Lehman Brothers, the largest mortgage-bond underwriter, awarded CEO Richard Fuld $35 million in stock for 2007 after he helped limit damage to the firm from the collapse of the US subprime mortgage market. Fuld, 61, received 551,442 units of...
Wall Street staged a temper-tantrum rout yesterday after failing to get all the cheap money it wanted from Uncle Sam. Facing a looming recession, officials at the Federal Reserve cautiously cut a key interest by just a quarter-point, disappointing...
Despite a housing downturn and credit market turmoil, US financial advertisers show no signs of pulling back. A new report says ad spending in the financial services sector, including mortgage lenders and retail banks, grew in the double-digits...
Citigroup yesterday named Vikram Pandit as its new prince with the hope that the 50-year-old former Morgan Stanley executive can rescue the nation's largest banking franchise from a credit crisis that has roiled the global financial markets...
Hedge fund billionaire Paul Tudor Jones has partnered with several big Wall Street firms and The New York Mercantile Exchange to form a new electronic venue for trading carbon greenhouse gases and other emissions, The Post has learned. According...
Google is struggling to become a verb in China. "G-O-O-G-L-E is not a normal Chinese spelling and people don't pronounce it right," Kai-fu Lee, Google's president for Greater China, said in a Nov. 30 interview in Beijing. "Most people call us 'go...
After announcing a multibillion-dollar belt-tightening, Washington Mutual's next move could be to sell itself to a giant such as JPMorgan Chase. Shares of WaMu plunged 12.4 percent yesterday in a sell-off at five times its usual daily trading...
CDOs Downgrades on collat eralized debt obligations by Standard & Poor's, Moody's Investors Serv ice and Fitch Ratings last month totaled 2,007, a record, according to a Morgan Stanley report. The November down grades, mainly among CDOs affected by...
Univision Communications' plan to sell its music business by year end might unwind from mounting legal problems at the company. The Spanish-language broadcaster, already fending off a pair of payola-related lawsuits involving its music division...
WE'VE discovered that music mogul Jay-Z has invested in a real estate development venture. Sources have been whispering all summer and autumn that the rap star/music mogul was getting involved in a hotel company. Now we've discovered that the...
THE race is on. A budding feud is developing between Vanity Fair columnist Michael Wolff and Wall Street Journal reporter Sarah Ellison, both of whom now have book deals to write about Rupert Murdoch and News Corp.'s takeover of Dow Jones. Late...
Troubled Canadian pharmaceutical manufacturer Biovail Corp. agreed to pay $138 million to settle a class-action lawsuit alleging that it misled investors and engaged in fraudulent accounting. After an expected insurance settlement, Biovail will...
The prospects of AT&T buying satellite television operator EchoStar Communications anytime soon dimmed yesterday, after the telecom giant announced plans to buy back up to 400 million shares, issue a big dividend to investors, and push its own...
Maus Freres SA, the Swiss owner of the Lacoste polo-shirt brand, made an unsolicited offer worth 5.2 billion kronor ($810 million) for Gant Co., a Swedish retailer of New England-inspired casual clothes. Maus, based in Geneva, said it will offer...
