NEW YORK (MarketWatch) — Lehman Brothers led financial sector stocks lower
Tuesday at the open, as reports intensified that the New York investment bank is
busy hawking its asset management unit Neuberger Berman. Lehman shares dropped
6.3%, followed by insurer American International Group whose shares fell 4.6%.
After plummeting the previous day, Fannie Mae and Freddie Mac clawed back [...]
Morgan Stanley’s quarterly profit off 60%
By Greg Morcroft, MarketWatch
Last Update: 6/18/2008 8:57:00 AM
NEW YORK (MarketWatch) — Morgan Stanley, the third U.S. investment bank to
report financial results this week, said Wednesday second-quarter profit fell 60%
as continued weakness in key businesses reflected the ongoing credit crunch as
well as the falling real-estate market.
The company (MS) reported net income [...]
DOW JONES NEWSWIRES
American International Group Inc.’s (AIG) asset management unit announced a $65
million investment in Calyx Agro Ltd.
The equity investment will be funded primarily by AIG Brazil Special Situations
Fund II L.P. and Louis Dreyfus Commodities CA Holdings Ltd.
AIG Investments said Calyx is a venture sponsored by Louis Dreyfus Commodities to
acquire, develop, operate and sell agricultural [...]
Countrywide, New Vista Asset Management In Pact >CFC
Last Update: 4/25/2008 8:19:51 AM
DOW JONES NEWSWIRES
Countrywide Financial Corp. (CFC) and New Vista Asset Management are in a pact to
find qualified buyers for Countrywide’s real estate owned, or REO, properties.
Financial terms weren’t disclosed.
The Calabasas, Calif., mortgage provider said the program is designed to help
minimize the impact of foreclosures, [...]
ZURICH (Dow Jones)–UBS AG (UBS) is no longer at the very bottom, and is strong
enough to manage its risks and positions, Chief Executive Marcel Rohner said
Sunday in a newspaper interview.
“There are certain factors, such as the U.S. real estate market, which we can’t
influence. There we will see volatility,” Rohner told Swiss weekly
Sonntagszeitung.
But the bank is [...]
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