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JPMorgan Chase & Co Inc said on Wednesday third-quarter net income rose 2.3 percent despite $1.64 billion in write-downs on leveraged loans and collateralized debt obligations.

Stock futures rose on Wednesday as a rush of stronger-than-expected profits from such blue chips as Intel, United Technologies and JPMorgan Chase reassured investors about the earnings outlook.

U.S. stocks fell on Monday, led lower by the financial services sector after Citigroup Inc offered a gloomier outlook and worries resurfaced about the stability of the buyout market.

Shares of Sony Financial Holdings Inc rose nearly 4 percent on their debut on Thursday, as a stock market rebound boosted demand for the financial firm that recently completed Japan's largest IPO this year.

JPMorgan Chase & Co Chief Executive Jamie Dimon has given investors plenty to worry about throughout the year, but they have shrugged off his cautionary remarks and embraced his couched reassurances. It might be time to reconsider Dimon's cautionary side after Merrill Lynch & Co Inc unveiled a $5.5 billion credit implosion last week.

Bear Stearns Cos Inc said on Thursday it expects that departing star money manager will take about $8 billion of its asset management division's $44 billion of assets with him.

Bear Stearns Cos Inc is seeing renewed flows in the financial markets as fear eases after this summer's credit crunch, the firm's president said on Thursday.

Bear Stearns Cos said on Wednesday it was cutting 310 jobs in its mortgage lending business, making the Wall Street bank the latest to lay off staff as a result of the lingering subprime mortgage crisis.

Interstate Bakeries Corp, the bankrupt maker of Wonder Bread and Twinkies snacks, said on Wednesday its lenders reduced the amount the company can borrow as it struggles to stay in business.

Stocks surged on Monday, sending the Dow to a record close on the first trading day of the fourth quarter, as investors bet that Wall Street may have seen the worst of the credit squeeze after three global banks detailed expected losses from the crisis.

Sony Corp's financial arm will raise $3 billion after setting its IPO price at the top end of an indicated range as investors looked past the U.S. subprime crisis and bet on its growth potential in the banking and insurance markets.

Is The New China's Investment Agency the Road to Riches?

Shares of Bear Stearns Cos Inc fell 3 percent on Thursday afternoon after a CNBC report downplayed any talks between the investment bank and potential outside investors.

A $25 billion takeover of Sallie Mae was on the verge of collapse on Wednesday after the student lender said a consortium does not expect to complete its planned acquisition on the agreed terms.

The consortium that agreed to buy student lender Sallie Mae for $25 billion said on Wednesday that as of today conditions for the closing of the deal would not be met.

Bear Stearns Cos Inc shares jumped 4 percent on Wednesday on rumors the investment bank, which has faced hedge fund losses and asset write-downs, is close to selling a minority stake to another financial institution, traders said.

Stocks gained on Wednesday as a tentative labor agreement at General Motors Corp eased worries about Detroit's automakers and more weak economic data added to expectations for another cut in interest rates.

Singapore lender DBS Group's chief executive resigned on Monday, after a run of bad news battered the company's share price, leaving an unfulfilled quest to make the bank a big Asian player.

Bear Stearns Cos Inc said on Thursday quarterly profit plunged 61 percent to its lowest level in five years on bad bets on subprime mortgages and disrupted fixed-income trading.

Wall Street bank Morgan Stanley plans to buy into China's Jutian Fund Management Co in a move to tap China's red-hot wealth management sector, sources close to the situation said on Wednesday.

Stocks fell on Monday as savers demanded their money back from embattled British bank Northern Rock, adding to global credit concerns before an expected U.S. interest rate cut this week.

Countrywide Financial Corp shares closed down almost 2 percent on Tuesday following a report the largest U.S. mortgage lender was working on a strategic investment similar to the deal with Bank of America Corp last month in which it received a $2 billion injection.

British billionaire investor Joseph Lewis has acquired a 7 percent stake in brokerage Bear Stearns at a time when the troubled firm has suffered significant losses due to the subprime mortgage crisis.

Joseph C. Lewis, who became a billionaire trading currencies, has taken a 7 percent stake in Bear Stearns Cos Inc, snapping up about $860 million worth of the investment bank's stock over the past two months. He became one of the company's biggest shareholders, if not the largest. Shares shot up more than 3 percent.

JPMorgan Chase & Co, which has one of the largest U.S. student lending operations, said on Friday it will hire up to 150 Indianapolis-based workers from Nelnet Inc to expand its loan-origination operations.

President George W. Bush's plan designed to limit the number of Americans who default on subprime mortgages might be a small positive for the commercial and investment banks exposed to them but does little to alleviate broader concerns about credit losses, analysts said.

Wall Street bank Bear Stearns Cos, which is building up its business outside the United States, has appointed John Moore, co-head of fixed income for Europe, to be its chief executive for Asia.

One week into the Federal Reserve's effort to grease the rusty wheels of the U.S. credit system, Wall Street is wondering just who needs the money because there's no line at the window.

The multi-billion-dollar market for securitized student loan debt, a financial mainstay supporting U.S. higher education, is facing new stresses as Congress moves to reshape the troubled student loan industry.