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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: Merrill Lynch

Merrill Lynch stories: 155 news summaries

41 - 60 of 155 Stories | << Prev 1 2 3 4 5 6 7 8 Next >>

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MARKET OPEN

 Banks Drive Stocks Down Early 

Investors see bad news everywhere in new data

Jan 15, 09 9:11 AM CST
(Newser) - Stocks dropped at the open today as a surprisingly good JPMorgan quarter struggled to offset other negative economic news, the Wall Street Journal reports. The Dow was off 108, despite Morgan's 4% surge, as Bank of America plummeted 15% after reports it would need more aid to close the Merrill... More »

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stock market • Steve Jobs • Bank of America • Apple • Merrill Lynch • Nasdaq • Dow • S&P 500 • JPMorgan Chase

(Newser) - The feds will have to pony up billions of dollars more to help Bank of America close its deal to purchase Merrill Lynch, the Wall Street Journal reports. BoA already has received $25 billion, but Merrill's massive fourth-quarter losses have thrown a wrench in the acquisition. Henry Paulson is a... More »

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Bank of America • Merrill Lynch • credit crisis • bailout • banking industry

BofA Boss Reluctantly Bags Bonuses

Bridling at political pressure, Lewis nixes cash for top execs

Jan 7, 09 8:37 AM CST
(Newser) - Despite being rankled by political pressure to forgo bonuses for himself and other top Bank of America execs, CEO Kenneth Lewis has asked the board to withhold bonuses for 2008, reports the Wall Street Journal. The company saw its stock fall 66% in 2008 and 3rd-quarter profits plunge 68%, and... More »

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executive compensation • Bank of America • Merrill Lynch • Wells Fargo • Kenneth Lewis • China Construction Bank

BoA, Wells Fargo
Wrap Up Takeovers

Tough road ahead for merged financial institutions

Jan 1, 09 3:27 PM CST
(Newser) - Bank of America and Wells Fargo completed their respective takeovers of Merrill Lynch and Wachovia this week, expected developments that close the books on a year of unprecedented change in the banking industry, Reuters reports. The acquisition of Merrill makes BoA the largest US bank by assets, with $2.7... More »

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Bank of America • takeovers • Wachovia • mortgage • Merrill Lynch • Wells Fargo • banks • financial crisis

 Just How Bad Was 2008? 

The worst anyone under 70 has seen, Bloomberg reports

Dec 31, 08 4:37 PM CST
(Newser) - If you're under the age of 70, 2008 was probably the worst year you've lived through, reports Bloomberg. Here's why:
  • In housing, which started the downturn, median resale prices saw a 13% decline, the largest since the 1930s.
  • Foreclosure rates reached 2.97%, and mortgage delinquency hit 6.
... More »

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stock market • housing market • Bear Stearns • Merrill Lynch • recession • Lehman Brothers • securities • mortgage backed securities

 Bailed-Out Bank Execs 
 Made $1.6B Last Year 

Execs made average of $2.6 million; Merrill Lynch CEO made $83 million

Dec 21, 08 3:45 PM CST
(AP) - Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an AP analysis reveals. Benefits at bailed-out institutions like Goldman Sachs, Merrill Lynch, and JPMorgan Chase included cash bonuses, stock options, personal use of company jets and chauffeurs,... More »

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executive compensation • Goldman Sachs • Merrill Lynch • bonuses • John Thain • benefits • JPMorgan Chase • financial crisis • Wall Street bailout • TARP

Profits Were Fake, Bonuses All Too Real

How risky schemes
left bankers flush, banks broke

Dec 18, 08 8:36 AM CST
(Newser) - Dow Kim was one of the leading bond traders at Merrill Lynch, and in 2006 he bundled together $500 million in loans into a huge CDO with the charming name Costa Bella. Since the subprime collapse, Costa Bella has cost Merrill millions—but Kim had already cashed out, awarded a... More »

