Credit Suisse will pay $600 million to settle subprime case, says insurer MBIAThe agreement follows a ruling by a New York judge in favor of MBIA in the case concerning Credit Suisse's representations to the company, ...
Five things to know about the Europa League finalSevilla is relatively new here, never reaching a European final until the 2006 UEFA Cup. However, the Spanish club won it twice after that.
- New York broadens mortgage probe
New York has broadened its probe of the US mortgage industry , requesting information from at least five financial institutions that act as...
- Citi, Merrill set for more writedowns
Citigroup, Merrill Lynch and UBS may post further writedowns of $10 billion on their debt holdings after the two biggest bond insurers were...
- US stocks wobble as financials weigh on sentiment
Wall Street has ended a wobbly session with mixed results Wednesday as concerns about the financial sector eroded enthusiasm over a decline...
- Buffett says bought $4 bln of auction-rate debt
Warren Buffett on Saturday said his Berkshire Hathaway holding company bought $4 billion of auction-rate securities during the market's rec...
- Warburg raises $15 bn for largest fund
Warburg Pincus, the private equity firm that bought a stake in unprofitable insurer MBIA, raised $15 billion for its biggest fund just as c...
- Buffett's pay stays at $100,000
Warren Buffett, the world’s richest man, took a $100,000 salary for the 27th consecutive year in 2007 as profit surged 20% at his Berkshire...
- Insurers face another 'Katrina'
The collapse of the subprime mortgage market will lead to record losses for insurance companies, overtaking Hurricane Katrina, the worst na...
- Worst may not be over for Lehman, Goldman
Variable interest entities, or VIEs, may add $88 bn in potential losses to the two securities giants as they struggle to come out of the su...
- ANZ Bank: 2008 earnings likely to be hurt by US crisis
Australia & New Zealand Banking Group Ltd, Australia's third-largest lender by market capitalization, warned on Monday its earnings are lik...
- Banks may face additional writedowns of over $200 bn
The world’s banks ‘remain at risk’ of up to $203 billion in additional writedowns, largely because the bond insurance crisis could worsen, ...
- Buffett offers to assume muni liabilities
Billionaire investor Warren Buffett said he offered to assume responsibility for $800 billion of municipal bonds guaranteed by MBIA, Ambac ...
- Uncertainty around bond insurers next storm after Subprime
As bad news about the financial system piles up, trust the pillar of investing is being buried.
- Berkshire Hathaway opening bond insurance business
Town governments, school districts and other municipalities looking to borrow money got a new option when trying to insure their bonds: bil...
- US-backed SuperSIV plan
Citigroup, Bank of America, and JPMorgan Chase abandoned a US Treasury-sponsored plan to buy assets from cash-strapped structured investmen...
- Dollar slips in Asia on subprime worries
The dollar fell back against the euro in Asian trade on Friday as news of a big loss at investment bank Bear Stearns prompted fresh concern...