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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: Wachovia

Wachovia stories: 50 news summaries

21 - 40 of 50 Stories | << Prev 1 2 3 Next >>

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Wells Closing In
on Deal to
Buy Wachovia

Merger would create three banks with 30%
of all deposits

Sep 29, 08 5:38 AM CDT
(Newser) - Wells Fargo appeared to be close last night to forging a deal to buy struggling Wachovia, the nations's fourth-largest bank, reports the Wall Street Journal. Federal regulators pressured Wachovia to seek a suitor after its share prices plunged 47% last week. Citigroup was also in talks, but Wells now appears... More »

MORE ABOUT:
Citigroup • Wachovia • Wells Fargo • JPMorgan Chase • banking industry • financial crisis

Battered Wachovia Shops for Buyers

Citigroup, Wells Fargo among suitors in wake of WaMu collapse

Sep 27, 08 11:31 AM CDT
(Newser) - Wachovia is in a new round of talks with potential buyers, reports the Wall Street Journal, courting Citigroup, Wells Fargo, and Spain’s Banco Santander to help guard it from the financial market crisis. While the bank says it’s not in immediate danger, shares at Wachovia, which holds... More »

MORE ABOUT:
Citigroup • merger • Wachovia • credit crisis • Washington Mutual • financial crisis

MARKETS

 Stocks Sink; Bush Pledges Deal 

Dow falls over 100 points at open

Sep 26, 08 8:52 AM CDT
(Newser) - Socks plummeted today as confidence in the federal bailout program evaporated and investors absorbed the collapse of Washington Mutual. The Dow fell 140 points after the opening bell, while the Nasdaq dropped 2.2% and the S&P fell 1.7%, the Wall Street Journal reports. President Bush gave... More »

MORE ABOUT:
stock market • Wachovia • markets • Washington Mutual • financial sector • bailout

Markets Give Morgan Stanley Breathing Room on Merger

Wachovia still a player as rising shares gives firms more time to think

Sep 19, 08 3:10 PM CDT
(Newser) - Morgan Stanley presses on with merger negotiations, but the beginning of a recovery in financial markets today means the bank will have more time to weigh options, Reuters reports. Talks continue with Wachovia and China Investment Corp., among others, but the firm "feels that it can slow down the... More »

MORE ABOUT:
Goldman Sachs • Henry Paulson • merger • Wachovia • Morgan Stanley • China Investment Corp • bailout • financial crisis

 Morgan Stanley, WaMu
Edge Closer to Deals

WaMu readies for sale while Morgan mulls merger options

Sep 19, 08 3:07 AM CDT
(Newser) - Two of the biggest financial institutions in the midst of the market turmoil are moving closer to hammering out deals. Washington Mutual's suitors are believed to include Citibank, JP Morgan and Bank of America, insiders tell Bloomberg, while Morgan Stanley and Wachovia have stepped up merger talks, reports the New ... More »

MORE ABOUT:
Bank of America • Wachovia • Morgan Stanley • Citibank • credit crisis • Washington Mutual • financial institutions • JPMorgan Chase • financial crisis

(Newser) - Morgan Stanley, one of the two big investment banks left standing in the economic rubble, is exploring a merger with Wachovia or another bank, the Wall Street Journal reports. Morgan Stanley officials have had preliminary talks with the other institutions as they scramble to shore up the company's plunging stock... More »

MORE ABOUT:
Wachovia • Morgan Stanley • credit market chaos • banking industry

 3 More Wall Street Firms Agree to Buy Back Securities

Settlement reached after auction-rate securities market collapse

Aug 22, 08 2:23 AM CDT
(Newser) - Merrill Lynch, Goldman Sachs and Deutsche Bank have agreed to a settlement with New York's attorney general and other state regulators to buy back $14.5 billion of now worthless auction-rate securities. The brokerages will also pay $162 million in fines to settle charges that they misled investors into thinking... More »