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executive compensation • Merrill Lynch • CDO • bonuses • mortgage backed securities • compensation • collateralized debt obligations • financial crisis

 BofA Will Lay Off 35K 

Recession, takeover of Merrill to blame for latest employee dump

Dec 11, 08 4:59 PM CST
(Newser) - Bank of America said today it will cut between 30,000 and 35,000 jobs in the next 3 years, the AP reports; the move is spurred by the continuing economic downturn and the bank’s recent purchase of Merrill Lynch. Cuts will be broad and will affect both the... More »

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layoffs • Bank of America • mergers and acquisitions • Merrill Lynch • recession • downsizing • financial crisis • economic downturn

Morgan Stanley to Withhold Bonuses Until Bets Pay Off

Wall Street showing bonus season restraint

Dec 9, 08 8:00 AM CST
(Newser) - Attempting to curb criticism after taking billions in government bailout cash, Morgan Stanley has attached a “claw-back” provision to employee bonuses this year that allows the bank to withhold payouts if employees don’t manage risk properly. The Wall Street behemoth will hold onto a portion of employees’ bonuses... More »

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executive compensation • Goldman Sachs • Morgan Stanley • Merrill Lynch • bonuses • financial crisis • Wall Street bailout

Merrill CEO Backs Off $10M Bonus Request

Wall Street climate pressures Thain to
forgo year-end check

Dec 8, 08 5:40 PM CST
(Newser) - Under a wave of criticism, Merrill Lynch CEO John Thain today gave up asking for a $5-to-$10 million bonus, the Wall Street Journal reports. New York Attorney General Andrew Cuomo called the request "nothing less than shocking" during an "abysmal year" in which Merrill lost $11 billion.... More »

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Wall Street • executive compensation • Morgan Stanley • Merrill Lynch • John Mack • bonuses • John Thain • bailout

 Merrill Boss Seeks 
 $10M Bonus 

Directors unlikely to comply given public sentiment

Dec 8, 08 4:01 AM CST
(Newser) - Merrill Lynch narrowly escaped extinction this fall, and CEO John Thain is seeking an end-of-year bonus of as much as $10 million for keeping the company alive, reports the Wall Street Journal. Merrill's board of directors—acutely aware of public scrutiny—appear unlikely to fork over that kind of package... More »

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executive compensation • Bank of America • Merrill Lynch • Lehman Brothers • bonuses • John Thain • financial crisis • recession depression

 Merrill to Slash Bonuses 50% 

Still facing the fallout from the sub-prime meltdown, the firm slashes pay for 60,900 employees

Dec 3, 08 7:35 AM CST
(Newser) - Merrill Lynch, facing losses of $13.3 billion this year and with revenues off 96% from a year ago, will slash year-end bonuses at least 50%, Bloomberg reports. Some employees may face steeper cuts. Merrill and Bank of America, which agreed to acquire the failing investment bank earlier this year,... More »

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executive compensation • Merrill Lynch • John Thain • bailout • financial crisis

 Big Players Reel 
 in Charity Spending 

Drop-off in corporate giving leaves groups scrambling

Nov 25, 08 12:14 PM CST
(Newser) - Charities used to getting much of their money from major corporations and private foundations are feeling the economic downturn, the Wall Street Journal reports. Bill Gates’ foundation plans to give fewer grants next year, and other large donors are honoring existing pledges but refusing to make new ones. “You... More »

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New York • Bear Stearns • Merrill Lynch • charity • Lehman Brothers • nonprofit • AIG • Hank Greenberg • Bill and Melinda Gates Foundation • Sheldon Adelson • financial crisis • David Koch

Bank of America Doubles Stake in Chinese Bank

Shells out $7B while slashing jobs, taking bailout funds

Nov 18, 08 8:02 AM CST
(Newser) - Bank of America will inject $7 billion into China Construction Bank Corp, Bloomberg reports, nearly doubling its stake in the bank even as it slashes jobs and accepts government bailout money. CCB is down 45% over the past six months, and BoA CEO Ken Lewis is getting a 32% premium... More »

