Wachovia Stories
Top banks tap Fed discount window
The four largest U.S. banks, led by Citigroup and Bank of America Corp., took the unusual step of borrowing $2 billion directly from the Federal Reserve on Wednesday, as the Fed tries to stabilize tempestuous financial markets by adding money to the banking system.
Lending woes hit commercial real estate market
The havoc in the credit markets could reduce prices that office, industrial, apartment and shopping-center properties have commanded over the past few years.
Federal Home Loan Banks of Chicago, Dallas talk merger
The Federal Home Loan Banks of Chicago and Dallas announced on Wednesday that they have begun preliminary talks about a possible merger as both banks face challenges turning a profit.
Blackstone unit to buy DJO for $1.3 billion
A unit of private equity giant Blackstone Group will buy knee and ankle brace maker DJO Inc. for $1.3 billion, the companies said on Monday.
Prudential Closes Stock Research Arm
Prudential Financial, Inc. (NYSE: PRU), said it would close its stock research, sales and trading division, with over 400 job cuts at 13 locations worldwide expected.
Banks Feel the Fed Squeeze
Profits at large U.S. banks are up, but not as much as they could be. This week and next, banks are reporting their earnings as Wall Street investors cautiously note the factors that could mean lower earnings.