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A battle broke out Friday for control of Wachovia as Wells Fargo agreed to pay $14.8 billion for the struggling bank, while Citigroup and federal regulators insisted that Citi's earlier and lower-priced takeover offer go forward. ...more
October 4, 2008
The developer of The Towers of Channelside, a pair of 29-story luxury condominiums that help define downtown's skyline, has accomplished a rare feat for a condo builder in this economy. ...more
October 2, 2008
Ailing bank Washington Mutual Inc. appeared headed toward a sale Wednesday after a major investor removed a potential stumbling block and nervous banking regulators began approaching the most logical buyers. ...more
September 18, 2008
Obamanomics Why it is that no one is mentioning that one of Sen. Barack Obama's chief economic advisers is Rubert E. Rubin, former partner in the failed Lehman Brothers financial institution? Until recently, he was a board member of Ford, which has been suffering severe losses, and chairman of the executive committee of Citigroup, another bank in financial trouble. ...more
September 18, 2008
JPMorgan Chase & Co. and Morgan Stanley on Thursday became the latest banks to reach settlements with New York Attorney General Andrew Cuomo and other regulators as part of an investigation into the collapse of the auction-rate securities market. ...more
August 15, 2008
Never mind. Or, in the words of Merrill Lynch & Co. Chief Executive Officer John Thain, "Our clients have been caught in an unprecedented liquidity crisis. We are solving it by giving them the option of selling their positions back to us." ...more
August 13, 2008
As Americans see their home prices plunge, bills climb and credit lines shrink, they are swiping their credit cards less and their debit cards more - and Visa and MasterCard are still raking in the fees. ...more
August 1, 2008
Bank of America Corp. has become the latest in a string of big banks whose second-quarter earnings, while hurting from the impact of the credit crisis, still managed to beat Wall Street expectations. ...more
July 22, 2008
For 15 years, Sharon Kearney O'Loughlin traveled into Manhattan every day from her Long Island, N.Y., home. The commute, door to door, was 21/2 hours each way. ...more
June 21, 2008
NATION Tomato Inquiry Continues Parts of Florida and Mexico were supplying "the vast majority" of tomatoes sold when April's salmonella outbreak began and remain leading suspects, the Food and Drug Administration said Friday. The hunt hasn't been narrowed to just those two places, said David Acheson, the agency's food safety chief. ...more
June 14, 2008
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