Home
Wachovia takes big hit on the market
Kyrgyzstan News.Net
Tuesday 22nd July, 2008
US banking giant Wachovia has announced a quarterly loss of US$8.662 billion.
The loss amounted to 4.20 dollars per share, far above the average Wall Street forecast of a loss of 78 cents per share.
Wachovia has announced it will cut 5,350 jobs by the end of 2009 as it restructures in the face of a difficult environment.
Credit firm Standard & Poor's has downgraded its rating on Wachovia but said the outlook is now stable.
It said the bank was hurt by its acquisition of mortgage firm Golden West but is now taking steps to bolster its finances.
 Email this story to a friend
Have your say on this story
|
 |
 |
- Seven killed in China road accident
Guiyang (China), Oct 11 (Xinhua) At least seven people were killed and 22 injured Saturday when the truck in which they were travelling overturned on a highway in China's southwestern province of Guizhou, officials said. [read story]
- Death toll in Pakistan blast climbs to 55
Islamabad, Oct 11 (Xinhua) The death toll in the blast which hit a jirga, or tribal elders' meeting, in northwestern Pakistan's tribal region Friday has climbed to 55, local TV reported Saturday. [read story]
- India-Asia continental clash may have caused long term cooling in Earth's climate
Washington, Oct 11 : A new study has suggested that the collision between India and Asia set off events that likely caused long-term cooling in Earth's climate. [read story]
- 'Anarkali' dresses a hit as Malaysian Indians go Diwali shopping
Kuala Lumpur, Oct 11 (IANS) Elegant 'Anarkali' churidar-kurta women's dresses in layered fine cloth, a throwback to India's Mughal era, are becoming a big draw with Malaysian Indian women as they begin shopping for Diwali. [read story]
- Three new universities to be set up in India for NRIs
Singapore, Oct 11 (IANS) India plans to set up three new universities for Non Resident Indians and Persons of Indian Origin, Minister for Overseas Indian Affairs Vayalar Ravi said Saturday. [read story]
|
|
 |
 |
|
|
|
Copyright © 1999-2008 Mainstream Media EC
All rights reserved
