Wells Fargo plans to buy Wachovia; Citi ends talks
Wells Fargo emerged as the apparent victor in the battle for control of Wachovia Thursday night, after rival suitor Citigroup broke off talks with Wells Fargo and federal regulators but vowed to have its day in court.
Nations:U.S. Activities:2008 Wachovia Deal
2008-10-09
AIG execs' retreat after bailout angers lawmakers
Less than a week after the federal government had to bail out American International Group Inc., the company sent executives on a $440,000 retreat to a posh California resort, lawmakers investigating the company's meltdown said Tuesday.
Nations:U.S. Activities:2008 AIG Crisis Source:(AP)
2008-10-07
Fed to buy massive amounts of short-term debt
WASHINGTON - The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debt in a dramatic effort to break through a credit clog that is imperiling the economy.
Nations:U.S. Germany People:Henry Paulson Ben Bernanke Activities:2007 Global Credit Crunch
2008-10-07
6 die in family murder-suicide in upscale LA home
LOS ANGELES - An unemployed man with an advanced finance degree who was despondent over his own financial problems shot and killed his wife, three children, mother-in-law and then himself in an upscale home in a gated community, police said Monday.
Nations:U.S. Source:(AP)
2008-10-06
Eli Lilly agrees to buy ImClone for over $6B
NEW YORK - The drugmaker Eli Lilly & Co. said Monday it has agreed to buy biotechnology company ImClone Systems Inc. for more than $6 billion in a deal that would expand its pipeline of cancer treatments.
Nations:U.S. People:Carl Icahn Source:(AP)
2008-10-06
Court tilts Wachovia fight toward Wells Fargo
NEW YORK - The battle for control of troubled bank Wachovia tilted toward Wells Fargo Sunday as a state appeals court blocked a lower court ruling that had favored rival bidder Citigroup.
Nations:U.S. Activities:2008 Wachovia Deal Source:(AP)
2008-10-06
Wachovia says it will press ahead with Wells deal
NEW YORK - Wachovia Corp., at the center of a fight between Wells Fargo & Co. and Citigroup Inc. over who will buy the beleaugered bank, is moving ahead with its deal to sell itself to Wells Fargo -- while questions arise about the damaging effects that prolonged litigation might have on Wachovia.
Nations:U.S. Activities:2008 Wachovia Deal Source:(AP)
2008-10-05
Edwards: Passion for health reform keeps me going
NEW YORK - Elizabeth Edwards said Saturday that her passion for reforming the nation's health care system has been "a great refuge" for her during the recent turmoil over her husband's extramarital affair.
People:John Edwards John McCain Activities:John Edwards Sex Scandal Source:(AP)
2008-10-04
For bailout to work, housing market needs to mend
NEW YORK - Washington's financial bailout plan is now law. So the credit spigot will start flowing again, banks will resume lending, and an economic recovery can begin, right?
Nations:U.S. People:Henry Paulson Activities:2008 U.S. Financial Rescue Source:(AP)
2008-10-04
It's wait and see after Bush signs rescue plan
WASHINGTON - After two weeks of anguishing debate, Congress has passed and President Bush signed a massive plan to save the financial industry and the economy at large from an unthinkable free fall. Now, the world holds its breath, seeing if it will work.
Nations:U.S. People:John Boehner Henry Paulson Nancy Pelosi Barack Obama John McCain Arnold Schwarzenegger Activities:2008 U.S. Financial Rescue Bush Admin.
2008-10-04
Wells Fargo agrees to buy Wachovia, Citi objects
NEW YORK - A battle broke out for control of Wachovia Friday as Wells Fargo signed a $15.1 billion agreement to buy the Charlotte, N.C.-based bank, while Citigroup and the federal regulators backing its earlier deal insisted that Citi's takeover bid go forward.
Nations:U.S. Activities:2008 Wachovia Deal
2008-10-03
Wells Fargo acquiring Wachovia for $15.1 billion
NEW YORK - In an abrupt change of course, Wachovia said Friday it agreed to be acquired by San Francisco-based Wells Fargo & Co. in a $15.1 billion all-stock deal, trumping rival suitor Citigroup's plan to acquire Wachovia's banking operations.
Nations:U.S. Activities:2008 Wachovia Deal Source:(AP)
2008-10-03
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