Member 2544


Citigroup aims to shed $400 billion of assets (Reuters)

10-05-2008 04h44
Reuters - Citigroup Inc said on Friday it plans to shed $400 billion of assets within three years and boost revenue by up to 10 percent annually, in a bid to restore profitability after huge losses tied to flagging mortgage and credit markets.

AIG's loss and record oil sour mood on Wall St (Reuters)

10-05-2008 05h30
Reuters - Stocks fell on Friday as the price of oil set another record and concerns about the financial sector flared up again after American International Group Inc reported a massive loss.

AIG sees no signs of mortgage asset market rebound yet (Reuters)

10-05-2008 03h43
Reuters - American International Group , after disappointing with a worse-than-expected loss on Thursday, did little to buoy investor spirits on Friday, telling shareholders it does not yet see signs of a rebound in the market for mortgage assets, which have cost it dearly over the past two quarters.

Oil hits record $126 on supply worry (Reuters)

10-05-2008 04h45
Reuters - Oil jumped to a record above $126 a barrel on Friday, extending gains to more than 11 percent since the start of the month on fuel supply concerns and a rush of speculator buying.

Countrywide falls on worry over B of A merger (Reuters)

10-05-2008 04h39
Reuters - Countrywide Financial Corp shares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender.
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