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.
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.
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.
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.
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."