BNET News Articles

AIG Had Early Warnings on Risk: Lawmaker

BT Trax — Oct 07, 2008 8:16 AM PDT

By Kim Dixon and Rachelle Younglai

Greenberg Blames AIG Woes on Shorts, Accounting

BT Trax — Oct 07, 2008 8:01 AM PDT

WASHINGTON (Reuters) - A former chief executive of American International Group Inc defended the insurer's risk management but said looser accounting and curbs to market short-selling could have saved it.

UK Banks in Government Funding Talks as Crisis Grips

BT Trax — Oct 07, 2008 8:18 AM PDT

By Myles Neligan

BofA Shares Drop Close to 10 Percent on Capital Raise

BT Trax — Oct 07, 2008 6:15 AM PDT

NEW YORK (Reuters) - Shares of Bank of America Corp fell almost 10 percent on Tuesday, a day after the bank said it would cut its dividend and raise $10 billion to offset rising loan losses.

Fed Creates Commercial Paper-buying Facility

BT Trax — Oct 07, 2008 7:15 AM PDT

By Mark Felsenthal and Glenn Somerville

Bank of America Third Quarter Profit Below View

BT Trax — Oct 07, 2008 6:30 AM PDT

NEW YORK (Reuters) - Bank of America Corp shares fell almost 8 percent on Tuesday, the day after the company said it would cut its dividend and raise $10 billion to offset rising loan losses.

Portuguese Bank Offers "McCain/Obama" Rate Deal

BT Trax — Oct 06, 2008 11:46 AM PDT

LISBON (Reuters) - A Portuguese online bank unveiled a novel interest rate deal Monday by letting clients bet on the outcome of the U.S. presidential election.

Treasury Names Rescue Program Chief

BT Trax — Oct 06, 2008 11:15 AM PDT

WASHINGTON (Reuters) - The Treasury on Monday named Assistant Secretary for International Economics and Development, Neel Kashkari, as head of the $700 billion government program that will buy soured investments to help restore the financial markets to health.

SAP Says Saw Business Drop Off at End of Quarter

BT Trax — Oct 06, 2008 10:16 AM PDT

FRANKFURT (Reuters) - Software group SAP has seen business drop off abruptly, which means third-quarter revenue from software and software-related services was now expected to rise only 13-14 percent, it said on Monday.

SEC, Fed Aware of Everything at Lehman: Fuld

BT Trax — Oct 06, 2008 11:46 AM PDT

By Rachelle Younglai and Kim Dixon

Citi, Wells Fargo Shares Fall on Wachovia Dispute

BT Trax — Oct 06, 2008 11:46 AM PDT

By Dan Wilchins and Karey Wutkowski

Fed to Boost Auctions, Pay Interest on Reserves

BT Trax — Oct 06, 2008 6:46 AM PDT

WASHINGTON (Reuters) - The Federal Reserve on Monday announced a series of steps to funnel massive amounts of liquidity through clogged credit markets, including boosting the sizes of cash auctions and offering banks interest on reserves.

Treasury: Increasing Auction Sizes to Meet Needs

BT Trax — Oct 06, 2008 5:47 AM PDT

WASHINGTON (Reuters) - The Treasury Department on Monday announced it will increase the size of its debt securities auctions to address increased funding needs posed by the $700 billion financial rescue package signed last week.

EBay to Cut 10 Percent of Jobs, Exceed Profit View

BT Trax — Oct 06, 2008 6:45 AM PDT

NEW YORK (Reuters) - EBay Inc plans to cut its work force 10 percent and sees third-quarter revenue hitting the low end of its forecast, though profit will exceed expectations, the online auction Web site said on Monday.

Citi, Wachovia Off on Deal Uncertainty

BT Trax — Oct 06, 2008 5:16 AM PDT

NEW YORK (Reuters) - Shares of Citigroup Inc dropped 6 percent to $17.25 on Monday on uncertainty about plans to take over embattled Wachovia Corp .

BofA in $8.6 Billion Deal Over Countrywide Loans: Report

BT Trax — Oct 06, 2008 10:15 AM PDT

NEW YORK (Reuters) - As part of a settlement with state attorneys general that could be worth as much as $8.6 billion, Bank of America Corp said on Monday it would cut interest rates and principal on some troubled mortgages originated by Countrywide Financial Corp.

ImClone Set to Be Acquired By Eli Lilly For $6.1 Bln: Sources

BT Trax — Oct 06, 2008 11:46 AM PDT

By Toni Clarke and Jessica Hall

AIG to Sell Thai Bank, Consumer Finance Units

BT Trax — Oct 05, 2008 9:45 PM PDT

BANGKOK (Reuters) - American International Group Inc (AIG) is to sell its Thai consumer finance businesses, including AIG Retail Bank and AIG Card, the head of the bank said on Monday.

Paulson to Name Adviser to Oversee U.S. Bailout: Paper

BT Trax — Oct 06, 2008 5:03 AM PDT

PHILADELPHIA (Reuters) - Treasury Secretary Henry Paulson is expected to name Neel Kashkari to oversee the $700 billion program to buy distressed assets from financial institutions, The Wall Street Journal reported on Sunday.

Shanghai Highrises Could Worsen Threat of Rising Seas

BT Trax — Oct 05, 2008 6:30 PM PDT

By Rujun Shen

UniCredit Seeks Funds in About-turn With Investors

BT Trax — Oct 05, 2008 2:45 PM PDT

By Jo Winterbottom

Regulator Says Fannie, Freddie Might Sell Bad Assets

BT Trax — Oct 05, 2008 11:45 AM PDT

By John Poirier

Stocks to Struggle Despite Rescue Plan

BT Trax — Oct 05, 2008 8:15 AM PDT

By Steven C. Johnson

Merkel to Make Statement on Hypo Real: Government Source

BT Trax — Oct 05, 2008 3:30 AM PDT

BERLIN (Reuters) - German Chancellor Angela Merkel will make a statement on the financial crisis and the plight of lender Hypo Real Estate on Sunday afternoon, a government source said.

