China’s CITIC Securities To Walk Out On Bear Stearns (BSC)
In a previously announced deal China’s CITIC said it planned to invest $1 billion in Bear Stearns (NYSE: BSC). It has had a day to think that over after Bear nearly went under and…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 293UBS (UBS) Faces Suit Over Auction-Rate Markets
In the first of what is likely to be an avalanche of suits over the collapse of the auction-rate market, UBS (NYSE: UBS) has been sued for misleading investors. According to The Wall Street…
NYSE Going Further Into Futures & Derivatives (NYX, CME)
NYSE Euronext (NYSE: NYX) and CME Group, Inc. (NYSE: CME) announced late today that NYSE would purchase CME Group’s Metals Complex. NYSE noted that trading of full and e-mini contracts in gold and silver…
Moody’s Downgrade of WaMu Implies Junk Rating Near (WM)
This is just not a good day for financial stocks. Washington Mutual Inc. (NYSE: WM) is feeling some additional pain, and it isn’t because of having ties to any government bailout package. Moody’s came…
Bear Stearns To Address Current Situation (BSC, JPM)
The Bear Stearns Companies Inc. (NYSE: BSC) announced that will host a conference call today at 12:30 P.M. EST. The stock is now down more than $23.00 to under $34.00 and shares actually traded…
JP Morgan & NY Fed Try to Rescue Bear Stearns (BSC, JPM)
Bear Stearns Co. (NYSE: BSC) is getting a temporary reprieve this morning. JPMorgan Chase (NYSE: JPM) and the New York Fed have provided liquidity financing for 28 days to the struggling brokerage firm. This…
SEC’s “Flex” Accounting Plan For Banks (AIG)(JPM)(C)
AIG (NYSE: AIG) is asking regulators to change the way that assets are marked to market at financial companies. This system has caused tens of billions of dollars to be written off by banks,…
Michael Jackson’s Neverland, Saved By Fortress? (FIG, BAC, SNE)
Private equity firms and hedge funds often make what seem to rather odd investments. But the one thing you can count on is that they both want to make money, even if it is…
Schwab Kicks Up Buybacks (SCHW)
The Charles Schwab Corporation (NASDAQ: SCHW) has authorized share repurchases of up to an additional $500 million of its common stock through open market or via privately negotiated transactions. Schwab notes that as of…
S&P Thinks Subprime Writedowns End In Sight, Well Sort Of
S&P has issued a report today noting that the subprime writedowns could reach $285 Billion, which is higher than the $265 Billion it noted before. But there is a silver lining to the report…
Carlyle Falls Apart
Carlyle Capital, part of private equity firm Carlyle Group, cannot reach a deal with its lenders to stay open. It now appears almost certain that those lenders will seize the fund’s assets and sell…
NASDAQ Furthers Options Interest (NDAQ, NYX)
The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) has received approval from the SEC that will allow the exchange to launch its equity and index options market. The new exchange will be called the NASDAQ…
Fed Adds Another $100B, Will Take ‘Other’ Mortgages In Rescue Package (GS, C, BAC, MER, MS, WB)
The Federal Reserve has just made an expansion of its securities lending program to add much more liquidity to the banking system, but the difference here is that this goes above and beyond the…
Market So Bad, Even Ex-Spitzer Target Stocks Close Much Lower (NYSE, AIG, JNS, MMC, MER)
By now you have heard news of New York Governor Eliot Spitzer’s involvement in a prostitution ring. So much for crime and ethics fighters being immune from temptation. But what we wanted to see…
Citigroup, Now A Teenager (C)
Shares of Citigroup (NYSE: C) have done what some would have thought impossible. Last year that $40.00 floor was the imaginary hurdle, then $30.00 became the last hurdle. But today the stock managed to…