U.S. private equity fund Lone Star confirmed on Tuesday it was in exclusive negotiations with HSBC to sell its 51 percent stake in Korea Exchange Bank, with a market value of $4.8 billion.
Decades pass but the story remains the same -- financial markets lurch from boom to bust, central banks rush in to avert disaster and their rescue operation sets the scene for yet another boom-bust sequel.
China raised interest rates on Tuesday for the fourth time this year, aiming to counter expectations of accelerating inflation after consumer prices rose in July at the fastest pace in more than a decade.
The U.S. space shuttle Endeavour returned to its Florida home port on Tuesday, touching down safely at the Kennedy Space Center following a hectic but successful 13-day mission to the International Space Station.
Adams Respiratory Therapeutics Inc posted a quarterly loss, forecast its outlook for the year below Wall Street expectation and indicated that its key drug may face competition from a generic version.
Stock markets may have fallen sharply from their recent highs over the past weeks, but there is a wall of money sitting out there that could turn it all into a far greater rout.
The Disney made-for-TV movie was the most watched U.S. TV telecast ever for the 6 to 11 age group.
U.S. stocks rose to session highs on Tuesday after a U.S. lawmaker said the Federal Reserve chairman pledged to use all available tools to calm financial markets, increasing speculation about a rate cut. U.S. crude oil futures fell below $70 a barrel, pushing up airline stocks like the parent of American Airlines, AMR Corp., up nearly 7 percent at $23.73. It was the first time oil has fallen below $70 since July 2.
Oil tumbled nearly $2 a barrel below $70 on Tuesday as Hurricane Dean lost strength, easing concerns of supply disruptions from Mexico and the U.S. Gulf where oil installations were threatened by the powerful storm.
Gold slipped with stock markets and other commodities on Tuesday as fears about the effect of a global credit squeezed lingered, analysts said.
U.S. Treasury Secretary Henry Paulson said on Tuesday he was talking with housing finance giants Fannie Mae and Freddie Mac about policy options to ease strains in mortgage markets, including possible legislation that could expand their mortgage investment options.
The yen gained broadly in volatile trading on Tuesday as persistent jitters about global credit conditions prodded investors to sell more risky assets funded by borrowing at low rates in the Japanese currency.
Senate Finance Committee Chairman Christopher Dodd on Tuesday said he asked the Bush administration to lift the portfolio caps on housing finance giants Fannie Mae and Freddie Mac, but Treasury Secretary Henry Paulson expressed reluctance to do so.
Marsh Inc. the world's largest insurance broker and risk adviser, on Monday warned financial institutions they may face more claims as a result of the subprime mortgage crisis.
The U.S. Securities and Exchange Commission filed civil fraud charges on Monday against Sentinel Management Group Inc, the cash management firm serving the U.S. futures industry that filed for Chapter 11 bankruptcy protection late on Friday.
Target Corp on Tuesday said its quarterly profit rose more than 12 percent, boosted by strong sales at stores open at least a year and returns from its credit-card business. The retailer also reiterated its full-year earnings outlook.
Treasury Secretary Henry Paulson said on Tuesday the global economy is strong and liquidity will return to normal in financial markets once investors reprice risk.
Shareholders in OMX are weighing a $4 billion bid by Borse Dubai for the firm and waiting to see whether U.S. rival Nasdaq sweetens its $3.7 billion offer, Borse Dubai's head said on Tuesday.
Capital One Financial Corp on Monday said it will eliminate 1,900 jobs and shut down a wholesale mortgage unit it acquired less than a year ago, as it struggles with the U.S. housing downturn.
Viacom Inc's MTV Networks is expected to on Tuesday announce plans to merge its online digital music offerings into a joint venture with music software company RealNetworks Inc, the Wall Street Journal reported.
Countrywide Financial Corp, the largest U.S. mortgage lender, said it had eliminated about 500 jobs nationwide as it tries to cope with a credit shortfall stemming from the U.S. housing downturn.
Billionaire investor Warren Buffett may buy parts of beleaguered mortgage lender Countrywide Financial Corp, some investors are speculating, according to The Wall Street Journal.
