Posted In: Investing, Wall Street
Morgan Stanley announced today it has collected $4 billion for a new infrastructure fund. Credit Suisse and General Electric did them one better, raising more than $5 billion. Jill Barshay reports on where they're going to put all that money.
Posted In: Economy, Housing
Mortgage rates in some markets came down today, with banks offering certain jumbo loans at a little above 6% -- a lot cheaper than last week. Banks are loosening up on lending again because Fannie Mae and Freddie Mac have a new strategy. Jill Barshay reports.
Posted In: Economy
New York City's art auction season opens today. Sotheby's and Christie's are hoping to sell $1.8 billion worth of works -- 25% more than last year. Jill Barshay reports on the art bubble that's just getting larger, despite a struggling U.S. economy.
Linens 'n Things is filing for Chapter 11 bankruptcy. The troubled home store blames the fall-out of the housing market for its decline. But analysts say the company was too highly leveraged. Jill Barshay reports.
Posted In: Crime
A Chicago club has been ordered to pay more than $500,000 in damages after Red Bull spies spotted the club's bartenders serving a cheaper imitation to customers who had requested the super-caffeinated beverage in their drinks. Jill Barshay reports.
Today, Wall Street is convening in Washington for the security industry's first ever federal legislative and regulatory conference. Jill Barshay reports that financial executives need to make friends while they're there.