Citigroup faces a write-down in the range of $6 billion to $10 billion, and Chief Executive Charles Prince has submitted his resignation, CNBC has learned.  Is Citigroup In Trouble? 

  Large U.S. banks and brokerages will suffer additional writedowns of more than $10 billion in the fourth quarter as deteriorating credit trends continue, a Deutsche Bank analyst said.

  Former American International Group chief executive and major stockholder Maurice "Hank" Greenberg said in a filing on Friday that he was considering "strategic alternatives" for the world's largest insurer.

  Merrill Lynch's credibility and stock took a big hit Friday on reports that the biggest brokerage firm sought to delay billions of dollars of losses on troubled assets by moving them to hedge funds.

  Stocks could be setting up for a bit of a bounce back but first investors need to decide just how radioactive the financial sector has become.

  The complex world of asset-backed securities may be a bit of a blur for the average investor. But the credit crunch that mushroomed from this market will buffet consumers well into 2008, analysts predict.

  US crude oil futures ended at a record close of almost $96 on Friday as robust domestic jobs data reassured investors that the current credit crunch had not affected the wider economy.

  Warren Buffett's Berkshire Hathaway said on Friday its third-quarter profit rose 64 percent, helped by investment gains including the sale of a stake in PetroChina.

  Can Cisco save us? The backbone of the internet reports earnings on Wednesday.

  The rate of foreclosures in the United States will remain higher than normal for the next18 months as the current home loan crisis plays itself out, a senior U.S. Treasury official said Friday.

  Top Videos of the Week

  The House tax-writing committee has advanced legislation to shield some 20 million middle-class taxpayers from being hammered this year by a tax meant to affect only the rich.

  Union officials say a strike by Hollywood writers will begin Monday morning unless a last-minute deal is reached over the weekend with studios on a new contract.

  U.S. employers added about twice as many new employees last month than expected, while factory orders edged up, according to government reports that implied the economy was strong enough to avoid recession.