Reuters - Wachovia Corp , the
fourth-largest U.S. bank, will stop making mortgage loans
through its branch offices in 19 U.S. states, a published
report said. -- read full article
Fri, 08 Aug 2008 23:48:04 GMT - Yahoo! News: Business
Reuters - Google Inc and Yahoo Inc
released on Friday excerpts of a pact covering their
search advertising partnership that keeps secret financial
terms and the extent of other ties between the two.
Reuters - Bank of America Corp , the
largest U.S. retail bank, said on Thursday it received
subpoenas and requests for information relating to auction-rate
securities from federal and state government agencies.
Reuters - Swiss bank UBS AG has agreed
to buy back $19.4 billion of debt securities whose value
collapsed during the global financial crisis and to pay $150
million in fines to settle charges it misled investors,
Massachusetts' top securities regulator said on Friday,
Reuters - Stocks jumped on Friday as the U.S.
dollar's rally helped push oil prices down to nearly $116 a
barrel, reducing inflation fears and improving prospects for
stronger business and consumer spending.
Reuters - Charges by Massachusetts against Merrill
Lynch & Co Inc are more serious than those against
Swiss bank UBS because they involved the manipulation
of research of auction-rate securities, the state's top
securities regulator said on Friday. -- read full article
Fri, 08 Aug 2008 18:07:10 GMT - Yahoo! News: Business
Reuters - Fannie Mae on Friday posted a
much larger-than-expected second-quarter loss and slashed its
dividend more than 85 percent to preserve capital as home loan
defaults accelerated in the bleakest U.S. housing market since
the Great Depression.
AP - Treasury bond prices rebounded Thursday as investors sought safe-haven investments after a surprise jump in weekly unemployment claims and disappointing sales reports from retailers. -- read full article
Thu, 07 Aug 2008 22:04:40 GMT - Yahoo! News: Business
Reuters - U.S. consumer credit expanded at the
fastest rate in seven months in June as Americans turned to
credit cards and consumer loans to maintain spending in the
face of rising food and energy costs, a government report on
Thursday showed.
Reuters - Citigroup and Merrill Lynch
said they would buy back billions of dollars of
illiquid auction-rate securities from retail clients, and
Citigroup agreed to pay a $100 million fine to settle charges
it fraudulently misled investors about the debt's risk.
Reuters - UBS AG , Switzerland's biggest bank,
may pay more than Citigroup Inc or Merrill Lynch & Co
to settle state and federal claims that it fraudulently
sold auction-rate securities, Bloomberg reported, citing a
person who briefed on the negotiations.
Reuters - General Motors Corp said on
Thursday it expects to spend $900 million over the next few
years to adjust its manufacturing capacity, including closing
plants and reducing output.
Reuters - Google Inc's 5 percent
stake in Time Warner Inc's AOL unit may be worth less
than the $1 billion the Web company paid for it in 2006, Google
warned in a regulatory filing on Thursday.