Market recap. U.S. stock and bond markets dropped to their lowest levels since the economic crisis began, on new concerns about rising defaults and the financial system's health. The stock market fell to a 5.5 year low, led by banks and financial institutions. Markets are now down 43.5% from an all-time high reached just over a year ago, and nearly all the gains from the last bull market (from...
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General Motors joins other global vehicle manufacturers in cutting production as the global downturn hits sales.
Increasingly, states have sold Garvee (grant-anticipation revenue vehicle) bonds to raise funds for infrastructure projects. ...
Embattled U.S. banking giant Citigroup Inc. (C) has agreed to buy back $17.4 billion of assets remaining in a series of funds known as structured investment vehicles, or SIVs, after it previously agreed to guarantee the liabilities in those funds. In a separate story today (Wednesday), Wall Street banking analyst David Trone said that he expects higher credit costs and additional losses to forc...
The collapse of AIG shares might not be something former CEO Greenberg ever wished for, but it is generating big payoffs on two bets his investment vehicle made three years ago.
Citigroup's credit-default swap spreads widen and its shares fall after the bank takes on more than $17 billion in assets from structured investment vehicles and shuts another hedge fund.
Filed under: Industry, Ford Motor (F), General Motors (GM), RecessionThe first rule of public relations is never get in a fight with anyone who buys ink by the barrel. And a major tenet of investing is don't take a stock position in conflict with Congressional policy, once Congress has committed to a program. The wisdom behind the second adage, like the first, is obvious enough: Congress has th...
Citigroup's credit-default swap spreads widen and its shares fall after the bank takes on more than $17 billion in assets from structured investment vehicles and shuts another hedge fund.
Citigroup Inc., in 2007, spent considerable effort in trying to launch what came to be known as “The Entity,” a giant Golemesque structure that would gobble up problematic assets known as structured investment vehicles. Citigroup has become that Entity, and markets don’t like it. The company’s equity and debt have been hit after it said it would take on $17 billion of th...
LOS ANGELES (AP) -- Chrysler and General Motors are still showing off their newest vehicles at the Los Angeles Auto Show, but their displays were noticeably quiet Wednesday while Asian and European companies unveiled new models that will likely chip away at the U.S. market share....