NEW YORK (Reuters) - Buyout firm Warburg Pincus LLC said on Monday it would invest $1 billion in MBIA Inc , bolstering the finances of the world's largest bond insurer amid concern about its ability to pay claims on faltering mortgage-backed bonds.
WASHINGTON (Reuters) - Pending sales of existing U.S. homes rose modestly in October, bucking Wall Street forecasts, but the decline from a year ago was the third largest on record, a reminder of how far the housing market has fallen.
NEW YORK (Reuters) - Stocks rose on Monday as investors welcomed cash infusions into bond insurer MBIA Inc and Swiss bank UBS as votes of confidence in the battered financial sector.
CHICAGO (Reuters) - A U.S. judge sentenced former media mogul Conrad Black on Monday to 6-1/2 years in prison for obstructing justice and defrauding shareholders in one-time newspaper publishing giant Hollinger International Inc., and ordered him to report to prison in 12 weeks.
ZURICH (Reuters) - UBS announced a $10 billion write-down and a massive injection of funds from Singapore and the Middle East, making it the biggest subprime crisis casualty to date among major European banks.
NEW YORK (Reuters) - Bank of America Corp's Columbia asset management unit said on Monday it is closing a privately placed money-market fund for institutional investors.
NEW YORK (Reuters) - Microchip maker Texas Instruments Inc said on Monday mobile phone chip demand was a little better than anticipated, relieving investors and sending its shares up more than 6 percent, as it increased expectations for fourth-quarter revenue and earnings.
NEW YORK (Reuters) - Citigroup's next leader will inherit a balance sheet battered by exposure to subprime assets, a work force bracing for major job cuts and a consumer lending business that could be slugged by a U.S. economic slowdown.
NEW YORK (Reuters) - A U.S. law firm that focuses on shareholder lawsuits against big corporations has formed a new team to deal with cases stemming from the subprime mortgage meltdown.
NEW YORK (Reuters) - Private equity firm Blackstone Group on Monday denied speculation that it is planning a counterbid for Rio Tinto Ltd/Plc with a consortium believed to include China's sovereign wealth fund.
