Chase Buys Some of Lenderâs Assets
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Northern Rock, one of Europeâs biggest casualties of the credit crisis, sold some of its mortgage portfolio to JPMorgan Chase.
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Bank of New York Co.  on Monday agreed to buy Mellon Financial Corp. , one of the most storied names in American finance, for $16.5 billion, creating a powerhouse in securities servicing and asset management.
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Beacon Capital Partners LLC, which had sold most of its Boston-area real estate, is jumping back in as a buyer despite record high prices for commercial properties, agreeing to acquire half of One Financial Center for a reported $390 million.
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The Federal Home Loan Bank of Seattle wants permission to buy mortgage-backed securities from the financial institutions that own it.
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In the wake of the subprime mortgage meltdown, traditional financial institutions have tightened up on who gets to borrow money. But some people are still finding ways to borrow what they need, thanks to another area of lending that is booming.
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Investment banks and hedge funds may wind up as the top lenders to wannabee home buyers with poor credit.
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Banco Santander Central Hispano, SpainÂs biggest bank, agreed to buy 90 percent of Drive Financial Services of Dallas for $651 million, gaining a presence in 35 states with what is its first consumer finance move into the United States. The bank will buy the unit from HBOS, a British mortgage lender, and the management of Drive Financial. Santander will also pay as much as $175 million to some of Drive FinancialÂs management if the company meets goals in the next two years. Drive Financial offers financial services through 10,000 car dealers and had $2.4 billion of loans in August.
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SPAINâs Banco Santander Central Hispano is conducting a beauty parade of investment banks to sell the life businesses it will acquire as part of its Â£8 billion takeover of Abbey.
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German heavy industry giant Thyssenkrupp said it has sold residential property worth 2.1 billion euros (2.8 billion dollars) to a consortium comprising the real estate funds of Morgan Stanley and German group ...
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While the credit squeeze is keeping private-equity firms from making big commercial real estate plays, it may soon create an opening for buyers less reliant on borrowed cash.
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Deal worth $1.35 billion is designed to help Intuit attract a larger number of financial institutions as customers.
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Bank of New York Co.  said on Monday it would buy Mellon Financial Corp.  for $16.5 billion, combining two storied names in American finance to create a powerhouse in custody services for institutional investors and one of the biggest asset managers.
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Brookfield Properties Corp., which owns 48 commercial sites including the World Financial Center in New York, bought a 19-story office tower in Rosslyn, Virginia, from Deutsche Immobilien Fonds AG for $106 million.
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The UKâs oldest independent stockbroker was today being linked to a deal involving the sale of a 50% stake to US bank JP Morgan Chase.
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Spanish bank Banco Santander Central   Hispano SAN.MC will pay $651 million to buy a 90 percent   stake in U.S. auto financing company Drive Financial Services,   it said on Monday.
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A private equity arm of JPMorgan Chase  & Co.  is eyeing some of Ford Motor Co.'s  luxury  brands, a source familiar with the matter said on Friday, the  latest sign the struggling carmaker is looking to unload assets  as part of a turnaround bid.
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Investors took advantage of low prices today to buy cheaper stocks, including some big corporate names.