Merrill Lynch agrees to $50 billion bid from B of A
Wary of the global financial storm, firm accepts $29-share all-stock proposal
By MarketWatch
Last Update: 9/15/2008 9:49:00 AM
NEW YORK (MarketWatch) — Merrill Lynch & Co., navigating in a global financial
storm, agreed to be bought by Bank of America Corp. in an all-stock deal the
companies valued at $50 [...]
Fed sets initiatives to limit market disruption
Market increases bets on a rate cut; bank watchers wait to see market reaction
By Greg Robb, MarketWatch
Last Update: 9/15/2008 10:10:00 AM
WASHINGTON (MarketWatch) — With Wall Street scrambling to contain a financial
crisis, the Federal Reserve on Monday assembled a series of emergency tools to
head off panic, expanding its loan programs [...]
NEW YORK (MarketWatch) - Gold futures rose Monday for a second session, rallying
to near $790 an ounce at one point, as the deepening crisis on Wall Street raised
demand for the safe-haven investment. Gold for December delivery rose $12.30, or
1.6%, to $776.80 an ounce in early electronic trading. It surged $25 overnight to
$789.50. Wall Street witnessed [...]
Talks Over Lehman Resume, Barclays Seen Leading Contender
Last Update: 9/14/2008 11:22:57 AM
NEW YORK (Dow Jones)–Banking executives and federal regulators Sunday resumed
talks at the New York Federal Reserve over the fate of Lehman Brothers (LEH),
according to a spokesman for the New York Fed.
Negotiations have been held since Friday over how to deal with Lehman, the U.S.’s
fourth-largest [...]
“…The reason why Lehman is having a hard time to find a buyer is that it is most likely insolvent. If you had to mark to market the value of it illiquid and toxic assets (the $40 billion of commercial real estate assets, its remaining residential MBS and CDOs, its holdings of real estate private [...]
B. of A. to settle auction-rate securities probes
By Alistair Barr, MarketWatch
Last Update: 9/5/2008 12:59:00 PM
SAN FRANCISCO (MarketWatch) — Bank of America Corp. said Friday that it is close
to settling probes into its actions in the defunct auction-rate securities
market.
The bank has been working for nearly a month with the New York attorney general’s
office and the Massachusetts [...]
Bank of America Huddles NFL Fans and Challenges Them To Now Prove It
Contest tests the limits of fans’ loyalty as a celebration of 2008-2009 NFL
season kick-off
NEW YORK, Sept 03, 2008 /PRNewswire via COMTEX/ — As the Official Bank of the
National Football League, Bank of America is celebrating the 2008 season kick-off
by issuing the Now Prove [...]
FOCUS: China M&A Seen Robust Despite New Antitrust Laws
Last Update: 9/2/2008 12:58:41 PM
By Marietta Cauchi
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)–The surging Chinese M&A market faces new barriers but is
unlikely to stall as foreign buyers remain attracted by the region’s growth,
observers say.
Over the last year or so international companies [...]
China Construction Bank Cuts Fannie, Freddie Bond, MBS Hldgs
Last Update: 8/25/2008 5:52:47 AM
BEIJING (Dow Jones)–China Construction Bank Corp. (0939.HK) said Monday it had
cut its holdings of bonds and mortgage-backed securities related to Fannie Mae
(FNM) and Freddie Mac (FRE) to just above US$2 billion by the end of July from
US$3.2 billion at the end of June.
CCB [...]
Buffett’s Berkshire Nearly Doubles Union Pacific Stake In 2Q
Last Update: 8/15/2008 10:15:46 AM
By Sam Mamudi
The investment vehicle of legendary investor Warren Buffett nearly doubled its
stake in transport outfit Union Pacific Corp. (UNP) in the second quarter.
Berkshire Hathaway Inc. (BRKA, BRKB) also added stakes in Bank of America Corp.
(BAC), Lowe’s Cos. (LOW) [...]
Bankruptcy Judge Rejects Countrywide Settlement Offer-Reuters
Last Update: 8/15/2008 11:39:44 AM
DOW JONES NEWSWIRES
A $325,000 payment proposal by Countrywide Financial Corp. to settle claims over
its lending practices was rejected Thursday by a federal bankruptcy judge,
Reuters reported. The offer by the housing lender, now part of Bank of America
Corp. (BAC), made to a bankruptcy [...]
NEW YORK (MarketWatch)– Republic Services Inc. said Monday it has secured an
additional $1.75 billion in financing to help pay for a proposed merger with
Allied Waste Industries Inc. . The Fort Lauderdale, Fla.-based trash hauler said
Bank of America Securities LLC and J.P. Morgan Inc. have arranged a syndicate of
lenders to provide the new funding. The new [...]
Buffet’s Berkshire doubles Union Pacific stake
By Sam Mamudi, MarketWatch
Last Update: 8/15/2008 10:03:00 AM
NEW YORK (MarketWatch) — The investment vehicle of legendary investor Warren
Buffet increased its stake in transport outfit Union Pacific Corp. by almost
double in the second quarter.
Berkshire Hathaway also added stakes in Bank of America Corp. (BAC), Lowe’s Cos.
(LOW) and NRG Energy Inc. (NRG), [...]
Bank Of America On Two-Day Slide, Down On Mortgage, Legal Woes
Last Update: 8/13/2008 2:31:07 PM
By Marshall Eckblad
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)–Shares of Bank of America Corp. (BAC) are having a bad
week.
And it’s only Wednesday.
Investors have headed for Bank of America’s exits over the last few days, pushing
the Charlotte bank’s shares [...]
Four US Banks To Launch Covered-Bond Mkt Programs
Last Update: 7/29/2008 7:35:00 AM
(This article was originally published Monday)
By Meena Thiruvengadam
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)–Four of the U.S.’s leading banks are joining a government
effort to promote the development of a covered-bond market.
Bank of America Corp. (BAC), Citigroup Inc. (C), JPMorgan Chase & [...]
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