Citigroup’s (C) CFO says he see write-downs through the end of the year. The head of hedge fund Paulson & Co,says bank losses will hit $1.3 trillion. Write-downs at Lehman (LEH) and…
According to Reuters, the fuel price increase in China may bolster consumption. Reuters writes that the Fed’s policy on inflation is starting to hurt the housing market. Reuters writes that the Bank…
Citigroup (C) came clean about what everyone with any sense already expected. Write-offs at the money center bank are not over. According to The Wall Street Journal, the "bank will see a…
Wall St. almost always takes the public proclamations of hedge funds and short sellers with a grain of salt. But, some of the recent negative comments about Lehman Bros. may well have…
With the trading year almost half over and results from the first quarter out, 24/7 Wall St. has created the latest installment of its Ten Worst Managed Companies In America list. This…
Martin Sullivan, the CEO of AIG (AIG), was sent to the guillotine yesterday. The beheading of financial company chiefs is now so commonplace that crowds don’t even gather anymore to witness the…
Big losses and having to raise $20 billion has been too much for AIG’s (AIG) largest investors. They are expected to get their way today. The AIG board will jettison CEO Martin…
Dick Fuld, CEO of Lehman (LEH), may lose his jobs soon. Someone has to step in if the brokerage’s stock keeps falling. The company board knows that. Lehman’s COO and CFO has…
A large number of the banks and brokerages in the US and EU have turned to sovereign funds in Asia and the Middle East to replenish their reserves after taking huge losses…
Some of AIG’s (AIG) big investors wanted to throw out management. But, that was not enough for them. With the smell of blood in their nostrils they have decided that the board…
One of the hedge funds that Citigroup (C) bought from its CEO Vikram Pandit’s money management company, an operation called Old Lane, has gone belly-up. Pandit got $165 million from the deal…
Douglas A. McIntyre According to Reuters, InBev made $46.3 billion offer for Anheuser-Busch (BUD). Reuters reports that AIG (AIG) shareholders are demanding board changes. Reuters writes that the GM (GM) Europe sales chief sees a…
From the viewpoint of pessimists, it was just a matter of time. The run-up in financial shares which began in mid-March would be tomahawked by a flailing economy and the leprosy of…
According to Reuters, volume sales are now the key to success for Apple’s (AAPL) new iPhone. Reuters reports that the head of Merrill Lynch (MER) supports ongoing regulatory access to data from…
UBS (UBS) may lose money every quarter from now until the end of time. As the Swiss bank raises $16 billion, it has acknowledged that past deficits may not be the last…