01 Feb 2005 05:18 PM

Credit Suisse First Boston wishes to get rid of its LBO unit, DLJ Merchant Banking Partners, although these plans may be adversely affected by the discord among management over the pay for the partners and management

27 Jan 2005 04:57 PM

U.S. 30-year fixed-rate mortgage fell to 5.66% this week, from 5.67% last week, according to Freddie Mac. The 1-year ARM rose to 4.18% from 4.11% in the previous week.

26 Jan 2005 08:11 AM

Mortgage applications fell 3.6% to 658.1 for the week ended Jan. 21. On a seasonally adjusted basis, the MBA’s purchase index fell 2.0% to 439.0. The MBA’s seasonally adjusted index of refinancing applications declined 5.7% to 1,932.8. Fixed

25 Jan 2005 07:34 PM

UBS AG intends to raise its investment in the Chinese stock markets to $1 billion. Above the currently negotiated $800 million quota allowed by China’s regulators, says the Swiss investment bank. UBS

25 Jan 2005 05:35 PM

Japan’s leading “city banks” sharply reduced their bond exposure selling a net worth of Y2,170 billion in yen bonds in December, mostly government bonds (JGBs), says the Japan Securities Dealers’ Association. Analysts believe that the sale of the largest amount in this fiscal year is explained by profit-taking motives. John

25 Jan 2005 02:13 PM

Germany’s financial regulator BaFin found Citigroup guilty of market manipulation referring the case of the group’s bond trade in August 2004 to the public criminal prosecutor in Frankfurt, which could potentially lead to

25 Jan 2005 09:15 AM

THE BANK OF CANADA LEFT ITS MAIN OVERNIGHT INTEREST RATE AT 2.5%

22 Jan 2005 08:52 AM

The Chinese authorities arrested several officials and financiers on charges of fraud scheme that cost the largest creditor of the Chinese business, the Industrial & Commercial Bank of China, $900 million. Businessman Fan Minchan was using forged documents to obtain loans in one of the ICBC’s

20 Jan 2005 08:42 AM

Citigroup Inc., the world’s biggest financial-services company, said today its fourth-quarter profit rose 12% to a record level, helped by growth in its consumer, investment and banking business. Net income rallied to $5.32 billion, or $1.02 a share, from $4.76 billion, or 91 cents, in the previous year. Analysts

19 Jan 2005 08:37 AM

Mortgage applications rallied 16.2% in the week ended Jan. 14, according to the Mortgage Bankers Association. The 30-year mortgage rates fell to 5.64% from 5.70%.

19 Jan 2005 08:32 AM

JPMorgan Chase said on Wednesday its fourth quarter earnings fell to $1.7 billion, or 46 cents per share, from $1.9 billion, or 89 cents per share, in the previous year. Excluding charges, the bank earned $2.3 billion, or $0.64 per share. Analysts were expecting $0.70. After the release of the report shares of the bank fell more than 1% to $38.30.

19 Jan 2005 08:26 AM

Bank of New York said on Wednesday its fourth-quarter earnings rose to $351 million, or 45 cents a share, from from $307 million, or 40 cents a share, in the previous year. Excluding one-time costs related to the Pershing acquisition, earnings rose to 49 cents a share. Analysts were expecting 48 cents a share.

19 Jan 2005 06:49 AM

Wachovia Corp. said on Wednesday its fourth-quarter profit rose 32% on rising investment and banking fees. Income rose to $1.45 billion, or 95 cents per share, from $1.1 billion, or 83 cents, in the previous year.

19 Jan 2005 02:38 AM

Fannie Mae said on Tuesday that it has cut its first-quarter dividend by 50% to 26 cents a share.

18 Jan 2005 08:49 AM

Fifth Third Bancorp said today its fourth-quarter earnings fell to $176 million, or 31 cents a share, from $442 million, or 77 cents a share, in the previous year ago. Analysts were expecting 29 cents a share.