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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: financial sector

financial sector stories: 79 news summaries

41 - 60 of 79 Stories | << Prev 1 2 3 4 Next >>

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MARKETS

 Dow Drops Below 7000 


Mar 2, 09 8:45 AM CST
(Newser) - Stocks sunk below 7000 at the open today, extending a global selloff fueled by trouble in financials. The Dow was off 161 points by mid-morning, while the S&P tumbled 2.5%, the Nasdaq 1.9%. Bad news abounded, with HSBC saying it planned to limit US lending, AIG’s... More »

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stock market • Dow Jones • Nasdaq • financial sector • S&P 500 • banking industry

MARKETS

 Eye on Banks, Stocks Sink Early 

Dow drops 30 points after bell

Feb 25, 09 8:50 AM CST
(Newser) - Stocks sank after the opening bell this morning, with traders’ eyes still on troubled banks, which face regulators’ stress tests starting today, the Wall Street Journal reports. The Dow quickly plunged 30 points; the S&P slipped 0.5% with a 2.2% drop in financials; and the Nasdaq tumbled... More »

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stock market • Dow Jones • Nasdaq • Standard and Poor • banking • financial sector • financial crisis

Analysis

Credit Crunch Pinches Entire Lending System

Undercapitalized banks stand to benefit from $1T infusion

Feb 20, 09 12:35 PM CST
(Newser) - Banks aren’t lending, and to change that the government is propping up not just the banks but also the vast, largely unseen financial system that fuels them, the New York Times reports. Banks rarely keep the loans they make anymore; instead, debt is packaged into securities and sold,... More »

MORE ABOUT:
Federal Reserve • credit market • securities • mortgage backed securities • financial sector • Obama administration • banking industry • Timothy Geithner • TALF

MARKETS

 Dow Drops to 6-Year Low 

Fifth Third Bancorp reports losses

Feb 19, 09 3:22 PM CST
(Newser) - Stocks fell again today, with the Dow sinking to its lowest point in six years, MarketWatch reports. The usual financials led declines, with poor results from Fifth Third Bancorp souring sentiment. The Dow fell 89.68 points to close at 7,465.95. The Nasdaq lost 25.15 points, closing... More »

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Dow Jones • Nasdaq • financial sector • S&P 500 • Fifth Third • Hewlett-Packard

MARKETS

 Dow Up 50 on Stimulus Deal 

Stocks stage mild recovery after yesterday's rout

Feb 11, 09 3:21 PM CST
(Newser) - Stocks posted mild gains today, MarketWatch reports. The indices had fallen to losses but headed up again after Harry Reid announced that the Senate had reached an agreement on the stimulus package. Beleaguered banks Citigroup and Bank of America  were both up 8% after yesterday’s sell-off. The Dow rose... More »

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Harry Reid • Dow Jones • Nasdaq • financial sector • economic stimulus package • S&P 500

MARKETS

 Dow Plunges 382 Points 

Geithner's rescue plan lacks sufficient detail to reassure investors

Feb 10, 09 3:14 PM CST
(Newser) - Stocks plummeted today as investors found Timothy Geithner’s description of the bank rescue plan too broad to spur a revival in financial stocks, MarketWatch reports. Analysts criticized Geithner’s announcement for failing to sufficiently describe the role of private capital in the rescue. Citigroup and Bank of America both... More »

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Dow Jones • Nasdaq • rescue • financial sector • S&P 500 • financial stocks • Timothy Geithner

New Bailout
Plan Hinges on Private Investors

Treasury will set 'floor price' on distressed assets to lure buyers

Feb 9, 09 8:37 AM CST
(Newser) - The Treasury's latest plan to rescue the banking industry relies heavily on private-sector investors, the New York Times reports. The government will guarantee a floor price on the toxic assets weighing down banks’ balance sheets, encouraging hedge funds, private equity groups, and even insurers to buy them. The plan... More »

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foreclosure • Treasury Department • financial sector • collateralized debt obligations • Obama administration • banking industry • Troubled Asset Relief Program • financial crisis • Wall Street bailout • Timothy Geithner • TARP • toxic assets

Analysis

Banks Will Find Ways
Around Obama's Pay Cap


Feb 7, 09 12:57 PM CST
(Newser) - Barack Obama’s attempt to curb executive pay may please the outraged investing public, but banks will find the loopholes—and possibly create even more vexing problems in the future, writes Jason Zweig of the Wall Street Journal. To begin with, the rule won’t dent the pay... More »

MORE ABOUT:
Barack Obama • Wall Street • executive compensation • financial sector

I'd Rather Say I'm in Porn: Shunned Wall Streeter

Financial types feel they're unfairly 'vilified' in crisis

Feb 3, 09 9:31 AM CST
(Newser) - Working on Wall Street used to have glamor to it—but now, saying you work at JPMorgan or Goldman Sachs immediately establishes you as “one of them,” the New York Times reports. Wall Streeters are facing a new pariah status, and many believe they’re taking an unfair... More »

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Wall Street • Goldman Sachs • bank • anger • financial sector • financial institutions • bankers • JPMorgan Chase • society • financial crisis • blame

Wall Street's Hottest Jobs? Lehman Bros

Bankruptcy experience is the skill set of the future, execs say

Feb 2, 09 7:00 AM CST
(Newser) - Wall Street's hottest jobs in 2009 are coming from its biggest disaster of 2008—Lehman Brothers, the Wall Street Journal reports. Lehman still has billions of dollars in assets and contracts to untangle and restructure, and Wall Street's legions of laid-off execs are keen to get a piece of the... More »

