Merrill Lynch Expected to Quit Downtown for Midtown
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The brokerageâs move would be a blow to downtown and its supporters in Albany, including Gov. Eliot Spitzer, and it would hobble efforts to re-establish ground zero as a financial center.
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The board of Merrill Lynch has reached a consensus that E. Stanley OâNeal will not remain chairman, according to people briefed on the discussions.
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Merrill Lynchâs directors may be weighing E. Stanley OâNealâs future, but one thing is already guaranteed: at least a $159 million payday if he steps down.
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Merrill Lynch & Co Inc  on Wednesday reported its first loss in six years after writing down $7.9 billion of bad bets on risky subprime mortgages and related securities.
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Merrill Lynch & Co Inc , hit by  huge subprime mortgage losses, said on Monday it would boost  its capital by raising up to $6.2 billion in a private  placement with Singapore's Temasek Holdings and Davis Selected  Advisers.
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Profit at Merrill Lynch & Co. Inc.  could take a big hit if the U.S. brokerage heavyweight cuts the value on nearly $1 billion in subprime lender assets it bought just eight months ago.
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NEW YORK -- Merrill Lynch &amp; Co. will proceed with a plan to sell about $800 million of bonds from a money-losing hedge fund run by Bear Stearns Cos. , a day after delaying a similar auction, people with knowledge of the offering said.
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Merrill Lynch & Co Inc.  may look to sell its 20 percent stake in Bloomberg LP to raise capital after writing down $8.4 billion of assets last quarter, some investors have said.
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Merrill Lynch is expected to report today that it will add about $2.5 billion more to the $5 billion in write-downs it has already announced, a person briefed on the plan said.
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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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Merrill Lynch & Co Inc's  move to accelerate vesting on previously awarded stock-based pay to employees could add to the huge fourth-quarter loss already expected by analysts.
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Merrill Lynch & Co Inc on Thursday said it took a $14.1 billion writedown and adjustments in the fourth quarter as bad subprime mortgage bets forced the brokerage to sell pieces of the company to foreign investors to raise capital.
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Merrill Lynch & Co. Inc.'s  $1.3 billion bet on subprime lending hit a sour note on Monday, when the world's largest brokerage confirmed job cuts at its First Franklin Financial Corp. unit.
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Merrill Lynch, hit by huge subprime mortgage losses, said it would raise up to $6.2 billion in a private placement with Singaporeâs Temasek Holdings and Davis Selected Advisors.
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Merrill Lynch & Co Inc on Thursday said it took a $14.1 billion write-down in the fourth quarter on bad subprime mortgage bets plus other charges that have forced the brokerage to sell pieces of the company to foreign investors to raise capital.
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Citigroup Inc , Merrill Lynch & Co  and JPMorgan Chase & Co  may face larger fourth-quarter debt write-offs than previously expected, and Citigroup may have to slash its dividend 40 percent to preserve capital, according to a Goldman Sachs & Co analyst.
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Profit at Merrill Lynch & Co. Inc.   could take a big hit if the U.S. brokerage heavyweight  cuts the value on nearly $1 billion in subprime lender assets  it bought just eight months ago.