MORE ABOUT:
Citigroup • Goldman Sachs • Wachovia • Morgan Stanley • Deutsche Bank • UBS • Merrill Lynch • SEC • Andrew Cuomo • John Thain • auction-rate securities • JPMorgan Chase

Cuomo Raises Pressure
on Merrill

He says company
faces lawsuit over auction-rate securities

Aug 15, 08 5:12 PM CDT
(Newser) - With Wachovia locked in to buying back $9 billion in auction-rate securities from clients, New York Attorney General Andrew Cuomo has his sights set next on finance titans Merrill Lynch and Goldman Sachs, Bloomberg reports. Cuomo says Merrill faces an "imminent" lawsuit after offering to buy back $10 billion... More »

MORE ABOUT:
Attorney General • Goldman Sachs • Wachovia • Merrill Lynch • lawsuit • Andrew Cuomo • auction-rate securities

MARKETS

 Stocks Break 2-Day Slump 

Rising dollar, falling oil contribute as well

Aug 14, 08 3:28 PM CDT
(Newser) - Stocks posted solid gains today for the first time in three days as financials rebounded, the dollar gained, and oil fell nearly $1, MarketWatch reports. The Dow rose 82.97 points to close at 11,615.89, the Nasdaq gained 25.05 to 2,453.67, and the S&P... More »

MORE ABOUT:
Bank of America • Dow Jones • Wachovia • core inflation • Nasdaq • S&P 500 • auction-rate securities • financial stocks

Bank Losses Soar on Falling Home Prices

Lenders swamped with foreclosures are selling them at firesale prices

Aug 13, 08 8:05 AM CDT
(Newser) - The rising costs of carrying foreclosed homes are prompting banks to sell them off for as little as half of their original value, reports the Wall Street Journal, a strategy that’s costing financial institutions big money. The losses, and the specter of their continuing to rise, pummeled bank... More »

MORE ABOUT:
Wachovia • foreclosure • credit crisis • housing crisis • JPMorgan Chase

MARKETS

 Financials Lead Broad Slump 

Equities fall even though oil does, too

Aug 12, 08 3:30 PM CDT
(Newser) - Stocks fell today as waves of bad news from the financial sector battered investor sentiment, MarketWatch reports. Equities lost value despite a $1.44 drop in the price of oil, reversing what has recently been a consistent inverse relationship. The Dow fell 139.88 to 11,642.47, the Nasdaq... More »

MORE ABOUT:
Dow Jones • Wachovia • UBS • Nasdaq • S&P 500 • auction-rate securities • JPMorgan Chase • oil prices

Morgan Stanley, JPMorgan on Auction-Rate Probe Hot Seat

List of banks buying back bonds gets longer

Aug 12, 08 9:46 AM CDT
(Newser) - As New York AG Andrew Cuomo's office continues applying heat, banks are scrambling to react to the auction-rate securities crisis, the Wall Street Journal reports. Morgan Stanley said yesterday it will buy back about $4.5 billion of the illiquid securities—but a Cuomo spokesman called the move “too... More »

MORE ABOUT:
Wachovia • Morgan Stanley • Andrew Cuomo • auction-rate securities • investment banks • JPMorgan Chase

 More Lenders
 Dropping
 Student Loans

Some 900,000 students scrambling for alternate ways to pay tuition this fall

Aug 11, 08 8:18 AM CDT
(Newser) - Continuing turmoil in credit markets has prompted more private lenders to cut back or eliminate education loans, leaving thousands of student borrowers without the cash they need for college, reports the Wall Street Journal. Last week Wachovia joined more than 2 dozen banks that have cut funds available to... More »

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student loans • Wachovia • credit crisis • lending practices • college loans

ANALYSIS

Could-Have-Been-Worse News Now Cheers Wall Street

A year into crisis, analysts redefine once-shocking news as not so bad

Jul 23, 08 5:56 AM CDT
(Newser) - Yesterday's announcements of multibillion-dollar losses at Wachovia and Washington Mutual were only the latest poundings since the credit crisis took hold a year ago. Yet Wall Street, its expectations at rock bottom, cheered the reports because they could have been worse. Shares in WaMu, which posted a $3.3 billion... More »

