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Merrill Lynch woes stir Bloomberg speculation

Merrill Lynch & Co Inc. may look to sell its 20 percent stake in Bloomberg LP to raise capital after writing down $8.4 billion of assets last quarter, some investors have said.

Merrill could have Q4 $4.5 bln write-down: Goldman

Merrill Lynch & Co Inc, which stunned Wall Street with $8.4 billion in write-downs in the third quarter, could have to write down another $4.5 billion in the current quarter, a Goldman Sachs analyst's report said on Thursday.

ICBC to buy Standard Bank stake

China's biggest lender ICBC is to buy 20 percent of South Africa's Standard Bank for 36.67 billion rand ($5.6 billion) in cash, in the biggest foreign investment yet in Africa.

Bank of America cuts 3,000 jobs

Bank of America Corp on Wednesday said it planned to eliminate 3,000 jobs, and shook up its corporate and investment bank after a dismal quarter at that unit led to a 32 percent drop in overall profit.The second-largest U.S. bank said a majority of the cuts will be in corporate and investment banking, and the rest elsewhere. The cuts amount to 1.5 percent of the bank's 198,000-person workforce.

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Intel results boost chip shares; IBM falls

Intel Corp shares rose 4.3 percent on Wednesday as its better-than-expected quarterly report helped boost other microchip shares, even as fellow technology heavyweight International Business Machines Corp posted lower hardware sales.

Alibaba.com plans Hong Kong IPO

China's biggest e-commerce firm, Alibaba.com Ltd, plans to raise as much as US$1.32 billion after setting a price range for its Hong Kong initial public offering, sources familiar with the deal said on Monday.

Nine banks to buy stake in Thomson's TradeWeb

Nine banks have agreed to pay $180 million for a minority stake in Thomson Corp's TradeWeb bond trading platform, and will invest an additional $100 million in a bid to expand the service they sold in 2004.

Infosys profit up 18 pct, shares plunge on outlook

Infosys Technologies Ltd, India's No 2 software services exporter, said quarterly profit rose by nearly a fifth but its shares tumbled 7 percent on market concerns over the rapidly rising rupee and the risk of a U.S. downturn.

Oil Rises on Supply Concerns

Oil prices jumped on Wednesday as expectations for tighter fuel inventories surfaced as the Norther Hemisphere moves into the winter season.

Dow and S&P finish at records after soothing Fed

The Dow and S&P 500 jumped to close at records on Tuesday after minutes from the Federal Reserve's last meeting showed inflation expectations were contained, leaving open the question of whether another rate cut is near.

Wall St inches up on profit hopes

Stocks inched higher on Tuesday as investors bet that quarterly earnings reports, which begin later on Tuesday, would beat estimates and brokerages raised price targets on some of the biggest technology stocks.

JC Flowers, Cerberus eyeing Northern Rock: sources

Northern Rock's advisers are in talks with U.S. buyout firm JC Flowers over a rescue bid for the stricken UK mortgage bank, as U.S. firm Cerberus also considers a move, sources familiar with the matter said.

Banks confined if credit woes persist

Banks will likely be reluctant to make new business loans if tight credit conditions persist, hampering capital spending and the economy in the coming months, according to Goldman Sachs.

Citigroup says quarterly profit to plunge 60 pct

Citigroup, the largest U.S. bank by market value, said on Monday its third-quarter net income will drop 60 percent on losses and writedowns stemming from subprime and leveraged loan woes, fixed income trading, as well as weakness in its consumer business.

Takeover talk boosts shares in UK's Benfield

Shares in British reinsurance broker Benfield rose up to 13 percent on Friday after a report it had received an unsuccessful 700 million pound ($1.42 billion) bid approach from Goldman Sachs revived takeover speculation.

Merrill, Citi buy into Indian commodities bourse

Citigroup and Merrill Lynch have bought 5 percent stakes in India's top commodities exchange, valuing it at up to $1.1 billion, or more than the Bombay Stock Exchange which sold stakes earlier this year.

Merrill faces $1.5 billion fixed-income loss: analyst

Merrill Lynch & Co Inc faces a $1.5 billion third-quarter loss on its fixed-income business, driven by $4 billion in asset write-downs connected to leveraged loans and mortgages, a Goldman Sachs analyst said on Wednesday.

UK hires adviser on Northern Rock as options narrow

Britain's government has appointed U.S. investment bank Goldman Sachs to advise it on Northern Rock, a source close to the Treasury said, as the stricken bank told politicians its business was sound.

Harman warns on quarterly profit after deal sours

Harman International Industries Inc, whose $8 billion sale fell apart last week, warned on Monday that quarterly profit would be less than half what Wall Street expected, sending its shares down as much as 8 percent.

Deutsche Bank debt hit may be $2.4 bln

Deutsche Bank's profit could be hit by up to 1.7 billion euros ($2.4 billion) due to loans that have dwindled in value as a result of the credit market crisis, sources familiar with the situation said.

Deutsche Bank debt hit may be $2.4 bln: source

Three hedge funds plan Northern Rock raid: paper

Three leading hedge funds are planning a break-up of beleaguered British bank Northern Rock , according to a newspaper report on Sunday.

KKR, Goldman back out of $8 billion Harman deal

Two private-equity firms have called off an $8 billion deal to buy high-end audio company Harman International Industries.

Harman buyers concerned about deal: source

Kohlberg Kravis Roberts & Co LP and Goldman Sachs Group Inc.'s private equity arm are worried about certain financial conditions inside Harman International Industries Inc, concerns that could threaten the $8 billion deal, a source said on Friday.

Buyers souring on $8 billion buyout of Harman: report

The private equity buyers of Harman International Industries Inc are balking at completing the $8 billion purchase of the audio-equipment maker, the Wall Street Journal reported in its online edition on Friday, citing people familiar with the matter.

Goldman tops views, Bear falls short amid turmoil

Two Wall Street investment banks had dramatically different success in weathering summer market turbulence as results at Goldman Sachs Group Inc easily exceeded expectations, while those at Bear Stearns Cos Inc fell far short.