Wall Street got hit yesterday by a pair of falling turkeys - the headless Citigroup and the wounded UBS - as the banks tumbled deeper into the global junk mortgage pits. Stocks plunged in New York and across Europe after banking analysts on two...
Homebuilders Confidence among U.S. homebuilders held at a record low in No vember as lenders made it tougher to get mort gages and house prices kept falling. The Na tional Association of Home Builders/Wells Fargo index of builder confidence stayed...
Wall Street dealmakers are fuming over secretive hedge fund manager Stephen Feinberg's decision to walk away from his $7 billion deal to buy United Rentals and are threatening to stop doing business with his firm. United Rentals, the nation's...
Shares in satellite television operator EchoStar Communications surged 19 percent yesterday on renewed speculation that it is close to a buyout deal with long-rumored suitor AT&T. EchoStar stock rose $7.66 to $47.49 a share, fueled largely by...
Entertainment Weekly raided Crain Communications' flagship weekly Advertising Age to snag Publisher Scott Donaton as the new publisher of Time Inc.-owned EW. Donaton becomes the fifth publisher at the embattled title in five years, and arrives...
A hedge fund has filed a counter-claim against insurer Fairfax Financial Holdings and its law firm for defamation and using private investigators to harass its employees. The Bank of New York's Institutional Credit Partners is alleging Fairfax...
Genesco Inc., the shoe retailer seeking to be bought by Finish Line Inc., fell the most in five years after UBS AG asked a judge to let it out of an agreement to finance the $1.5 billion acquisition. Genesco's unexpected second-quarter loss and...
Goldman Sachs Group Inc.'s Global Alpha hedge fund may lose about $6 billion in assets this year, a 60 percent decline, because of trades that went awry and client withdrawals, according to two investors. Global Alpha, which entered 2007 with more...
WHEN the beloved Moondance diner was famously trucked off from western SoHo to the wilds of Wyoming last summer, it was widely reported that the site at Sixth Avenue and Grand Street would be used for a luxury apartment building. No longer. Gary...
"Give It Away" may be a Red Hot Chili Peppers anthem - but the band isn't so free when it comes to other companies using its song titles. Cable channel Showtime is in hot water with the Chili Peppers over "Californication," a popular new show for...
I offered some ideas last week for improving the economy. One: Relieve the housing glut by allowing people to easily take money out of retirement accounts without a tax penalty to purchase homes. Another: Force the auto industry to offer half...
Holiday shoppers have been slow to hit the stores this year, but they'll be out in full force on Black Friday. About 24 percent of consumers plan to shop on the day after Thanksgiving, up from 20 percent last year, according to a holiday shopping...
Americans aren't buying as many Christmas decorations and tinsel this year, a grim new sign of slower holiday spending ahead. Retailers believe the boycott of glittery, blingy, inflatable decorations is the latest barometer of "a less than stellar...
Shareholders in the securities industry are having their worst year since 2002, losing $74 billion of their equity, but that won't stop Wall Street from paying a record $38 billion in bonuses. The money, split among about 186,000 workers at...
