Reuters - New York Attorney General Andrew Cuomo
on Thursday said Merrill Lynch & Co Inc , Deutsche Bank
(DBKGn.DE) and Goldman Sachs have agreed to settlements
regarding their auction rate security sales practices.
Reuters - Financial industry enforcement agents
will review the auction-rate debt operations of about 40 firms
industrywide starting next week, sources familiar with the
investigation said on Thursday.
Reuters - Federal Reserve Chairman
Ben Bernanke tackles financial stability in a key speech on
Friday but economists doubt he will provide solid clues about
future policy action to calm the credit crunch.
Reuters - Investors’ growing belief in the
likelihood of a federal bailout of home-funding giants Fannie
Mae and Freddie Mac triggered a rally in the
debt prices of the two companies on Thursday while a steep fall
in their shares prices abated.
AP - Apparel retailer Gap Inc. said Thursday that its second-quarter profit rose 51 percent, despite a sales decline, helped by cost-cutting and tight control on inventory.
Reuters - The Dow and S&P 500 rose on Thursday
as surging oil prices drove up energy shares, though fresh
fears of more credit losses on Wall Street kept gains modest
and pushed the Nasdaq into negative territory.