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is not happening in this merger. Mattera said San Francisco-based Wells Fargo is taking other steps to retain brokers, including higher payouts through Wachovia Securities' 4front client loyalty program. He also said Wells Fargo plans in May to change Wachovia Securities' name to Wells Fargo Advisors. Prudential Financial Inc has a 38 percent stake in Wachovia Securities,...

Shares of Warren Buffett's Berkshire Hathaway Inc sank Friday to their lowest level in 5-1/2 years amid concern about big potential losses from bets on world stock markets and U.S. banks. Berkshire's Class A shares fell as much as 6.2 percent to $73,750, their lowest level since August 2003, before rebounding after the White House said it strongly believed the U.S....

Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders.

NEW YORK - Wells Fargo & Co shares fell on Wednesday to their lowest level in almost 12 years before recovering amid fears the fourth-largest U.S. bank could cut its dividend and post higher losses after its purchase of Wachovia. The combined Wells Fargo and Wachovia last month posted a $13.72 billion fourth-quarter loss as it set aside more money to cover sour mortgages and ot...

and someone will need to buy the bonds to pay for it. Based on the data, there is little to suggest that interest in U.S. government debt is drying up, said Vassili Sereberiakov, senior currency strategist at Wells Fargo on New York. (Additional Reporting by Lynn Adler, Ryan Vlastelica, Gertrude Chavez-Dreyfuss)

The lawmakers of House Financial Service Committee on Wednesday are holding a hearing with chief executive officers of eight banks that received injections of capital from the government's Troubled Asset Relief Program.

Wells Fargo said Wednesday it swung to a fourth quarter loss of about $2.6 billion, hurt by credit write-downs to reduce the need for future loan loss provisions on Wachovia Corp's risky assets.

Landry's Restaurants Inc. has canceled its $217.4 million deal to sell the company to Tilman Fertitta, -- the firm's Chairman and CEO -- on Monday due to unusual circumstances, involving two parts: the lenders and the U.S. Securities and Exchange Commission.

Wachovia falls amid concerns over dividend, joint ventureWachovia Corp shares fell on Monday after concerns that the bank may cut its dividend and buy back its stake in a brokerage venture with Prudential Financial Inc.Shares of Wachovia fell 67 cents, or 4.13 percent, to $15.56 at 3:02 p.m. in late afternoon trading.Analysts at Fox-Pitt Kelton Cochran Caronia Waller indicated risks that Wachovia, along with Comerica and Marshall & Ilsley were most at risk at having their dividen...

After heavy losses and pressure from shareholders to return to profitability, directors at two large U.S. banks - Wachovia Corp. and Washington Mutual Inc. - on Monday announced top-level management changes.

Wall Street began June in the red, falling for the first time in five days, as the Dow quickly lost more than 100 points Monday morning on more worries about the financial sector after Wachovia Corp. ousted its chief executive.

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.

Berkshire Hathaway, billionaire Warren Buffett's investment company, sold its stake in Ameriprise Financial earlier this year, according to a regulatory filing on Thursday.

Wachovia Corp., the fourth largest U.S. bank, said on Thursday that it is separating the roles of Chairman and CEO, with Ken Thompson retaining his chief executive role and board member Lanty Smith now serving as non-executive Chairman, effective immediately

Prosecutors at the U.S. Justice Department are investigating Wachovia Corp, the fourth largest U.S. bank, about links to alleged drug laundering activities involving Latin American countries.

Freddie Mac has agreed to make 90-day commitments to several large banks on the pricing of conforming jumbo loans, according to a report.The government-sponsored home loan lender will offer the d...

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.

Tokyo stocks rebounded Tuesday on buybacks after heavy losses the previous day but gains were limited as investors remain jittery ahead of upcoming earnings reports by major U.S. corporations and financial institutions.

U.S. Bancorp, the sixth-largest U.S. bank, said on Tuesday first-quarter profit fell about 3.5 percent, on higher provision for credit losses, but managed to beat earnings estimates by a penny.

Wachovia Corp. investors were hit with a double-whammy on Monday, after the fourth largest U.S. bank reported an unexpected loss for the quarter, cut their dividends, and announced a plan to sell diluted stock.

U.S. Treasurys fell in price on Monday after more news of banks in crisis were offset by a government report showing slightly higher retail sales in March.

Wachovia Corp., the fourth largest U.S. bank, reported a first quarter loss on Monday and said it would strengthen its balance sheet by cutting the shareholder dividend and raising $7 billion in capital.

U.S. stocks fell on Monday for a second day after Wachovia Corp. reported an unexpected first quarter loss, adding to investors tension about earning reports after bellwether General Electric Corp. disappointed last week with its earnings loss.

U.S. stocks gained for a third day Wednesday as investors' mood brighten after Best Buy Co released earning results, and Federal Reserve Chairman Ben Bernanke said the central bank will not need to save another financial firm.

U.S. stocks rose on Wednesday, after JPMorgan Chase & Co. and Wells Fargo & Co. reported quarterly results not worse than expectations, giving some hope that the battered financial sector may be able to cut some of its losses.

U.S. stocks rose for a second day on Thursday after Federal Reserve Chairman Ben Bernanke pledged to further cut interest rates and on news that Bank of America is reported to buy struggling mortgage lender Countrywide Financial Corp.

Wells Fargo & Co Chairman Dick Kovacevich is not against the No. 5 U.S. bank making a major acquisition, but he said on Tuesday the prospect of that happening is unlikely even as large rivals become vulnerable due to shaky subprime lending.

Dell, the world’s second-largest personal-computer maker, decreased $3.80 to $24.33, being viewed as the biggest drag on the S&P 500.

Stocks rallied on Wednesday as financial shares extended their comeback for a second day, helped by remarks by a Federal Reserve official that raised hopes of an interest rate cut. Financials were leading the Dow and S&P following Fed Vice Chairman Donald Kohn's comments. The group has struggled under tight credit conditions.