Financial Services Page Editor: Alice Hung, Online Desk, +1 416 941 8192 Provided by: Reuters News Updated: 18 September 2008 3:23:19 (GMT+07:00)
Morgan Stanley, Goldman shrs sink as fear spreads NEW YORK, Sept 17 (Reuters) - Anxious investors hacked away at Morgan Stanley and Goldman Sachs on Wednesday, sending shares of the two largest investment banks lower and boosting their debt-insurance prices higher amid rising fears over their ability to survive a deepening financial crisis. Story ID: nN17352108 Washington Mutual investor agrees to take dilution NEW YORK, Sept 17 (Reuters) - A major Washington Mutual Inc investor has waived an agreement that restricted the largest U.S. savings and loan from raising capital, a move that reflects the financial difficulties of the Seattle-based thrift. Story ID: nN17200342 UK bank Lloyds in advanced talks to buy HBOS LONDON, Sept 17 (Reuters) - British bank Lloyds TSB is in advanced talks to buy rival HBOS Plc to create a 24 billion pound ($43 billion) mortgage giant as the credit crunch forces more troubled banks into the arms of better-funded rivals. Story ID: nLH437309 Barclays says could buy more Lehman assets NEW YORK/LONDON, Sept 17 (Reuters) - British bank Barclays Plc, after striking a $1.75 billion deal to purchase Lehman Brothers' core U.S. business, said it could buy some Lehman businesses in Europe or Asia and agreed to provide bankruptcy financing to the troubled investment bank. Story ID: nLH589059 AIG woes offer double benefit for insurance rivals LONDON, Sept 17 (Reuters) - Insurance rivals stand to reap the benefits from the woes of American International Group, snapping up assets AIG is forced to sell while gaining greater pricing power as AIG pulls in its claws. Story ID: nLH357558 Wall St. woes force US to seek cash for Fed WASHINGTON/LONDON, Sept 17 (Reuters) - The U.S. government sought to raise $40 billion on Wednesday to help its central bank finance a rescue plan for insurance giant AIG as the cost of staving off crisis on Wall Street soared. Story ID: nSP219950 Morgan Stanley weighing possible merger - CNBC SINGAPORE, Sept 17 (Reuters) - U.S. investment bank Morgan Stanley is weighing whether it should remain independent or merge with a bank, given the recent turbulence in the company's share price, broadcaster CNBC reported on Wednesday. Story ID: nSP359278 European banks face limited Lehman pain - ECB ROME, Sept 17 (Reuters) - European banks face limited losses from the collapse of investment bank Lehman Brothers, though the United States' decision not to rescue it was "a bit erratic", a European Central Bank board member said on Wednesday. Story ID: nLH673597 Freddie funds $548 mln multifamily housing deal NEW YORK, Sept 17 (Reuters) - Freddie Mac, the second-largest provider of funding for U.S. mortgages, on Wednesday said it securitized $548 million in multifamily housing debt as it continues to fill a void left by the global credit crunch. Story ID: nN17458582 Analysts raise 2008 profit view for Morgan Stanley BANGALORE, Sept 17 (Reuters) - Several analysts raised their 2008 profit forecast on Morgan Stanley, after the No. 2 U.S. investment bank's better-than-expected quarterly results brought some relief to a rattled Wall Street, but voiced concerns that macroeconomic factors could weigh on fourth-quarter earnings. Story ID: nBNG363792 UBS shares seen oversold, has capital buffer ZURICH, Sept 17 (Reuters) - Investors have piled out of UBS amid turmoil on Wall Street but some analysts say its shares look oversold as the Swiss bank's strong capital base and steady revenue should help it weather the financial crisis. Story ID: nLH499861 U.S. looks to Liddy for safe hands on AIG NEW YORK, Sept 17 (Reuters) - The U.S. government is betting former Allstate chief Edward M. Liddy is the safest pair of hands to oversee the dismantling of American International Group Inc and prevent further unraveling of the world's stressed financial system. Story ID: nN17526588 Copyright © 2008 Reuters News
