After a intense weekend of meetings by the top Wall St. Firms, Lehman Brothers could not come up with a buyer to keep it out of bankruptcy. That put the nail in the coffin - and the century and a half old company filed for Chapter 11 protection. The bankruptcy filing also helped spark the sale of Merrill Lynch to Bank of America. In a press conference Monday, BofA said it agreed to buy Merrill in an all-stock deal valued at roughly 50 billion dollars. The sale of Merrill Lynch did not instill calm..instead nervousness abounded about who would be next. Wave after wave of selling ended with the Dow nose-diving 504 points, or nearly 4 and a half percent, the S&P 500 dropped 58 that's over 4.7%, and the Nasdaq tumbled 81 points, or 3.6%. Insurance giant AIG came under intense scrutiny as it struggled to raise capital and avert a downgrade by Wall Street ratings agencies. At roughly midday the company announced a deal with the state of New York, freeing up 20 billion dollars....
After more than two decades in the international banking doldrums, Japan is back. Japan's Nomura Holdings is to pay up to $525 million for Lehman's Asia Pacific franchise and is...
After more than two decades in the international banking doldrums, Japan is back. Japan's Nomura has agreed to buy Lehman Brothers' equities and investment banking business in Europe and...
TiVo, the popular U.S. television-recording device, is finally arriving in Canada in early December. - The TiVo set-top device, which allows viewers to record shows and skip commercials,...
Hong Kong shares rebound on Thursday(October 9), after recording a nearly 13 percent slide so far this week, helped by coordinated central bank action around the world and a raft of favourable...
Asia stocks largely gained on Thursday with investors gaining confidence following solid business spending data out of the United States. Japan's Nikkei rose 3 percent (14,124) its best daily...
Asia stocks ended the week on a high note with investors soothed by signs of bigger than expected economic growth figures in the United States. Exporters such as Toyota were among the top gainers....
While consumers in the United States struggle with rising fuel prices, Venezuela's gasoline the cheapest in the world at 12 cents per gallon. Venezuelan President Hugo Chavez, a fierce...
Asia stocks dropped for a fourth consecutive session on Wednesday with sky high oil prices and inflation woes punishing markets across the region. Japan's Nikkei fell 1.3 percent (13,286 )...
The U.S. Senate is set to vote Wednesday night on a $700-billion US financial bailout plan that was narrowly defeated Monday in the House of Representatives. Following a day of closed-door...
Asia stocks slid on Monday with investors worried about rising inflation and sluggish U.S. economic growth. Japan's benchmark Nikkei fell 2.3 percent (13,690) its biggest fall in six weeks....
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