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BarCap says August profitable, growth goals intact

Britain's Barclays said its investment bank arm traded profitably last month and its prospects remain strong, despite the credit market turmoil, but the bank's offer for ABN AMRO could be beaten.

Refinery work could stoke heating oil bills

Consumers may face high heating bills this winter if refinery outages prevent companies from rebuilding inventories before the cold sets in.

Lehman to fire another 850 workers in mortgages

Lehman Brothers Holdings Inc said on Thursday it will fire another 850 workers, or about 3 percent of its work force, as it scales back its mortgage lending efforts globally.

Credit concerns drive Wall Street lower

U.S. stocks fell on Thursday on mounting concerns that credit market upheaval will erode bank profits and hold back consumer spending, but optimism about corporate investment helped lift technology shares.

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Housing, growth worries trip up Wall Street

U.S. stocks fell on Monday after data showed the number of unsold homes reached its highest level in more than 15 years in July, adding to concerns about the housing market and consumer spending. Bank shares fell on nagging credit worries after Goldman Sachs slashed its earnings forcast on Lehman Brothers, Bear Stearns and Morgan Stanley.

Countrywide shares drop amid lowered estimate

Shares of Countrywide Financial Corp dropped as much as 7 percent on Monday after analysts slashed earnings estimates for the largest U.S. mortgage lender and a report showed existing home sales fell.

Sprint, Samsung bet on WiMax high-speed technology

Sprint Nextel Corp, which recently said it would spend up to $5 billion on a mobile high-speed wireless standard by 2010, said it had awarded the New York WiMax market to Samsung Electronics Co. Ltd.

Home Depot to cut unit sale price by $1.8 billion: sources

Home Depot Inc agreed to cut the price in its supply division sale to buyout firms by $1.8 billion, sources said on Sunday, as a housing market drop and a credit crunch forced all sides to renegotiate.

Wall Street results face scrutiny for summer meltdown

An end to Wall Street's streak of rising profits in the third quarter is built into investor expectations, but the top brokerages' results will still face scrutiny next month to see just how they value assets bloodied by the summer market meltdown.

Merrill could face big subprime write down

Profit at Merrill Lynch & Co. Inc. could take a big hit if the U.S. brokerage heavyweight cuts the value on nearly $1 billion in subprime lender assets it bought just eight months ago.

Home Depot may accept $1.2 bln less for unit: WSJ

Home Depot is close to accepting about $1.2 billion less for the sale of its wholesale distribution business to three private equity firms, the Wall Street Journal reported on Thursday.

Countrywide seen leading financials higher

Countrywide Financial Corp was expected to lead financial shares higher on Thursday after receiving a $2 billion injection from Bank of America Corp, easing fears the largest U.S. mortgage lender could go bankrupt and boosting optimism the sector will weather a credit shortage.

Bear Stearns in talks to buy Ford unit in India

Bear, Stearns & Co. Inc. is in talks to buy a Ford Motor Co. financing unit in India as a way to secure an additional license to beef up what it can offer clients in that expanding market.

Citi, Lehman, others start trading platform

Five banks, including Citigroup, Lehman Brothers Holdings Inc., and Merrill Lynch & Co. Inc., said on Tuesday they were setting up a trading platform for privately offered stocks, seeking to tap the growing market for non-public shares.

Volatile but valuable

On the heels of a crisis, investment bank shares are looking cheap. Some say it's a great time to buy.

Stocks surge despite credit concerns

Stocks rallied late in the session on Thursday for the second day as enthusiasm about strong profits offset lingering credit concerns, although a modest flight-to-quality bid gave bond prices a slight lift.

China's trade surplus soars to record in June

China posted a record trade surplus of $26.9 billion in June as exporters rushed shipments ahead of tax rebate cuts, handing more ammunition to critics who say Beijing's weak currency gives it an unfair trade advantage.

Carlyle to acquire Sequa for $2 billion

Private equity firm Carlyle Group said on Monday it would buy aircraft and auto parts maker Sequa Corp. for $2 billion.

Office Depot shares off on sales warning

Shares of Office Depot Inc. fell nearly 5 percent on Friday, a day after the office supplies retailer said a soft U.S. economy will hurt its domestic sales and quarterly earnings.

Wall Street stumbles as subprime worries reemerge

Stocks tumbled on Friday, wrapping up their worst week since a global sell-off in February amid fears that trouble at two Bear Stearns hedge funds may signal worse problems lie ahead for credit markets.

Yen, Swiss franc suffer as high-yielders gain

The dollar gained against the Swiss franc on Thursday and approached a four-and-a-half-year high against the yen as investors continued to punish low-yielding currencies in a quest for higher returns.

Morgan Stanley profit beats estimates

Morgan Stanley on Wednesday said its second-quarter profit rose 40 percent, trouncing expectations as most of its trading and investment-banking businesses achieved record results.

Lehman Brothers rising as banking power: Barron's

Lehman Brothers's lagging stock price offers the chance to buy into a rising power as it seeks to join the company of larger investment banks like Goldman Sachs and Morgan Stanley, Barron's reported in its June 18 edition.

Goldman and B. Stearn's Mortgage Woes

Goldman Sachs Group Inc. and Bear Stearns Cos. Inc. are learning that it's a tough time to be in the U.S. mortgage business. Both banks suffered from rising home buyer defaults in the latest quarter.

Goldman Sachs shares fall as profit barely rises

Goldman Sachs Group Inc. barely managed to show a rise in quarterly profit as a sharp drop in fixed income trading revenue offset record investment banking fees and strong equities income.

Bear Stearns net drops on mortgage woes, charge

Investment bank Bear Stearns Cos. Inc., one of the nation's largest mortgage bond underwriters, said on Thursday quarterly earnings fell by a third as trouble in the mortgage market hurt bond trading revenue and it wrote down assets at a stock trading venture.

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