Prudential shuts down stock research, trading arm
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Insurance company Prudential Financial Inc. said on Wednesday that it will shut down its institutional stock research and trading business, Prudential Equity Group.
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MACQUARIE Bank Ltd announced a suspension of trading in its shares after the market closed today. Paterson Securities adviser Michael Heffernan said the trading halt could be related to two issues - the
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Leading shares closed lower Tuesday and off session highs as Wall Street was softer with InterContinental Hotels Group down on fading bid rumours, dealers said.
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The New York Stock Exchange was forced to halt trading in three stocks early on Thursday after erroneous orders from a broker were spotted by an NYSE specialist.
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Its powerful investment banking train's been halted by credit market meltdown.
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Leading shares closed sharply lower, impacted by losses on Wall Street after weak US economic data raised concerns of a further economic slowdown, with options expiries and UK banking stocks also weighing.
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Lehman Brothers Holdings will cease wholesale mortgage lending in the United States, a move that includes 1,300 job cuts.
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U.S. stocks ended down on Wednesday, pressured by growing concerns about troubles in the subprime mortgage market and a warning from the Federal Reserve chairman about housing weakness.
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A plan by US banks to calm down rattled credit markets is dropped shortly before it was due to launch.
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A consortium led by British insurer Prudential PLC has dropped its bid for a major South Korean state asset managing company.
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U.S. stocks fell on Friday as banks and brokers retreated on concerns about the impact of tightening credit on takeovers and the subprime mortgage industry.
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The UK's investment watchdog shuts down a property investment firm that took Â£10m from 180 customers.
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Shares of Merck &amp; Co. plunged nearly 27 percent yesterday, pulling other stocks down with it, after the pharmaceutical giant yanked its Vioxx arthritis drug off the market because of heart safety concerns.
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Risk is knocking Big Pharma stocks down. They won't be getting up anytime soon.
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Judging from the recent headlines, it would be easy to think that Wall Street&#8217;s private-equity machine shut down for the entire month of August. That would be an exaggeration &#8212; though not by much. Data from Thomson Financial show that the combined value of private-equity-related mergers and acquisitions of United States companies came to just $4.2 [...].
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The Dow Jones industrial average closed down nearly 200 points, or 1.5 percent.
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MedImmune Inc.&#39;s cancellation of trials for an arthritis and psoriasis treatment sent the company&#39;s stock lower Monday and helped drag down the entire biotechnology sector.