06 May 2005 09:11 AM

The investment bank Lazard Ltd., led by Bruce Wasserstein, raised its initial public offering to $854.6 million, the move that led to the end of the era of family-controlled bank.

05 May 2005 11:44 AM

U.S. benchmark 30-year mortgage rates fell last week, for the fifth straight week, according to the Freddie Mac. Rates fell to 5.75% from 5.78%.

05 May 2005 09:35 AM

The European Central Bank as expected left the eurozone key interest rate unchanged at a historic low against the background of disappointing economic data and moderate inflation. The rate has been at 2% since June 2003.

04 May 2005 01:36 PM

Mortgage applications rose 0.2% in the week ended April 29, according to the Mortgage Bankers Association. Refinancing applications rose 0.4%. Applications for mortgages increased 0.1%. Refinancings accounted for 39

04 May 2005 08:34 AM

THE ECB KEPT ITS BENCHMARK SHORT-TERM INTEREST RATE UNCHANGED AT 2%, AS WAS EXPECTED

04 May 2005 08:02 AM

Investment bank Lazard Ltd. seem to gain fruit from its lucrative initial public offering that may cost as much as $822.5 million and end a 157-year family control over the company.

04 May 2005 05:58 AM

Credit Suisse Group, the second-largest Swiss bank, reported today that its first-quarter profit rose to the highest level in two years.

03 May 2005 02:20 PM

The Federal Open Market Committee increased its main interest rates by 0.25% to 3%. The committee once again concluded that its monetary policy stance remains accommodative and that rates could

03 May 2005 09:39 AM

FOMC MEETING BEGINS

03 May 2005 05:13 AM

Morgan Stanley’s investors are deeply disappointed about the board’s Sunday decision to leave Philip Purcell in both his positions as Chairman and Chief Executive, preparing ground for a prolonged battle for the chairman’s post. Investors have long been frustrated about the turmoil at the company’s helm, Purcell’s rare appearances at the company, the outrageous rule that required a 75% board vote in order to oust Purcell, and the stock price that trailed competitors.

02 May 2005 04:33 AM

Morgan Stanley’s board in yesterday’s meeting removed a bylaw that called for a 75 percent vote to oust chief executive, and revealed plans to name a lead outside director to improve governance at the firm. The board, while making it easier to remove Philip Purcell whose leadership raises questions in the company, also voiced strong support for his leadership.

30 Apr 2005 08:47 AM

The comments from China’s top official may have negative impact on Chinese move towards allowing foreign banking institutions to expand on Chinese market.

28 Apr 2005 02:11 PM

The office of New York Attorney General Eliot Spitzer has started an investigation into dubious lending practices by the subprime lenders. Letters have been released to companies with large proportions of their clients being borrowers with less-than-stellar credit history, high relation of debt to income or high debt level. Spitzer’s

28 Apr 2005 11:27 AM

According to Freddie Mac, the benchmark 30-year mortgage rates fell to 5.78%

28 Apr 2005 09:20 AM

Chinese top official announced governmental intention to introduce new rules to limit the expansion of foreign banks in China. The move if implemented would create essential obstacles for overseas investors like HSBC Holdings PLC and Citigroup Inc. that have injected great sums of money in the country.