MORE ABOUT:
Wall Street • bankruptcy • employment • Lehman Brothers • restructuring • financial sector • Richard Fuld

(Newser) - A New York University professor who predicted the current economic crisis warns that losses at US banks could climb to $3.6 trillion, leaving the whole system essentially bankrupt, Bloomberg reports. Economist Nouriel Roubini argues that since the system has a base capitalization of just $1.4 trillion, if losses... More »

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bankruptcy • credit crisis • financial sector • writedowns • losses • oil prices • banking industry • insolvent

MARKET Open

 Stocks Fall as Bank Woes 
 Trump Obama Hope 

Royal Bank of Scotland's troubles ripple across Atlantic

Jan 20, 09 9:03 AM CST
(Newser) - Any excitement on Wall Street about Barack Obama’s inauguration was drowned out this morning by worries over Europe’s banking sector, the Journal reports. The Dow dropped more than 110 points, while the Nasdaq and S&P dropped 2% and 2.2% respectively. Those tumbles track drops in Europe... More »

MORE ABOUT:
stock market • United Kingdom • Royal Bank of Scotland • Nasdaq • Dow • Bank of England • financial sector • S&P 500 • financial crisis • State Street • Regions Financial

MARKETS

 Nervous Dow Rises 70 

Commodities, financials move in opposite directions

Dec 10, 08 3:24 PM CST
(Newser) - Markets ended with modest gains today as commodities got a boost and financials dropped, the Wall Street Journal reports. Meanwhile, fears over the struggling auto bailout spurred some flip-flopping, Bloomberg notes. The Dow rose nearly 190 points before settling down to finish up 70 points. The S&P climbed 11... More »

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Wall Street • Dow Jones • auto industry • financial sector • commodities • bailout • financial crisis

OPINION

Market Now Runs on Politics, Not Economics

Krauthammer: In bailout era, Democrat fiats are dangerous

Nov 28, 08 11:15 AM CST
(Newser) - Once upon a time, “if you wanted to get rich, you did it the Warren Buffett way,” writes Charles Krauthammer in the Washington Post. “You learned to read balance sheets.” That changed with the Bear Stearns rescue. Today, political maneuvering is what moves the... More »

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lobbying • auto industry • financial sector • bailout • financial crisis

MARKET Open

 Stocks Jump on Citi Rescue 

Dow makes triple-digit move in the right direction

Nov 24, 08 8:58 AM CST
(Newser) - Stocks kept Friday’s good mojo going this morning, after the government announced a massive plan to prop up Citigroup. The Dow rose 145 points at the open, as Citi shares leaped 57%, and pulled the rest of the sector with them. Bank of America rose 13%, while Morgan Stanley... More »

MORE ABOUT:
stock market • Citigroup • financial sector • S&P 500 • bailout • Dow Industrial • banking industry • financial crisis

 Financial Industry 
 May Shed 350K Jobs 

So far, 170,000 positions have been cut worldwide

Nov 21, 08 10:23 AM CST
(Newser) - Job cuts in the financial services sector could hit 350,000 worldwide by the middle of 2009, double the number so far, Bloomberg reports. "This is the financial equivalent of World War II," says the CEO of a major headhunting firm. If he's right, by summer, the industry... More »

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Citigroup • Lehman Brothers • job cuts • financial sector • investment banks • JPMorgan Chase

CEOs Took Billions
Off the Table Before Bust

15 financial, home building bosses made over $100M

Nov 20, 08 8:55 AM CST
(Newser) - Investors have lost some $9 trillion since last year’s stock market peak, but at the center of the maelstrom, CEOs of some of the worst-performing companies are sitting pretty. Fifteen financial services and homebuilding CEOs have accumulated more than $100 million each in the past 5 years in cash... More »

MORE ABOUT:
executive compensation • Goldman Sachs • CEO • Bear Stearns • Lehman Brothers • financial services • Toll Brothers • financial sector • Richard Fuld

(Newser) - Citigroup plans to slash more than 50,000 jobs, roughly 14% of its workforce, the company announced today, in an effort to shed expenses during the economic downturn. The cuts are in addition to the 23,000 heads that have already rolled this year, Bloomberg reports. Citi stock fell 19%... More »

MORE ABOUT:
Citigroup • layoffs • bank • unemployment • job cuts • financial sector • financial crisis

MARKETS

 Stocks Rise on Opening Bell 

New Wachovia deal boosts optimism

Oct 3, 08 8:48 AM CDT
(Newser) - Stocks climbed higher today, buoyed by Wells Fargo’s deal to snatch Wachovia from Citigroup. The Dow is up more than 100 points in early trading, while the Nasdaq and S&P rose 1.7% and 1.5%, respectively. Seemingly ignored was a worse-than-expected employment report, which showed the sharpest... More »

MORE ABOUT:
stock market • Citigroup • Dow Jones • Wachovia • Wells Fargo • markets • financial sector • financial crisis

Analysis

Depression, No—but That Lesson Is Vital

As credit outlook deteriorates, most important word is 'trust'

Oct 1, 08 4:20 PM CDT
(Newser) - Constant references to the Great Depression aren’t alarmist, but the analogy isn't perfect, either, writes David Leonhardt in the New York Times. "The basic mechanics of how the economy might fall into a severe recession look quite similar to those that caused the Depression," he... More »

MORE ABOUT:
credit market • financial sector • subprime crisis • bank failure • economy • Great Depression • financial crisis

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