Prudential to shutter stock-trade subsidiary
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Prudential Financial Inc. , the second-largest US life insurer, will shut its 420-person stock research and trading unit, one of the last traces of its failed attempt to become a financial supermarket.
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The British insurer Prudential said on Sunday that it had rejected an approach from a potential bidder for its online bank Egg.
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Two Bear Stearns Cos.  hedge  funds that invested heavily in securities backed by subprime  mortgage loans are close to being shut down as a rescue plan is  falling apart, The Wall Street Journal Online reported on  Wednesday.
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Morgan Stanley  on Wednesday said it will eliminate 1,000 jobs as it scales back its U.S. residential mortgage operations and closes its British residential mortgage lending business, Advantage Home Loans.
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Life insurer Prudential rebuffs a "speculative" takeover approach for its internet bank Egg.
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Jarvis, the stricken former private finance initiative (PFI) group, warned shareholders yesterday that it could cease trading in a matter of weeks if a refinancing deal is not agreed with its banks.
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LONDON : British insurer Prudential announced plans to sell new shares worth one billion pounds (1.44 billion euros, 1.80 billion dollars) to expand in its home market and comply with new regulations.
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Cendant Corp. plans to spin off its mortgage and fleet-management operations to shareholders, ending speculation about the potential sale of the unit.
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By Connie Guglielmo  Hewlett-Packard, the world's biggest maker of personal computers, said it would withdraw its shares from the Nasdaq Stock Market to reduce its listing fees.
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Freddie Mac will shut down the market-making operations of its securities sales and trading unit as it restructures some mortgage-securities operations, the government-sponsored home-mortgage company said Monday.
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Europeâs biggest bank said it would close an American unit as it scales back risk-taking after writing down the value of subprime mortgage investments by $14.7 billion last year.
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The head of global stocks at the Citadel Investment Group, a $12 billion Chicago-based hedge fund, has left the firm, according a source.
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Commerce Bancorp will end contracts with companies owned by executives and their relatives, halting a practice that has drawn the attention of regulators.
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Manufacturing conglomerate Tyco  International Ltd. TYC.N on Tuesday said Chief Financial  Officer David FitzPatrick will step down at the end of this  year to pursue private equity or corporate turnaround  opportunities.
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ElkCorp said that it planned to accept a bid for the company from Building Materials Corporation of America and terminate a planned sale to the private equity firm Carlyle Group.
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One of Britain's biggest property funds shuts its doors to withdrawals after panic selling
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Mortgage giant Freddie Mac announced Monday that it is shutting down some operations of its debt-securities sales division and transferring others - moves that experts said should tighten the company's internal controls after an accounting scandal.