MORE ABOUT:
subprime mortgages • Wachovia • recession • credit crisis • Washington Mutual • mortgage backed securities • quarterly results • financial crisis

MARKETS

 Stocks Rise as Oil Drops 

Price of barrel drops to $126, a 7-week low

Jul 22, 08 3:22 PM CDT
(Newser) - Stocks climbed to robust gains by the end of today’s session as a drop in oil helped offset a spread of mixed earning reports, MarketWatch reports. The Dow gained 135.16 points to close at 11,602.50, the Nasdaq rose 24.43 to 2,303.9, and the... More »

MORE ABOUT:
oil • Dow Jones • Wachovia • earnings reports • American Express • Nasdaq • Caterpillar • DuPont • S&P 500

Earnings

Wachovia Posts $8.9B Loss Under New CEO

'Dismal' housecleaning quarter much worse than expected

Jul 22, 08 9:58 AM CDT
(Newser) - New Wachovia CEO Robert Steel moved aggressively to staunch the bank's losses by taking a massive $8.9-billion hit in the second quarter and slashing its dividend to almost nothing, the New York Times reports. Steel had every reason to clean house, but analysts had predicted only a 78... More »

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Wachovia • earnings reports • corporate earnings • second quarter earnings • Robert Steel • financial crisis

MARKETS

 'Difficult' Dow Ends Down 358 

Oil surges past $140 as dollar weakens, financials downgraded

Jun 26, 08 3:37 PM CDT
(Newser) - Stocks plunged today due to the convergence of bad news across all sectors of industry against the backdrop of oil’s first surge over $140 a barrel, the Wall Street Journal reports. The Dow plummeted to a 2-year-low, shedding 358.41 to 11,453.42. The Nasdaq fell 79.89,... More »

MORE ABOUT:
inflation • Goldman Sachs • Federal Reserve • Dow Jones • Wachovia • Nasdaq • oil price • S&P 500

MARKETS

 Financials Key Downward Spiral 

Executive shuffles at WaMu, Wachovia give market jitters

Jun 2, 08 3:38 PM CDT
(Newser) - Financials keyed major market losses as high-level personnel shuffles at Wachovia and Washington Mutual, plus a report by Standard and Poor that downgraded the ratings of several prominent banks, disconcerted investors, MarketWatch notes. The Dow lost 134.50 to settle at 12,503.82, and the Nasdaq lost 31.13,... More »

MORE ABOUT:
Dow Jones • Wachovia • Merrill Lynch • Nasdaq • credit crisis • Washington Mutual • Standard and Poor • WaMu • S&P 500

Wachovia Targeted in Drug Money Laundering Probe

Feds look into bank's conection with suspect casas de cambio

Apr 26, 08 7:20 AM CDT
(Newser) - Federal prosecutors have targeted Wachovia in an investigation into the use of money-exchange houses along the Mexican border to transfer money from US sales to Latin American drug lords, the Wall Street Journal reports. The bank invested heavily in the casas de cambio despite warnings that such firms were often... More »

MORE ABOUT:
Wachovia • currency exchange • money laundering • drug cartel • banking • bank regulation

Updated

 Oil Tops Record High $113 

Dollar's decline chief cause of spike

Apr 15, 08 6:44 AM CDT
(Newser) - Crude oil hit a new record high in trading today—$113.66 a barrel—as weary investors attempted to hedge against a tumbling dollar and oil shipments were disrupted around the world. Though the dollar is the main concern, supply problems, including OPEC's decision not to change its 2008 outlook... More »

MORE ABOUT:
Wachovia • oil price • crude oil • US dollar • weak dollar • $100 a barrel oil

21 - 40 of 50 Stories | << Prev 1 2 3 Next >>


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