The Economy

Big news today is the economy. A plethora of reports, pretty much universally painting a really dismal picture. It’s enough to make a grown man cry. Really, it is…

Where Did It Go?

Staring into the abyss: Citigroup announced a steep cut in its stock dividend and another big investment by foreign investors on Tuesday after taking another big write-down related to subprime securities and posting a $9.83 billion loss for the fourth quarter. Beginning what is expected to be a grim week for financial company earnings, Citigroup said it [...]

Citigroup Posts $9.83 Billion Loss, But Gets $12.5B Infusion

Citigroup Inc. secured $12.5 billion in much-needed cash and slashed its dividend as a huge drop in the value of its mortgage holdings sent it to its first quarterly loss in 16 years. The nation’s largest bank, which lost $9.83 billion in the last three months of 2007, said Tuesday the value of its mortgage portfolio fell by [...]

Merrill Gets Cash Infusion From Kuwait, Korea, Japan

Merrill Lynch & Co. said Tuesday that it is getting a cash infusion of $6.6 billion from three foreign investment funds. The Korean Investment Corp., Kuwait Investment Authority and Mizuho Corporate Bank will receive a special class of stock for their combined $6.6 billion investment. All will be [...]

‘07 wholesale inflation highest in 26 years

Wholesale inflation shot up in 2007 by the largest amount in 26 years, even though falling gasoline costs allowed price pressures to moderate in December [...]

Tags: Economy