Posted by admin on July 18th, 2008
NEW YORK (AP) - Moody’s Investors Service downgraded the senior long-term debt of Merrill Lynch & Co. to “A2″ from “A1″ Thursday to after the world’s largest brokerage posted a $4.9 billion second-quarter loss, hurt by massive write-downs from mortgage-backed securities and other risky investments.
The ratings agency said the company’s financial flexibility is more limited [...]
Posted by admin on June 5th, 2008
The rulers of the exchange of mankind’s goods have failed,” U.S. President Franklin D. Roosevelt told a Depression-blighted nation in his 1933 inauguration address. “There must be an end to a conduct in banking and in business which too often has given to a sacred trust the likeness of callous and selfish wrongdoing.”
Fast-forward three-quarters of [...]
Posted by admin on June 5th, 2008
Lehman shares fell another 3.6 percent before the bell on Wednesday in electronic trading ahead of the New York Stock Exchange open. Over the past three days, the stock has tumbled 18 percent, chopping nearly $4 billion of market value from the company.
According to the newspaper, options for Lehman in Korea include the state-run Korea [...]
Posted by admin on June 5th, 2008
Chennai, June 3 International rating agency, Standard & Poor’s (S & P) has lowered its ratings on a number of top investment banking companies in the United States. S & P has downgraded Lehman Brothers Inc., Merrill Lynch & Co. Inc., and Morgan Stanley.
According to a press release issued by S & P, it has [...]
Posted by admin on April 22nd, 2008
The Bush administration, pledging a “strong and continued commitment” to safeguarding national security, issued 90 pages of regulations Monday to implement a new law tightening security reviews of foreign investments.
Congress passed the law last year after an uproar in 2006 over a plan by Dubai-owned DP World to manage six of the largest ports in [...]
Posted by admin on April 16th, 2008
BlackRock Inc.’s first-quarter net income rose 24% but failed to meet analysts’ expectations, as investors withdrew money from the firm’s core bond funds to put into lower-fee cash investments.
While the company posted earnings of $1.82 a share, Investment Banking up from $1.48 a share, a year earlier, analysts surveyed by Thomson Financial forecast on average [...]
Posted by admin on March 30th, 2008
As economists and Wall Street types grope for historical perspective — which is another way of saying a road map out of this mess — Americans are nervously wondering about retirement savings, interest rates, jobs that had seemed safe.They are surveying the economic landscape and asking: Just how bad is it?They are peering over the [...]
Posted by admin on March 30th, 2008
NEW YORK (Reuters) - Shares of Merrill Lynch %26amp; Co Inc
(MER.N: Quote, Profile, Research) rose nearly 6 percent on Thursday morning amid rumors
the largest brokerage in the world was looking to sell off
assets.
Selling assets could shore up Merrill Lynch’s balance
sheet, which would please investors shaken by a recent run [...]
Posted by admin on March 30th, 2008
(Adds company items, trader quote, updates table)
FRANKFURT, March 20 (Reuters) - European shares were expected to fall on
Thursday, tracking U.S. stock markets, with financial sector woes firmly in the
spotlight after a profit warning from Credit Suisse (CSGN.VX: Quote, Profile, Research) and a bearish
outlook from insurer Allianz (ALVG.DE: Quote, Profile, [...]
Posted by admin on March 30th, 2008
By Joseph A. Giannone
NEW YORK (Reuters) - Morgan Stanley (MS.N: Quote, Profile, Research) said its
quarterly earnings plunged after it absorbed $2.3 billion of
write-downs, but robust trading results helped the No. 2 U.S.
investment bank trounce expectations by a wide margin.
Morgan overall had the best quarter among the big Wall
Street [...]
