The sovereign investment fund of Abu Dhabi is giving America's biggest bank, Citigroup, some much-needed capital to offset its big mortgage losses. For some insight into this news, Bob Moon talks with David Wighton of the Financial Times.
Citigroup's $7.5 billion investment offer from the Abu Dhabi Investment Authority might have saved it from subprime trouble. Doug Krizner talks to Peter Thal-Larsen of the Financial Times in London about the deal.
New York seems to be getting ahead on its rivalry with London as the world's preeminent financial center. But Ashley Milne-Tyte reports the two cities' competition may soon be dwarfed by other emerging markets.
Europe's largest bank, HSBC, is going to rescue two of its structured investment vehicles, or SIVs, that have taken a beating from recent woes in the mortgage and credit markets. It'll cost HSBC $35 billion to make things right. Amy Scott reports.
Despite the host of bad news that hit Wall Street, there still managed to be a few winners for the third quarter. Bob Moon looks at the latest corporate report cards and tells us who came out strong.
Since Goldman Sachs has managed to evade a lot of the market trouble caused from subprime, they're giving back with a new billion-dollar charitable fund. Amy Scott reports it's also an effective way to avoid criticism.
The Organization for Economic Cooperation and Development shook investors today when it warned that overall subprime lending losses could feasibly hit between $200 billion and $300 billion. Can anything be done to limit the losses? Bob Moon has more.
The Federal Reserve followed up on its announcement of increased openness by releasing the minutes of its last meeting. That led to a volatile day on Wall Street, as traders sought to figure out which way the Fed is leaning on interest rates. Bob Moon reports on the action with Kai Ryssdal.
