Movers: Wachovia, Wells Fargo, Citigroup, Aig - Businessweek wachovia ( wb ) and wells fargo ( wfc ) and wachovia sign definitive agreement whereby wfc will acquire wb in a whole-company transaction requiring no financial assistance from the fdic or any other government agency. under the agreement, wfc will ... www.businessweek.com
Aig Asset Sale To Halve Revenue aig , the beleaguered international insurance group, announced plans on friday for a massive sell-off of assets that, if successful, would reduce the company’s revenues by more than half. www.ft.com
Canadian Insurance Strong Like Moose don't expect fireworks in canada's financial sector for a while, but buy the insurers now while they're cheap. www.forbes.com
The Winemaker - Forbes happiness these days can be defined as a former banker turned winemaker who contemplates wall street's meltdown from a safe distance, while savoring a glass of his own cabernet franc. while seattle's washington mutual (nyse: wm - news - people ) was ... www.forbes.com
Savers `slice And Dice' Deposits As U.k. Banks Fail (update1) - Bloomberg oct. 3 (bloomberg) -- jean davis stands outside a branch of northern rock plc in the london suburb of golders green and wonders how she's going to keep her inheritance safe as banks topple across europe. the former public relations adviser, who ... www.bloomberg.com
Business Briefs: Consumer Delinquencies Up In Second Quarter washington — consumer loan delinquencies rose only slightly in the second quarter, a sign that the federal economic-stimulus package helped people pay off debt, the american bankers association said friday. www.star-telegram.com
Fdic Head Knows How To Cut A Deal washington — hundreds of people desperate to withdraw money lined up outside the branches of indymac bancorp after the california bank was seized in july by the federal deposit insurance corp. fdic officials were stunned. the bank now belonged to the federal government. www.montereyherald.com
Purchase Puts Citi In Prime Polk Position - The Ledger lakeland | citigroup is entering the florida bank business in a big way with its purchase of wachovia corp., the state's largest bank and a major player in polk county. with an estimated $1.2 billion in local deposits, wachovia frequently occupied ... www.theledger.com
Local Bankers: No Need To Panic - World Link a wall street sign hangs in front of the new york stock exchange tuesday in new york. stocks are opening higher but financial markets remained troubled a day after the house voted down a proposed $700 billion rescue plan for the financial sector. the ... www.theworldlink.com
Money-market Rates Climb To Records, Boe Relaxes Funding Rules oct. 3 (bloomberg) -- money-market rates jumped to records and the bank of england relaxed borrowing rules for financial institutions as ``extraordinary'' strains deepened the credit freeze. www.bloomberg.com
The Winemaker after almost two decades as a banker, rob sullivan set out to run his own business. now he crafts fine wines for fun and profit. www.forbes.com
Aig Asset Sale To Halve Revenue - Financial Times aig , the beleaguered international insurance group, announced plans on friday for a massive sell-off of assets that, if successful, would reduce the company’s revenues by more than half. edward liddy, who was installed as aig’s chief executive ... www.ft.com
Need To Know: Tnk-bp Resolves Dispute ... Tata Relocates ... Adili Up - Times Online britain’s services sector shrank at its fastest for at least 12 years last month, according to the cips/markit purchasing managers survey of its conditions. the headline index of activity fell to 46.0 last month, its lowest since the survey began ... business.timesonline.co.uk
Asian Money Rates Surge On Concern Bank Failures May Spread oct. 3 (bloomberg) -- asian banks' borrowing costs rose to the highest levels in at least nine months after the collapse of lenders in the u.s. and europe deepened a global credit freeze. www.bloomberg.com
Rahall: Bailout Is ‘vital’ americans needn’t fear great depression ii if the bailout collapses in congress, but rep. nick rahall says the legislation is “vital” to protect lines of credit so small businesses can meet payrolls and ordinary citizens can buy life’s necessities. www.register-herald.com
Money-market Rates Climb To Records, Boe Relaxes Funding Rules - Bloomberg oct. 3 (bloomberg) -- money-market rates jumped to records and the bank of england relaxed borrowing rules for financial institutions as ``extraordinary'' strains deepened the credit freeze. the london interbank offered rate , or libor, that banks ... www.bloomberg.com
One Last Time On Credit Crisis - Napa Valley Register 11 a.m. one last time on the credit crisis, then i promise to stop, but i have to post this. i received this today from a reliable source, this was written by a staffer for a congressman in washington to my friend and i am certain it is legit. take ... www.napavalleyregister.com
Portrayed As Middle Class, Biden Benifited From Perks for the millions of voters getting to know him, sen. joseph r. biden jr., the democratic vice-presidential candidate, portrays himself at times as an average guy who takes the trai news.postbulletin.com
Tsx Drops To Lowest Level In More Than 2 Years the toronto stock exchange was battered by falling commodity prices thursday, which pulled down the index by nearly 814 points to its lowest level in more than two years. winnipeg.ctv.ca
Fred W. Frailey, Editor, - Washington Post while nancy pelosi is blaming our financial meltdown on republicans, and republicans are getting even by voting down the $700-billion financial-bailout package -- and while panicked investors react to the congressional backstabbing by sending the dow ... www.washingtonpost.com