Sen. Chuck Schumer urged the Federal Home Loan Bank of Atlanta yesterday to curb its lending to mortgage companies like Countrywide Financial, which is threatening the solvency of the FHLB. In a letter sent yesterday to Ronald Rosenfeld, chairman...
Stocks tumbled yesterday amid growing gloom over costly bailout struggles by the two biggest banks on each side of the Atlantic - Citigroup here and HSBC in London. Citigroup led Wall Street's stock rout, falling nearly 6 percent to drop below the...
NYSE fees The New York Stock Exchange will cut fees on a system floor bro kers use to verify that transactions between buyers and sellers are paired off properly. On- line comparison sys tem, or OCS, fees will be cut to 10 cents per transaction...
Prosecutors allege a Credit Suisse banker who helped mastermind a $7 million insider-trading ring engaged in the scam because he had a gambling problem. But a lawyer for Hafiz Naseem scoffed at the notion, calling it a "desperate attempt" by...
IF these were normal times you'd already be hearing a lot of chatter about the end-of-the-year rally in the stock market. And I wish I could write that column - which I usually do right about now. But 2007 is far from normal. Here's how things...
Fannie Mae and Freddie Mac slid in trading yesterday after UBS AG analysts reduced their recommendations and price estimates because of the likelihood for slower earnings growth at the companies, the largest sources of money for U.S. home loans...
Genesco Inc., the shoe retailer seeking to be bought by Finish Line Inc., said it received a subpoena from the US attorney's office in New York related to its merger agreement. The subpoena says documents are being sought in connection with...
Investor optimism about the outlook for US financial markets fell this month to the lowest since September 2005 after concern grew the world's biggest economy is headed into a recession, according to a UBS AG poll. The UBS/Gallup Index of Investor...
Consumers who want to make cheap international calls over the Internet no longer need to use a computer or special phones to make them. JaJah Inc., a Mountain View, Calif.-based start-up backed by Intel, Sequoia Capital and Globespan Capital, is...
Low-cost US carrier JetBlue Airways Corp has begun selling tickets through online travel agencies Travelocity, Orbitz Worldwide, and Priceline.com, the companies said yesterday. The deals expand JetBlue's reach and step up competition for...
Cable industry observers and the Federal Communications Commission will be looking to this Thursday's Dallas Cowboys-Green Bay Packers game - the most significant matchup yet to air exclusively on NFL Network - to gauge consumer demand for the...
Blackstone Group LP co-founder Stephen Schwarzman, in his first public appearance since selling shares of the company at the peak of the leveraged-buyout boom, said rising borrowing costs are crimping the pace of large LBOs. Private-equity firms...
Sears Holdings Corp., the retailer run by investor Edward Lampert, offered to purchase California home-furnishings chain Restoration Hardware Inc. for $269 million, topping a bid from a buyout firm earlier this month. Sears offered to pay $6.75 a...
Barry Diller and Wal-Mart shared honors yesterday for scoring record levels of online shopping in this year's holiday sales kickoff. Big markdowns and even free shipping on many items at scores of retailers helped draw more consumers online than...
