Reuters - Congressional leaders locked themselves behind closed doors on Saturday with an urgent mission to reach a deal on a proposed $700 billion bailout of the financial industry amid the worst financial crisis since the Great Depression.
Reuters - Regulators and politicians were locked in talks over the future of troubled lender Bradford & Bingley on Saturday, raising the prospect that a second British bank could be nationalized.
Reuters - Financial authorities are holding discussions over the future of Fortis this weekend, while the troubled Belgian-Dutch financial group is seeking to close key divestments deals.
Reuters - The U.S. Congress raced to strike a deal on a proposed $700 billion bailout of the financial industry in an intense weekend negotiating session aimed at alleviating the worst financial crisis since the Great Depression.
AFP - Global markets saw more tension Friday as the White House and Congress wrangled over a proposed bailout of the ailing financial sector, but Wall Street shares managed to finish mainly higher.
Reuters - Swiss bank Credit Suisse plans to hire another 1,000 relationship managers or more globally over the next three years to boost its wealth management business, an executive said in a newspaper report on Saturday. -- read full article
Sat, 27 Sep 2008 04:39:59 GMT - Yahoo! News: Business
Reuters - JPMorgan Chase & Co capped off its purchase of Washington Mutual Inc on Friday by selling $10 billion of stock, more than it expected, while analysts warned the company faces a third-quarter loss.
Reuters - Stocks ended mostly higher on Friday as big bank shares staged a late rally on hopes lawmakers would hammer out an agreement on a $700 billion financial-sector rescue plan this weekend.
Reuters - As depositors lost confidence in Washington Mutual Inc , and began emptying their accounts, regulators abandoned hopes of saving the largest U.S. savings bank and conducted a secret auction.
Reuters - Wachovia Corp has begun early merger talks with several suitors, according to published reports, all of which spurned Washington Mutual Inc prior to that lender's seizure by the U.S. government.
Investor's Business Daily - The 30-year fixed-rate mortgage jumped 21 basis points to 6.09% this week, said mortgage giant Freddie Mac. Freddie said home-loan rates followed Treasury yields higher. The 15-year rate surged 42 basis points to 5.77%. The 1-year adjustable rate climbed 13 ticks to 4.16%. -- read full article
Thu, 25 Sep 2008 22:55:28 GMT - Yahoo! News: Business
Reuters - U.S. consumer confidence rose to a seven-month high in September but not as much as previously thought as worries over the growing financial crisis clouded the outlook, a survey showed on Friday. The Reuters/University of Michigan Surveys of Consumers said the final reading of its index of confidence rose to 70.3 in September from 63.0 in August. It was the highest final reading since 70.8 in February. -- read full article
Fri, 26 Sep 2008 18:44:32 GMT - Yahoo! News: Business
Reuters - New York Attorney General Andrew Cuomo, who last week began investigating short-selling abuses in the stock market, is now taking a hard look at whether credit-default swaps are being used to push down share prices, a person familiar with the probe told Reuters Friday. -- read full article
Fri, 26 Sep 2008 17:30:26 GMT - Yahoo! News: Business
Reuters - The U.S. Securities and Exchange Commission is ending its program to supervise large independent investment banks now that the five participants have collapsed or reorganized. -- read full article
Fri, 26 Sep 2008 16:26:54 GMT - Yahoo! News: Business
Reuters - Stocks fell on Friday as nervousness abounded about when Congress would pass a $700 billion financial sector rescue and Washington Mutual became the largest U.S. bank failure in history.
