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Bear Stearn's Cos. shareholders on Thursday gave their approval to sell the investment bank to rival JPMorgan Chase & Co. for about $2.2 billion.

Financial shares fell on Tuesday, triggered by renewed concerns about the economy.

JPMorgan Chase & Co will keep about 45 percent of Bear Stearns Cos. employees after the two banks complete their merger, JPMorgan's chief executive said.

An Openheimer & Co group of analysts led by Meredith Whitney cut their earnings outlook for major U.S. banks, saying the current credit crisis is not close to ending.

U.S. stocks plunged on Tuesday after oil soared to nearly $130 a barrel fueling concerns that commodity prices will further dampen U.S. consumption levels, while analysts forecast more credit losses and faster inflation.

Citigroup chief executive Vikram Pandit is set to present his plans and outlook for the largest U.S. bank, when it holds its annual Investor Day meeting on Friday.

Target Corp., the second-largest discount store in the U.S, has agreed to sell a 47 percent stake in its credit-car loans to J.P. Morgan Chase & Co. for $3.6 billion to raise cash for stock buybacks in a deal that was urged by activist shareholder William Ackman.

UAL's United Airlines is contemplating asking its banks to revise the terms of its credit facility in a bid to gain crucial financial flexibility to withstand the airline industry's sharp slump, according to media reports released Monday.

JPMorgan Chase & Co. executives anticipate the real estate market to keep falling, with prices dropping as much as 9 percent in 2008.The New York-based bank's chief executive Jamie Dimon t...

A pair of the largest U.S. banks reported that profits in the first quarter fell due to the housing downturn but they still managed to beat Wall Street analysts' expectations sending shares higher.

JPMorgan Chase & Co., the third largest U.S. bank beat expectations on Wednesday, despite reporting a 50 percent drop in first quarter profit as it wrote down $5.1 billion in assets linked to mortgages and other loans.

A Washington Mutual Inc director resigned on Tuesday under pressure from shareholders who have faulted the company for its declining market value amid a sharp housing downturn.

Washington Mutual Inc. reported a first-quarter loss of $1.14 billion late Tuesday, as the lender continues to suffer from the mortgage meltdown and credit crisis.

Bear Stearns, the fifth-largest U.S. investment bank, reported late Monday that its first quarter profit plunged 79 percent just ahead of the confidence crisis which forced a sale of the bank to rival JPMorgan Chase & Co.

J.P. Morgan Chase & Co. is expected to report that its first quarter profit fell by more than 50 percent on Wednesday due to potential additional write-downs, and other expenses related to the tough mortgage market.

Investment Bank Bear Stearns Cos. released some details of the heavy losses it suffered in the months before it nearly went bankrupt and agreed to sell itself to rival JPMorgan Chase & Co.

Battered by subprime mortgage losses, savings and loan bank Washington Mutual, Inc sold $7 billion in shares to a group of investors led by TPG Capital and will stop providing home loans through brokers while closing all its free standing home loan offices.

U.S. stocks on Tuesday fell the most in seven days after Alcoa Inc.'s earnings fell short of forecasts and Washington Mutual Inc. was forced to slash its dividend in a $7 billion bailout. Washington Mutual led financial shares lower after the largest savings and loan cut its payout by 93 percent and projected a first-quarter loss of $1.1 billion.

Savings and loan bank Washington Mutual, Inc is on the verge of securing a $5 billion investment from private equity buyout group TPG and other investors after suffering big losses in recent months due to the current credit crisis.

New York Federal Reserve Bank Chairman Timothy Geithner defended the bank's decision to assist in the JPMorgan Chase merger with Bear Stearns, saying it was the best option available under the circumstances.

Federal Reserve Chief Ben Bernanke said that failure to loan up to $30 billion in funds to Bear Stearns would have led to its bankruptcy and a chaotic chain of events which would have severely shaken confidence in financial markets.

OPEC President Chakib Khelil said over the weekend that he expects the price of crude oil to range between $80 and $110 per barrel in 2008.

CITIC Securities Co, one of China's largest brokerages, formally announced on yesterday that it would cancel a proposed $1 billion investment in Bear Stearns Cos after the Wall Street brokerage was bought by JPMorgan Chase & Co.

Treasuries rose on Monday after the Federal Reserve moved to add liquidity to the credit and financial markets with a pair of moves over the weekend and aid for struggling investment bank Bear Stearns.

U.S. stocks dropped at the open on Monday after the Federal Reserve cut its discount interest rate at an emergency meeting and JP Morgan Chase & Co. agreed to buy Bear Stearns Cos. for $2 a share, fueling fears that the global credit crisis is spiraling out of control.

Shares of Bear Stearns Cos. fell nearly 50 percent on Friday after the Federal Reserve, through JPMorgan Chase & Co, gave the struggling investment bank an emergency loan.

Who would be the last man standing at the Wall Street bank

Gold futures spiked to a new record of $1,009 an ounce in New York on Friday, as investors turned to the safe haven after news of a bailout from troubled investment bank Bear Stearns while the plunging demand increased demand for the precious metal.

U.S. Treasury note prices rose on Friday after amid continuing struggles in the financial sector as the Federal Reserve, through JPMorgan Chase, gave emergency funds to struggling investment bank Bear Stearns.