E*Trade's shares plummeted 59 percent yesterday amid fears the online discount brokerage's exposure to bad home loans might force it into bankruptcy. Investor jitters started after a Citigroup analyst sent out a note to clients over the weekend...
Citi slump Citigroup may slump below $30 a share, a drop of 14 percent, as U.S. bank shares extend declines on write- downs that will have a "severe impact" on their capital ratios, according to CIBC World Markets. Weiss trial Melvyn Weiss, the Mil...
Wall Street ratcheted its way through a fractious session yesterday before finally closing lower on expectations of further fallout from the ongoing credit crisis. The Dow Jones industrials, up more than 100 points during the day, ended below 13,000...
Goldman Sachs Group Inc. held a bigger proportion of hard-to-value assets at the end of the third quarter than Citigroup Inc. and Merrill Lynch & Co., two of the firms hardest hit by subprime mortgage losses. Goldman's Level 3 assets, for which...
The hedge fund at the center of Overstock.com's controversial short-selling lawsuit has filed a counterclaim against the online retailer, arguing it is trying to cover up questionable accounting and poor business decisions. In a complaint filed...
Microsoft is making a second attempt to take a bite out of Apple's dominance in the digital music business with an overhaul of its MP3 player, the Zune. The company releases its next generation of the portable music and video player today, amid...
Crude oil fell more than $1 a barrel on forecasts for reduced U.S. consumer spending and as the dollar rose against the euro. Rising fuel costs may have slowed retail spending growth in the U.S., the world's largest oil user, to a four-month low...
IN the annals of deals worth waiting for, they don't come much sweeter than this. Global advertising behemoth Omnicom Group just completed a big, longawaited lease for the top floors of 195 Broadway: the “wedding cake" office tower that L&L Holding...
HERE'S what I wrote in a col umn right before the interest-rate cut by the Federal Reserve. "PRAY that these aren't the headlines you'll see over the next couple of weeks: "Fed cuts interest rates." "Dollar collapses in value." "Foreigners move...
As concerns about global warming continue to heat up, one of Silicon Valley's biggest venture-capital firms is turning to Al Gore to help it make bets on companies and entrepreneurs trying to solve the problem. The former vice president, who was...
Saudi Prince Alwaleed Bin Talal doesn't seem too worried about losing $4.6 billion on his Citigroup stake this autumn - he's buying the world's most lavish flying palace. Alwaleed - the richest investor outside the U.S. - is the first individual...
Blackstone Group's billionaire founder Stephen Schwarzman got another bitter taste of the pain that can come with being a public company yesterday after the buyout giant's stock fell 8 percent as the credit crunch took its toll on profits...
Guy Hands' Terra Firma, on the hunt for additional equity investors in EMI, is telling prospective partners they can nearly quadruple their money in the struggling major label and cash out within five years. According to a confidential investor...
