Bears Stearns Cos.

CHARLOTTE, N.C. (AP) — Merrill Lynch & Co. shareholders on Friday approved the investment bank's sale to Bank of America Corp., in a move that will create the nation's largest financial-services firm. During a special shareholders meeting at...

CHARLOTTE, N.C. (AP) — When shareholders vote on Bank of America Corp.'s acquisition of Merrill Lynch & Co. on Friday, they are expected to transform the bank into a business befitting its name and change the face of Wall Street. The shotgun deal,...

Bloomberg News Billionaire Warren Buffett's decision to increase his stake in financial companies, including Wells Fargo & Co. and U.S. Bancorp, and avoid subprime lenders is paying off for Berkshire Hathaway Inc. Berkshire's bank-related investments...

President-elect Barack Obama picked Timothy Geithner, head of the Federal Reserve Bank of New York, to be his Treasury secretary, with Lawrence Summers getting a senior White House role, a Democratic aide said Friday. Obama also is likely to nominate New...

The federal government rushed to the aid of faltering banking giant Citigroup Inc. late Sunday night, agreeing to invest $20 billion more and accept the lion's share of losses on more than $300 billion worth of the firm's troubled mortgage-backed assets....

Goldman Sachs Group Inc. chief executive Lloyd Blankfein and six other top executives at the bank will not be receiving cash or stock bonuses for 2008, a spokesman said yesterday. The decision was made by the executives, said spokesman Lucas Van Praag,...

Pressure intensified on Citigroup to sell part or all of itself as its stock fell below $4 a share Friday and fears escalated about future loan losses. Chief executive Vikram Pandit told managers earlier in the day that he opposes breaking up the...

Despite Prince Alwaleed bin Talal's decision to boost his stake in Citigroup, Inc., shares dropped below $5 a share Thursday, to their lowest level in 15 years. Prince Alwaleed, who is a longtime investor in Citigroup, plans to increase his stake in...

Mortgage-finance companies Fannie Mae and Freddie Mac are suspending foreclosures during the holiday season. The two companies said Thursday that they will halt foreclosure sales between Nov. 26 and Jan. 9, while they evaluate whether borrowers qualify...

NEW YORK (AP) _ Pressure intensified on Citigroup to sell part or all of itself as its stock fell below $4 a share on Friday and fears escalated about future loan losses. CEO Vikram Pandit told managers earlier in the day he opposes breaking up the...

President-elect Barack Obama on Friday selected the head of the Federal Reserve Bank of New York as his nominee for Treasury secretary, choosing a vigorous advocate of government intervention in the troubled economy who nonetheless commands wide respect...

The federal government rushed to the aid of faltering banking giant Citigroup Inc. late Sunday night, agreeing to invest $20 billion more and accept the lion's share of losses on more than $300 billion worth of the firm's troubled mortgage-backed assets....