(Repeats column initially transmitted late Thursday)
By Jennifer Ablan
NEW YORK, March 21 (Reuters) - Bolstered by the Federal
Reserve’s aggressive liquidity action, U.S. stocks could
extend their solid rally next week even in the face of still
weak consumer and housing-related data.
Thursday, the Dow Jones industrial average .DJI soared
261.66 points, or [...]
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 [...]
(Recasts with company confirmation)
By David Dolan
TOKYO, March 21 (Reuters) - Mizuho Financial Group Inc
(8411.T: Quote, Profile, Research), Japan’s second-largest bank, said it would further
delay the merger of two affiliate brokerages until next year due
to ballooning subprime losses at unit Mizuho Securities.
Subprime losses have so far waylaid Mizuho’s [...]
By Steve Slater and Christina Fincher
LONDON (Reuters) - Britain’s top bankers urged the Bank of
England (BoE) to be more generous and flexible to ease tensions
in fragile money markets at a meeting on Thursday.
The central bank pumped an extra 5 billion pounds ($10
billion) into money markets on Thursday, but [...]
(Recasts with company confirmation)
By David Dolan
TOKYO, March 21 (Reuters) - Mizuho Financial Group Inc
(8411.T: Quote, Profile, Research), Japan’s second-largest bank, said it would further
delay the merger of two affiliate brokerages until next year due
to ballooning subprime losses at unit Mizuho Securities.
Subprime losses have so far waylaid Mizuho’s [...]
By Thomas Atkins
ZURICH (Reuters) - Credit Suisse (CSGN.VX: Quote, Profile, Research) warned on
Thursday it could report its first quarterly loss in five
years, further eroding the bank’s credibility with investors
still shaken by February’s $2.85 billion trading scandal.
The bank’s shares dropped more than 11 percent after it
said unprecedented market conditions [...]
NEW YORK (Reuters) - U.S. investment banks Goldman Sachs
Group Inc (GS.N: Quote, Profile, Research), Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research) and
Morgan Stanley (MS.N: Quote, Profile, Research) are testing a new program that allows
investment banks to borrow directly from the Federal Reserve,
according to people at the banks.
In a [...]
By Jonathan Stempel and Dan Wilchins
NEW YORK (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research) is cutting about 2,000 more investment banking and trading jobs, a person briefed on the matter said, as the largest U.S. bank moves to lower costs after subprime mortgage and credit problems led to a record [...]
(Adds Citigroup, Merchants Bancshares, ValueRich, Associated
Banc-Corp, Nova Biosource Fuels, Amerinet, Omnihome, Ameriana,
Council of Federated Home Loan Banks, Integral Systems,
TIAA-CREFF)
NEW YORK, March 20 (Reuters) - The following financial
services industry appointments were announced on Thursday. To
inform us of other job changes, please e-mail
moves@reuters.com.
CITIGROUP (C.N: Quote, Profile, Research)
Citigroup named John [...]
By Jennifer Ablan - Analysis
NEW YORK (Reuters) - Less than a week ago, it seemed like the sky was falling on Wall Street when the spectacular unraveling of investment bank Bear Stearns (BSC.N: Quote, Profile, Research) sent financial markets, in the United States and elsewhere, into panic mode.
Then the Federal Reserve [...]
