Jun 1, 2009 0
GM and CitiGroup removed from DOW
The Dow Jones industrial average is the latest Wall Street institution to be reshaped by the financial crisis. Continue reading GM and CitiGroup removed from DOW
Apr 28, 2009 0
Citigroup and Bank of America need more capital after stress test
NEW YORK (Reuters) – U.S. regulators are talking to Citigroup Inc about its capital levels after stress testing the bank, people familiar with the matter said, while the Wall Street Journal reported that Bank of America Corp may need billions in fresh capital.
Continue reading Citigroup and Bank of America need more capital after stress test
Mar 24, 2009 0
US stocks rally. A recap.
Finally, a bit of good news from the forefront.
U.S. stocks rallied, capping the market’s steepest two-week gain since 1938, as investors speculated the Obama administration’s plan to rid banks of toxic assets will spur growth and investor Mark Mobius said a new bull market has begun. Treasuries and the dollar fell.
Bank of America Corp. and Citigroup Inc. both soared at least 19 percent as the U.S. Treasury said it will finance as much as $1 trillion in purchases of distressed assets. Exxon Mobil Corp. and Chevron Corp. jumped more than 6.7 percent after oil rose to an almost four-month high. The Standard & Poor’s 500 Index extended its rebound from a 12-year closing low on March 9 to 22 percent as all 10 of its main industry groups advanced.
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