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Auto sales seen dipping in October

U.S. auto sales are expected to have dipped slightly in October, as stepped-up incentive spending by automakers could not totally offset the drag from continued turmoil in the U.S. housing market, analysts said.

Merrill investors sue over subprime

An investor lawsuit has been filed against Merrill Lynch & Co Inc, contending that the company issued false and misleading statements about its exposure to risky mortgage investments, the plaintiffs' lawyers said on Tuesday.

Merrill Lynch ousts CEO O'Neal

Merrill Lynch & Co Inc ousted Chairman and Chief Executive Stan O'Neal on Tuesday, just days after reporting the biggest quarterly loss in the company's history, making him the highest-ranking casualty in the U.S. subprime mortgage crisis. Board member Alberto Cribiore will be interim chairman while day-to-day operations will be overseen by the firm's co-presidents, Ahmass Fakahany and Greg Fleming.

Merrill CEO's rise buckled by risky mortgages

The anticipated departure of Merrill Lynch & Co Inc Chief Executive Stan O'Neal would mark a surprising flameout in a career that had been impressive in its ascent.

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Merrill could have Q4 $4.5 bln write-down: Goldman

Merrill Lynch & Co Inc, which stunned Wall Street with $8.4 billion in write-downs in the third quarter, could have to write down another $4.5 billion in the current quarter, a Goldman Sachs analyst's report said on Thursday.

ICBC to buy Standard Bank stake

China's biggest lender ICBC is to buy 20 percent of South Africa's Standard Bank for 36.67 billion rand ($5.6 billion) in cash, in the biggest foreign investment yet in Africa.

Bank of America cuts 3,000 jobs

Bank of America Corp on Wednesday said it planned to eliminate 3,000 jobs, and shook up its corporate and investment bank after a dismal quarter at that unit led to a 32 percent drop in overall profit.The second-largest U.S. bank said a majority of the cuts will be in corporate and investment banking, and the rest elsewhere. The cuts amount to 1.5 percent of the bank's 198,000-person workforce.

Merrill Lynch posts loss on $7.9 bln write-down

Merrill Lynch & Co Inc reported $7.9 billion in net write-downs for the third quarter on Wednesday as shaky risk management and bad bets on subprime mortgages and collateralized debt obligations triggered the company's first quarterly loss in six years. More write-downs could be on their way if the company further cuts its exposure to CDOs.

Nikkei Rises on strong Corporate Gains

Japan's Nikkei 225 average rose 0.7% to 16,563.51, aided by a higher close on Wall Street for the second straight day, while the broader Topix index advanced 1% to 1,585.86.

E*Trade shares plunge a day after 3rd-qtr loss

Shares of E*Trade Financial Corp plunged more than 7 percent on Thursday, a day after the online brokerage posted a third-quarter loss and lowered its full-year forecast for the fourth time this year.

Giant Interactive launches $800 million IPO

Chinese online game developer Giant Interactive Group Inc was set to begin marketing a U.S. initial public offering on Thursday worth roughly $700-$800 million, sources familiar with the deal said, joining a record-breaking capital-raising push by Internet firms.

Intel results boost chip shares; IBM falls

Intel Corp shares rose 4.3 percent on Wednesday as its better-than-expected quarterly report helped boost other microchip shares, even as fellow technology heavyweight International Business Machines Corp posted lower hardware sales.

Alibaba.com plans Hong Kong IPO

China's biggest e-commerce firm, Alibaba.com Ltd, plans to raise as much as US$1.32 billion after setting a price range for its Hong Kong initial public offering, sources familiar with the deal said on Monday.

Nine banks to buy stake in Thomson's TradeWeb

Nine banks have agreed to pay $180 million for a minority stake in Thomson Corp's TradeWeb bond trading platform, and will invest an additional $100 million in a bid to expand the service they sold in 2004.

Infosys profit up 18 pct, shares plunge on outlook

Infosys Technologies Ltd, India's No 2 software services exporter, said quarterly profit rose by nearly a fifth but its shares tumbled 7 percent on market concerns over the rapidly rising rupee and the risk of a U.S. downturn.

Oil Rises on Supply Concerns

Oil prices jumped on Wednesday as expectations for tighter fuel inventories surfaced as the Norther Hemisphere moves into the winter season.

Dow and S&P finish at records after soothing Fed

The Dow and S&P 500 jumped to close at records on Tuesday after minutes from the Federal Reserve's last meeting showed inflation expectations were contained, leaving open the question of whether another rate cut is near.

Wall St inches up on profit hopes

Stocks inched higher on Tuesday as investors bet that quarterly earnings reports, which begin later on Tuesday, would beat estimates and brokerages raised price targets on some of the biggest technology stocks.

JC Flowers, Cerberus eyeing Northern Rock: sources

Northern Rock's advisers are in talks with U.S. buyout firm JC Flowers over a rescue bid for the stricken UK mortgage bank, as U.S. firm Cerberus also considers a move, sources familiar with the matter said.

Banks confined if credit woes persist

Banks will likely be reluctant to make new business loans if tight credit conditions persist, hampering capital spending and the economy in the coming months, according to Goldman Sachs.

Citigroup says quarterly profit to plunge 60 pct

Citigroup, the largest U.S. bank by market value, said on Monday its third-quarter net income will drop 60 percent on losses and writedowns stemming from subprime and leveraged loan woes, fixed income trading, as well as weakness in its consumer business.