Business Times Asiaone (Free subscription) | 08/28/2008
(NEW YORK) Merrill Lynch, Wachovia Corp, Lehman Brothers and the rest of the US finance industry are about to find out how expensive credit has become.
ETF Trends (Free subscription) | 08/27/2008
Transportation stocks are having trouble truckin’ on, as demand is low, but the Dow Jones Transportation Average (IYT) exchange traded fund’s (ETF) low concentration in trucking should insulate it. Wachovia Corp. cut its ratings on the sector on the possibility that demand is slowing, reports Jeff Kearns for Bloomberg. The downgrade is telling, as one [...]
Risk Moment RES (Free subscription) | 08/22/2008
Worst Time to Sell Fund Managers Since ‘02 Impairs Lehman, Wachovia Plans Lehman Brothers Holdings Inc., the fourth-largest U.S. securities firm, is exploring the sale of all or part of its asset-management unit to raise money. So are Wachovia Corp., the fourth-largest U.S. bank, and regional lenders Fifth Third Bancorp and National City Corp.
Banking Business Review (Free subscription) | 08/22/2008
Wachovia Corporation, a financial holding company, is planning to establish its new full-service retail financial center in downtown Los Angeles, US.
EmailWire.Com (Free subscription) | 08/22/2008
(EMAILWIRE.COM, August 22, 2008 ) DALLAS, Texas - Today's Trade Alerts include: Freddie Mac (FRE), Fannie Mae (FNM), Thornburg Mortgage Inc. (TMA), Washington Mutual Inc. (WM), Bank of America Corporation (BAC) and Wachovia Corporation (WB). Freddie Mac (FRE) Trade Alert shares climbed 2.53%...
Market Watch (Free subscription) | 08/20/2008
LONDON (MarketWatch) -- Wachovia Corp. is selling around $40 million of land and construction loans to a joint venture headed by LandCap Partners in what could be an early sign investors are starting to pounce on loans in the troubled sector, The Wall Street Journal reported Wednesday. LandCap is a residential-land company run by Jeffrey Gault. The loans, which have a book value of $75 million to...
Banking Times: Daily Banking News (Free subscription) | 08/19/2008
Evergreen Investments, the investment management brand of Wachovia Corporation, has announced a range of appointments in its municipal bond group. Mathew Kiselak, portfolio manager, is to take on responsibility for leading Evergreen’s municipal bond group. He brings more than 20 years of experience to his new job, and has been with Evergreen or its predecessors for the [...]
The Earth Times Online Newspaper (Free subscription) | 08/15/2008
New York - Wachovia Corp reached a multibillion-dollar settlement with regulators and governments on Friday, joining the banks settling allegations they improperly urged customers to buy a type of bond that fell apart in conjunction with the subprime...
Market Watch (Free subscription) | 08/15/2008
State and federal regulators say that Wachovia Corp. has agreed to a preliminary settlement related to the sale of roughly $9 billion in auction-rate securities, the market for which collapsed earlier this year.
Market Watch (Free subscription) | 08/15/2008
State and federal regulators say Wachovia Corp. has agreed to a preliminary settlement related to sales of auction-rate securities, the market for which collapsed earlier this year.
Market Watch (Free subscription) | 08/15/2008
BOSTON (MarketWatch) -- The Securities and Exchange Commission on Friday said Wachovia Corp. has agreed to a settlement related to sales of auction-rate securities, the market for which collapsed earlier this year. Under the settlement, Wachovia will offer to purchase roughly $5.7 billion of auction-rate securities held by individual investors, small businesses and charitable organizations, the SEC...
Market Watch (Free subscription) | 08/15/2008
BOSTON (MarketWatch) -- BluePoint Re Ltd., a unit of banking giant Wachovia Corp. , is being liquidated in Bermuda and is seeking protection from a U.S. court to protect its assets, The Wall Street Journal reported Friday. BluePoint was hit by higher defaults on mortgage securities and ratings downgrades, according to the story. Wachovia shares were up 3% in premarket action Friday morning. Market...
Calculated Risk (Free subscription) | 08/14/2008
From Bloomberg: Wachovia's BluePoint Insurance Unit Files Bankruptcy Wachovia Corp.'s BluePoint Re Ltd. unit, which insures structured finance and municipal transactions, filed for bankruptcy protection, citing defaults on securitized mortgages.This is a small reinsurer, but it's interesting that Wachovia has decided not to provide additional funding.
Examiner (Free subscription) | 08/14/2008
Wachovia Corp. is close to agreeing to buy back $8 billion of auction-rate securities and pay fines to settle charges it misled investors about the risks, according to a person close to the negotiations.
kansascity.com (Free subscription) | 08/14/2008
Wachovia Corp. is close to agreeing to buy back $8 billion of auction-rate securities and pay fines to settle charges it misled investors about the risks, according to a person close to the negotiations.
