MarketWatch.com - Financial Services Industry News

Israel Stocks: Tel Aviv in broad retreat, snapping seven-session win streak

Wed, 07 Jan 2009 15:52:00 GMT

Israel stocks snap a seven-session winning streak, as investors sell shares of Israel Chemicals, drug shares, Oil Refineries Ltd., and Elbit Systems lower. Investors discount conflict with Hamas in the Gaza Strip.

London Markets: Weakness in utilities, miners and BP put pressure on London

Wed, 07 Jan 2009 15:26:00 GMT

Utility shares trade lower in a declining London market, with Scottish & Southern shares falling sharply after it says that it will issue shares to raise cash.

U.S. expects $1.2 trillion budget deficit in fiscal 2009

Wed, 07 Jan 2009 15:26:00 GMT

The U.S. government will run a $1.2 trillion budget deficit in fiscal 2009, the Congressional Budget Office says, offering a stark assessment of the red ink facing the country and the incoming administration of President-elect Barack Obama.

Financial Stocks: Oppenheimer analyst's comments help upend financial sector

Wed, 07 Jan 2009 15:10:00 GMT

U.S. financial shares stage a broad retreat in early action, pulling back as an influential Oppenheimer & Co. analyst predicts banks will need to raise lots of additional capital this year -- and will likely face further credit downgrades.

Europe Markets: Shares in Europe retreat after strong run, U.S. jobs data

Wed, 07 Jan 2009 15:09:00 GMT

European shares retreated in mid-day trading on a combination of profit taking following a strong start to the year and on worries over balance sheets and earnings in a tough economy.

Indications: U.S. futures drop on Alcoa production cut, jobs data

Wed, 07 Jan 2009 14:29:00 GMT

Caution from metals giant Alcoa and a report showing that nearly 700,000 jobs were lost last month help drag U.S. stock futures lower as an up-and-down week continues.

Before the Bell: Alcoa, Bank of America, Satyam, employment data in focus

Wed, 07 Jan 2009 13:36:00 GMT

U.S. futures extended losses Wednesday after a worse-than-expected reading on U.S. employment added to pressure from Alcoa's decision to slash jobs and lower production.

Economic Report: Worst December for layoffs on record, Challenger survey says

Wed, 07 Jan 2009 12:30:00 GMT

More bosses played Scrooge last month than during any December on record, as major companies kept up a steady pace of job reductions, according to outplacement firm Challenger Gray & Christmas.

Mortgage applications fell 8.2% last week: MBA

Wed, 07 Jan 2009 12:00:00 GMT

Last week's mortgage applications show a seasonally adjusted decrease 8.2% from the pace of the week before, reflecting a drop in homeowners seeking to refinance their mortgages, according to Mortgage Bankers Association data. Data on filings and mortgage rates have drawn keen interest from investors and economists alike, in line with the Federal Reserve's move this week to start purchasing mortgage-backed securities.

Li Ka Shing Foundation selling Bank of China shares, term sheet says

Wed, 07 Jan 2009 11:53:47 GMT

(Adds information on Bank of China's 2006 IPO; stake sales by UBS and Bank of America in China Construction Bank; Royal Bank of Scotland's stake in Bank of China.) HONG KONG (MarketWatch) -- The Li Ka Shing Foundation is selling two billion shares in mainland lender Bank of China Ltd. (3988.HK) in a placement that could raise up to US$524 million for the charitable foundation owned by Hong Kong's richest man, according to a term sheet seen by Dow Jones Newswires and a person familiar with the situation.