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China • Bank of America • mergers and acquisitions • Merrill Lynch • job cuts • bailout • Troubled Asset Relief Program • China Construction Bank

ANALYSIS

 Crisis May Cost World 20M Jobs 

Analysts see 'equal-opportunity recession'

Oct 21, 08 3:22 PM CDT
(Newser) - The financial sector is slashing workers, and Silicon Valley employees are dropping like prices on last year's iPod. What industry is next? All of them, Moira Herbst writes in BusinessWeek. Every company relies on credit and consumer purchasing power, making this an “equal-opportunity recession,” a staffing agent says.... More »

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globalization • General Motors • Merrill Lynch • recession • unemployment • job cuts • financial crisis • Hewlett-Packard

GLOSSIES

Times Tough for I-Bankers, in 'Marie Antoinette' Kind of Way

Tough times prompt some soul searching, but titans confident they'll regain Wall St. primacy

Oct 20, 08 3:26 PM CDT
(Newser) - With Wall Street in free fall, many of its elite I-bankers are seeing the status quo turned upside-down, Vanessa Grigoriadis writes in New York. Once at the top of the heap, working for companies that praised them as smartest people out there, some are fighting to survive on the Street,... More »

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Wall Street • Goldman Sachs • Morgan Stanley • Bear Stearns • Merrill Lynch • lifestyle • investment bankers • hedge funds • financial crisis

earnings reports

Citi Losses Less than Expected; Merrill Drops $5B

Third quarter earnings show recovering bank, struggling brokerage

Oct 16, 08 7:20 AM CDT
(Newser) - A pair of earnings reports from Citigroup and Merrill Lynch for the third quarter shows just how deeply wounded the big brokerage is, while painting a slightly brighter picture for the big bank, reports Bloomberg. Citi, the nation’s largest bank, beat analyst expectations with a net loss of $2.... More »

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Citigroup • Merrill Lynch • corporate earnings • writedowns • financial crisis

OPINION

Crisis Leaves Goldman Nearly Unruffled

Being ahead of curve, having friends in high places pays dividends

Oct 2, 08 4:08 PM CDT
(Newser) - With the US financial inferno taking down most of the big investment banks, Goldman Sachs is set to emerge “essentially the same institution,” David Weidner writes in MarketWatch, stronger than it was before and with the same powerful array of friends in high places who, intentionally or otherwise,... More »

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Bank of America • Goldman Sachs • Merrill Lynch • Lehman Brothers • JPMorgan Chase • financial crisis

ANALYSIS

Execs Were Paid $3B to Lay Credit Crisis Foundation

Wall Street chieftains were well rewarded for risks they took in 2003-07

Sep 26, 08 5:45 PM CDT
(Newser) - More than $3 billion was paid to the chief executives of the five biggest financial firms on Wall Street in the run-up to the credit crisis, Bloomberg reports. While supervising bad mortgage-related credit bets that eventually brought the financial system to its knees, Merrill Lynch’s Stanley O’Neal took... More »

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executive compensation • Goldman Sachs • CEO • Henry Paulson • Bear Stearns • Merrill Lynch • James Cayne • credit crisis • Stanley O'Neal • compensation • investment banks • JPMorgan Chase • financial crisis

 Mac: Delay 
 Debate to 
 Focus on 
 Economy 

Republican says he's leaving the campaign trail to work on bailout

Sep 24, 08 2:47 PM CDT
(AP) - John McCain says he's directing his staff to work with Barack Obama's campaign and the debate commission to delay Friday's debate because of the economic crisis. In a statement today, McCain says he will stop campaigning after addressing Bill Clinton's Global Initiative session tomorrow and return to Washington to focus... More »

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Barack Obama • John McCain • Merrill Lynch • Election 2008 • George W. Bush • financial crisis

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