Merrill Lynch has discovered an ”irregularity” in its London trading positions amid reports that a trader had been suspended over a -million loss.
The Bush administration said on Friday it could be willing to provide emergency aid to the teetering US car industry
Who’s to blame? Indebted Americans? Alan Greenspan? Slack credit rating agencies? Greedy and overpaid chief executives?
United States stocks were in a dramatic sell-off on Monday morning amid a widening credit crisis.
Merrill Lynch has agreed to sell its 20% stake in Bloomberg for ,5bn — a deal which provided a glimpse of the fortune amassed by Michael Bloomberg.
Asian stocks tumbled on Monday followed by losses across European and United States markets on concern over company earnings and increasing gloom about prospects for the global…
Gold, oil, diamonds, metals: commodities have been booming. But as prices hit record highs, is the bubble about to burst? Turmoil in financial markets has, some analysts say,…
Société Générale launched a discounted â,¬5,5-billion capital increase on Monday to prop up its finances and heal scars from the world’s biggest rogue trading scandal. The…
Société Générale was braced for fresh criticism from France’s top central banker on Tuesday as the man the bank blames for its record trading losses spoke out against his former…
Fresh write-offs at big European and Japanese banks on Wednesday drove investors’ attention firmly back onto the credit crunch after days gazing at Société Générale’s stunning…
Jérôme Kerviel, a shy and introverted young city trader, lived on a tree-lined street in Neuilly-sur-Seine, the wealthy Paris suburb dubbed Sarkozyland in honour of its famous…
An electricity shortage that has led to frequent power disruptions in South Africa could chase away investors, denting growth and portfolio inflows and weakening the rand.…
German engineer Michael Bosch is not fazed by the lack of a gym and other creature comforts at his budget hotel in a converted Shanghai office building. He’s stayed at such…
Oil prices of near per barrel caused alarm in consuming countries in 2007, and analysts forecast another tense crude market next year with triple-figure records a real prospect.…
Three British bankers whose extradition to the United States caused a political storm last year are on the brink of a plea agreement that could involve an admission of wrongdoing…
Shareholders in ailing British bank Northern Rock could be left with nothing and the Bank of England could still be funding the lender in three years. A briefing memorandum sent…
Citigroup chief executive Charles Prince plans to resign this weekend, the Wall Street Journal said on Friday, as the widening subprime mortgage crisis brings to an end the reign…
Merrill Lynch parted company on Tuesdya with its chief executive, Stan O’Neal, leaving the investment bank’s leadership in a state of limbo and prompting unease on Wall Street.…
The head of the Wall Street investment bank Merrill Lynch was on Monday night negotiating a severance package tipped to be as high as -million after a risky strategy of betting…
As Merrill Lynch’s board deliberates the fate of chairperson and chief executive Stan O’Neal, a leading contender for the job on Sunday said he is not aware of being a candidate.…