Singapore GIC's Key Man Sees Opportunities in Gloom

BT Trax — Oct 04, 2008 10:30 PM PDT

By Saeed Azhar and Kevin Lim

Judge Tells Wachovia to Negotiate Only With Citi

BT Trax — Oct 05, 2008 9:30 PM PDT

By Mark Felsenthal and Michael Erman

Judge Order Citi Says Wachovia Must Not Negotiate With Others

BT Trax — Oct 04, 2008 8:30 PM PDT

(Reuters) - Citigroup Inc says it has been granted emergency injunctive relief extending exclusivity agreement

Honeywell Sees '09 Bizjet Sales Up, But Peak Looms

BT Trax — Oct 04, 2008 3:15 PM PDT

By Scott Malone

Hypo Real Fights For Life After Rescue Collapses

BT Trax — Oct 05, 2008 4:30 PM PDT

By Gernot Heller

SocGen Solid, Ready to Look at Acquisitions: CEO

BT Trax — Oct 04, 2008 5:45 AM PDT

PARIS (Reuters) - French bank Societe Generale , hit by a massive rogue trading scandal this year, is solid and is ready to look at acquisitions, chief executive Frederic Oudea told Le Parisien newspaper.

Dutch Media Split Over Fortis Nationalization

BT Trax — Oct 04, 2008 5:00 AM PDT

AMSTERDAM (Reuters) - The government decision to nationalize the Dutch banking and insurance units of Fortis after the financial services group hit an acute cash crunch divided the country's media on Saturday.

Tata Plant Move May Affect India Investments, Growth

BT Trax — Oct 04, 2008 5:00 AM PDT

By Saikat Chatterjee

AIG to Sell Japanese Life Insurance Units

BT Trax — Oct 03, 2008 11:30 PM PDT

TOKYO (Reuters) - American International Group Inc, plans to sell its three Japanese life insurance businesses, an AIG spokesman said on Saturday, in sale Japanese media estimated could top $9.5 billion.

Lehman Creditors Seek to Probe Firm: Report

BT Trax — Oct 03, 2008 6:45 PM PDT

NEW YORK (Reuters) - Unsecured creditors of Lehman Brothers Holdings Inc asked a court overseeing Lehman's bankruptcy proceedings for permission to investigate how the firm ran out of money, The Wall Street Journal reported on its website on Friday.

Lehman's Fuld to Testify at Congressional Hearing

BT Trax — Oct 03, 2008 5:00 PM PDT

By Bill Berkrot

Microsoft Reviews Hiring Plans, But No Job Freeze

BT Trax — Oct 03, 2008 4:30 PM PDT

SEATTLE (Reuters) - Microsoft Corp said on Friday it is reviewing its hiring plans in light of tough economic conditions, but denied reports it had instituted a company-wide hiring freeze.

Anheuser Sees Profit Up, Modelo Seeks Arbitration

BT Trax — Oct 03, 2008 3:45 PM PDT

By Martinne Geller

Google, Yahoo Delay Search Ad Partnership

BT Trax — Oct 03, 2008 4:45 PM PDT

By Diane Bartz

WaMu Bankruptcy Hearing Opens With a $5 Billion Question

BT Trax — Oct 03, 2008 2:45 PM PDT

By Emily Chasan

Pimco's Gross Says He is Raising Cash and Waiting: CNBC

BT Trax — Oct 03, 2008 2:45 PM PDT

NEW YORK (Reuters) - The manager of the world's biggest bond fund said on Friday he is raising cash and waiting for asset prices to become more appealing.

SEC Short-selling Ban to Expire Wednesday Night

BT Trax — Oct 03, 2008 2:45 PM PDT

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission announced on Friday its ban on financial stock short-selling will expire at 11:59 p.m. ET on Wednesday, October 8.

Wells to Buy Wachovia For $15.1 Bln; Citi Deal Off

BT Trax — Oct 03, 2008 3:45 PM PDT

By Dan Wilchins

Citigroup Falls on Wachovia-Wells Fargo Deal

BT Trax — Oct 03, 2008 5:15 AM PDT

NEW YORK (Reuters) - Shares of Citigroup fell 8 percent to $20.69 in pre-market trade after a merger deal was announced between Wachovia Corp and Wells Fargo & Co .

Morgan Stanley May Scale Back Prime-brokerage Operation: Report

BT Trax — Oct 03, 2008 3:31 AM PDT

(Reuters) - Morgan Stanley is looking at scaling back its prime-brokerage operation, selling assets or buying a faltering regional bank, the New York Post said citing sources.

InBev Sees Lower EBITDA, Shares Fall

BT Trax — Oct 03, 2008 3:31 AM PDT

By Antonia van de Velde

Fed's Bullard: Do Not Ignore Peril of Inflation

BT Trax — Oct 02, 2008 7:00 PM PDT

By Alister Bull

Restaurant Companies See Prime Sites Opening Up

BT Trax — Oct 02, 2008 4:15 PM PDT

By Lisa Baertlein

Thain to Head Investment Banking, Wealth at BofA

BT Trax — Oct 02, 2008 3:00 PM PDT

By Elinor Comlay

Nokia Takes on Apple in Music, Touch-screen Phones

BT Trax — Oct 02, 2008 2:45 PM PDT

By Tarmo Virki

Banks Borrow Record From Fed as Last Resort

BT Trax — Oct 02, 2008 2:45 PM PDT

By John Parry