UBS (UBS): Another Huge Write-Down?
UBS (NYSE: UBS) may have sold a huge portion of its high-risk mortgages at an extremely large write-down. And, that may show up in it Q1 results, driving a big loss. According to Reuters…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 295A Dent In The Resolve At Sovereign Funds
The Treasury and Congress are still trying to get sovereign funds to agree that their investments in US companies are "financial" and not "political". According to MarketWatch Treasury Undersecretary for International Affairs David McCormick…
Auction-Rate Failures Rise
While the debate continues over whether banks and brokerage houses had any obligation to keep the auction-rate market open, almost 70% of the auctions failed this week. According to Bloomberg yield on the muni-bond…
Big Banks: What To Do When The Money Runs Out
Ill-timed remarks by Sameer Al Ansari, chief executive of Dubai International Capital hurt Citigroup’s (C) shares yesterday. The man said that Citi would need more capital and that it might not be available from…
E*Trade (ETFC): The Prince Becomes A Frog
E*Trade (ETFC) investors cheered when they heard that the company’s chairman, a former senior executive at JP Morgan (JPM) was taking over as CEO. The reality of the situation did not take long to…
Citigroup (C) Hits Multi-Year Lows
Share of Citigroup (NYSE:C) dropped as low as $22.09 this morning, their lowest level in over eight years. The head of Dubai International Capital said that Citi would need to raise more money. CNBC…
Citigroup (C) Will Need A Lot More Money
The biggest question running around Wall St. is how much more cash is going to have to go into the sink hole of banks, brokerages, and insurance companies. The estimates for further subprime write-downs…
SPAC IPO FILING: Sidhu Special Purpose Capital Corp. (SOV)
After today’s close, we have yet another special purpose acquisition company, or SPAC, that has filed to come public. Sidhu Special Purpose Capital Corp. filed for an initial public offering for $150 million in…
SPAC IPO FILING: Transformation Capital… Public Hedge Fund? (TCY, TCY.U, AINV)
Transformation Capital is another special purpose acquisition company or SPAC that has filed to come public via an initial public offering. The company has many options like all SPAC filings indicate, although it intends…
Fannie Mae Dodges Appraisal Bullett (FNM)
Fannie Mae (NYSE: FNM) has announced a settlement that ultimately looks like will give the company a huge sigh of relief. It has entered into an agreement with the New York Attorney General and…
Safeguard Scores $100 Million Sale (SFE)
Safeguard Scientifics, Inc. (NYSE: SFE) has signed and exit agreement regarding its ownership position in three majority-held and three minority-held partner companies through a transaction with Saints Capital. The partner companies being sold in…
Goldman Sachs Notes An Insurer Worth Zero In Run-Off (SCA, MBI, ABK)
Security Capital Assurance Ltd. (NYSE: SCA) has been terminated from coverage at bulge bracket firm Goldman Sachs after the company has seen shares plummet over recent months. The company noted that all three ratings…
HSBC (HBC) Has $17 Billion Impairment Charge
HSBC (HBC) announced that its net profit for 2007 rose 21% to $19.13 billion even after profits in North America were virtually wiped out by rising bad debt charges. According to MarketWatch "In the…
What If E*Trade (ETFC) Is Worth Zero?
E*Trade (NASDAQ: ETFC) is making its non-executive chairman Donald Layton CEO today. The move is puzzling since he is a former vice chairman of JP Morgan (NYSE: JPM). He was "installed" in his chairman’s…
Where Does Private Equity Invest Next? (C)(MER)(BX)(S)(MOT)
The business press has had its ear to the rail, and it has heard that more capital is headed toward private equity funds. Some of this money may be invested by the huge sovereign…