U.S. stocks fell in choppy trade and the Nasdaq slid to a fresh 6 and 1/2-year low on Monday as shares of the biggest drugmakers fell after Merck's proposed a $41 billion takeover of Schering-Plough .
Wells Fargo & Co shares as much as 24.3 percent after the billionaire investor Warren Buffett said the fourth-largest U.S. bank will emerge better than ever from the nation's credit crisis.
Wells Fargo & Co shares as much as 24.3 percent after the billionaire investor Warren Buffett said the fourth-largest U.S. bank will emerge better than ever from the nation's credit crisis.
The Dow industrials and the S&P rose modestly while the Nasdaq dipped in choppy trade on Monday as gains by the energy and banking sectors were offset by a drop in pharmaceuticals after Merck's proposed $41 billion takeover of Schering-Plough .
The Dow industrials and the S&P rose modestly while the Nasdaq dipped in choppy trade on Monday as gains by the energy and banking sectors were offset by a drop in pharmaceuticals after Merck's proposed $41 billion takeover of Schering-Plough .
Stocks were set to hit fresh 12-year lows at Monday's open as a lack of confidence in steps to shore up ailing banks persisted, offsetting Merck's proposed $41 billion takeover of Schering-Plough .
HSBC shares hit a 13-year low on Monday, plummeting more than 13 percent as large investors shorted the stock on hopes that the price would slide further after the rights issue.
With stocks mired in multi-year lows and the fate of General Motors and banks hanging in the balance, investors are unlikely to curb their flight from risk this week, putting Wall Street on track for another brutal sell-off.
Merrill Lynch & Co. have suspended a trader who had $400 million in undisclosed losses in the last few months, according to a report.
New York’s top legal officer complained to the state’s top court on Friday that Bank of America is continuing to block his probe in to bonus compensation at the bank’s newly acquired Merrill Lynch division.
A leading insurance company Clico of Guyana insists on $35M investment in Clico Bahamas, in a now-defunct subsidiary, is trying to recover money for investors.
The Belgian state and France's BNP Paribas have reached a deal Saturday to sell financial group Fortis, the largest bank in Belgium and the Netherlands until the global financial crisis, according to the associated press reports.
Switzerland rejects U.S. demands that the country's largest bank UBS should hand over the data of 52,000 U.S. clients, Swiss newspaper Berner Zeitung quoted the Swiss justice minister as saying on Saturday.
On March 6, South Africa's Standard Bank, the largest African banking group, announced it will buy a 33% stake of Russian investment bank Troika Dialog.
Merrill Lynch said on Friday it had discovered an irregularity in its London trading positions and the Financial Times reported that a Merrill trader had been suspended over a suspected $400 million loss.
With stocks mired in multi-year lows and the fate of General Motors and banks hanging in the balance, investors are unlikely to curb their flight from risk next week, putting Wall Street on track for another brutal sell-off.
Stocks fell to further 12-year lows on Friday as a bearish brokerage view on Apple Inc prompted a sell-off in technology shares and overhanging fears about the banking system's future weighed.
Stocks fell on Friday as a bearish brokerage view on Apple Inc ignited a sell-off in shares of big-cap tech companies, while fears over the fate of the banking system persisted.
Wells Fargo & Co slashed its dividend 85 percent on Friday, a widely expected move that the fourth-largest U.S. bank said will save $5 billion a year.
On March 5, America saw its stocks plummet to their lowest levels in more than 12 years as one of the world's most well known banks, and an icon of American manufacturing traded like money on monopoly board game.
Merrill Lynch & Co has reported an “irregularity” in its trading operations just hours after a news report said British investigators were probing losses incurred by a currency trader in the firm's London operations.
General Electric Co shares rose 5 percent on Friday after analysts at Merrill Lynch and BernsteinResearch said they did not see the U.S. conglomerate sharply marking down assets in its hefty finance arm in the near future.
