The total jobs Morgan Stanley cut this week could get close to 2,000 jobs. A report said Morgan cut 1,500 jobs this week, but few affected employees have not been notified yet, media reports said on Friday.
Financial stocks fell on Friday on slipping consumer sentiment, led by losses at large regional banks Keycorp and Regions which were hurt by downgrades.
Investment bank Lehman Brothers Holdings Inc. will begin to cut jobs on May 19 and plans to shed 5 percent of its workforce, according to media reports.
Gold futures closed near $900 an ounce on Friday in New York, making it the highest gain for the contract in 10 weeks as energy costs surged to a record and the dollar weakened, boosting the appeal of the precious metal as a hedge against inflation.
The finance arm of Ford Motor Co. plans to sell $5.3 billion of car-loan bonds as investor demand increases for asset-backed securities, according Bloomberg.
As China statistics bureau said Thursday, China's fixed-asset investment jumped 25.7 percent in the first four months of this year, underscoring concerns that the economy may be overheating.
Blackstone Group, the private equity firm which went public last year, reported a first-quarter loss on Thursday.
General Electric Co. is considering selling or divesting itself of its appliances business, the Wall Street Journal said on its website late Wednesday.
UBS on Wednesday announced management changes within its investment bank unit and also altered the organization of its risk control operations.
Clear Channel Communications Inc. and the banks that agreed to finance its highly leveraged buy-out were able to enter into a settlement agreement ending lawsuit proceedings previously filed in New York State Supreme Court and Bexar County District Court.
Natus Medical Inc. developer and manufacturer of medical devices fore newborns said Tuesday it is planning to make a public offering of 3.5 million common shares.
Technology stocks rose slightly on Tuesday on as Hewlett-Packard shares sank after announcing it would acquire EDS and a report that activist investor Car Icahn is mulling a proxy fight for making changes to the board of directors at Yahoo.
Investors looking to buy Clear Channel Communications will get the financing they need after reaching a settlement with their bankers today to avoid a trial, according to CNBC.Shares of Clear Channel rose $1.55, or 4.72 percent to $34.42.
Gold fell the most in two weeks on Tuesday as the U.S. dollar rebounded against the euro, hindering the investment demand for the precious metal.
California and Florida are driving losses in Bank of America's global-consumer and small business banking segment, said the president of the unit on Tuesday.
Shares of Clear Channel Communications Inc. surged as much as 18 percent on media reports of settlement talks with six banks on a proposal to finance the radio and media company's buyout by Thomas H. Lee Partners and Bain Capital.
Valero Energy Corp., the biggest U.S. refiner, fell on Friday after Goldman Sachs analysts took the company of their conviction buy list.
Clear Channel Communications Inc. on Friday released earnings for the media and entertainment company's first quarter and declined to provide an outlook due to the pending buyout deal.
Gold futures gained on Friday to close at their highest level since late April and sealed a weekly gain after crude oil surged to a record price above $126 a barrel and weakness in the U.S. dollar.
U.S. stocks fell on Friday, pushing the market to its first weekly drop in a month, as oil soared past $126 a barrel and metal producers retreated on concern the surge in commodity prices will end.
Billionaire investor Kirk Kerkorian offered to buy 20 million of Ford Motor Company's shares, according to a securities filing.
Citigroup expects to reduce about $400 billion in non-core assets over the next three years, as the largest U.S. bank seeks to boost efficiency and regain profitability.
