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Reuters: Business News
  • Wells could win 75-80 percent of Wachovia deposits: source
    NEW YORK (Reuters) - Wells Fargo & Co is likely to get about 75 to 80 percent of Wachovia Corp's deposits, while Citigroup Inc would get the remainder, a person briefed on the matter said on Tuesday.

  • Wall St sinks for fifth day as credit worries mount
    NEW YORK (Reuters) - Stocks tumbled for a fifth straight session on Tuesday, capping the Dow's biggest five-day point loss ever, as fears mounted that the rapidly spreading credit crisis would drag the economy into a deep recession.

  • Alcoa profit drops on lower aluminum prices
    NEW YORK (Reuters) - Aluminum producer Alcoa Inc on Tuesday posted a quarterly profit that missed analysts' estimates on softer demand, higher costs and sharply lower prices for aluminum.

  • Morgan Stanley and Mitsubishi clear hurdle, shares fall
    NEW YORK (Reuters) - Morgan Stanley said on Tuesday its deal to sell a stake to Japanese bank Mitsubishi UFJ Financial Group was on track to close promptly, easing fears about the deal which earlier sent its shares plummeting.

  • Bernanke signals readiness to cut rates
    WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Tuesday signaled a readiness to lower U.S. interest rates in a dramatic shift to support an economy battered by a financial crisis of "historic dimension."


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