Merrill Lynch to raise $6.2 billion from investors
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Merrill Lynch & Co Inc , hit by huge subprime mortgage losses, said on Monday it would boost its capital by selling up to $6.2 billion worth of discounted new stock to Singapore's Temasek Holdings and Davis Selected Advisers.
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Citigroup wrote off a colossal $18.1  billion on Tuesday and secured new capital as Merrill Lynch,  also seen heading for big losses due to the U.S. subprime  mortgage meltdown, announced a $6.6 billion shot in the arm.
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TOKYO Mitsubishi Motors has said that it will sell $2 billion of US auto loans to Merrill Lynch in an effort to reduce debt. The companies will also set up a joint venture to manage loans and assist Mitsubishi in raising funds.
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U.S. investment bank Merrill Lynch &  Co Inc  is seeking about $4 billion in a second capital  raising, and the Kuwait Investment Authority is expected to be  a significant investor in the new deal, the Financial Times  reported on Sunday, citing people familiar with the matter.
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In today&#39;s fines, Merrill Lynch &amp; Co. was hit with the second largest, at US$1.6 million, followed by American Express Financial Advisors, at $700,000.
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Total money market mutual fund assets rose by $2.10 billion to $2.536 trillion for the week, the Investment Company Institute said Thursday.
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Investments from Singaporeâs government and a mutual fund are meant to shore up Merrill Lynchâs capital base.
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The Bank of America Corporation announced on Wednesday that it planned to raise $6 billion by selling preferred shares, one day after reporting a 95 percent decline in quarterly profit.
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Stock index futures rose on Monday, lifted by news of a deal to buy a Merrill Lynch  lending unit and as investors eyed retailers as the busy holiday shopping season drew to a close.
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Merrill Lynch said it is getting a $6.6 billion cash infusion from three foreign funds: The Korean Investment Corp., Kuwait Investment Authority and Mizuho Corporate Bank.
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U.S. investment bank Merrill Lynch & Co Inc.  is seeking about $4 billion in a second capital raising, and the Kuwait Investment Authority is expected to be a significant investor in the new deal, the Financial Times reported on Sunday, citing people familiar with the matter.
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Merrill Lynch is expected to suffer $15 billion in losses stemming from soured mortgage investments, almost double its original estimate.
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Stocks rose on Monday, led by financial companies, after Merrill Lynch  took steps to shore up its balance sheet with plans to raise up to $6.2 billion and sell a lending unit.
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Wall Street rose moderately in early trading, boosted by news that Merrill Lynch will receive an investment of up to $6.2 billion from two investment groups.
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Some 25,000 Merrill Lynch employees are now using the Wealth Management Edition as part of a test-run partnership.
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Although Singapore was the major source of Merrill Lynchâs $6.2 billion infusion, Merrillâs other investor, Davis Selected Advisors, was a bit of a dark horse.
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NEW YORK, May 21-- Blackstone Group, the second-largest U.S. private equity firm, said Monday that it planned to raise $3.87 billion to $4.13 billion in an initial public offering this year.