largest bank, named Treasury Undersecretary Robert Steel chief executive on Wednesday, ending a nearly six-week search for a new leader. http://www.ibtimes.com/data/articleimgs/88814-wachovia-ceo.jpg http://www.ibtimes.com/articles/20080709/reports-wachovia-narrows-ceo-search.htm http://www.ibtimes.com/articles/20080709/reports-wachovia-narrows-ceo-search.htm Wed, 09 Jul 2008 20:17:28 EDT Shares of investment banks fell Wednesday after Fitch Ratings warned it might cut the long-term rating of Merrill Lynch & Co., and as the broader market declined sharply amid concern about second-quarter profit results and oil prices. http://www.ibtimes.com/articles/20080709/closing-glance-investment-banks-fall.htm Wed, 09 Jul 2008 16:12:09 EDT A deal could be reached within days to sell a majority interest in the Pittsburgh Steelers to the chairman of a Pittsburgh-based investment firm, taking control of the NFL franchise away from the Rooney family. http://www.ibtimes.com/articles/20080709/financier-makes-bid-for-steelers.htm Wed, 09 Jul 2008 11:35:46 EDT Fitch Ratings on Wednesday affirmed its long-term issuer-default ratings for investment banks Goldman Sachs Group Inc., Lehman Brothers Holdings Inc. and Morgan Stanley, while placing Merrill Lynch & Co.'s rating on negative watch. http://www.ibtimes.com/articles/20080709/fitch-reviews-investment-banks-long-term-ratings.htm Wed, 09 Jul 2008 10:59:02 EDT