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Entries tagged "Wachovia Corp."Finance Layoffs: Wells Fargo and BBVAThe latest reports and rumors of layoffs are at Wells Fargo and BBVA Compass Bank. J.P. Morgan turns lemons into $29B in lemonadeThe bank is poised to book $29 billion in income on the toxic assets it bought from Washington Mutual. Wells Fargo's $10B stock offering should help addition of WachoviaWells Fargo & Co. is moving forward with issuing more stock -- to the tune of $10 billion -- to maintain a strong balance sheet and help it offset the purchase of debt-laden Wachovia Corp. ... The 'hired guns' become the fired gunsThe global credit crisis has forced many financial institutions to turn to a new breed of CEO, the "hired gun." The mess many of these companies have gotten themselves into, however, has become just too big for any CEO to dig out of, resulting in stints that are growing ever shorter as companies either fail or sell. ... Wachovia free falls as Citi, Wells Fargo fritterWachovia Corp. closed down nearly 26% at $3.75 Thursday as suitors Citigroup Inc. and Wells Fargo & Co. negotiated over how they would divvy up the target's assets. ... Tata picks up Citi's back-office unitCitigroup Inc. continues its corporate makeover with its latest divestment. The New York-based financial services firm unloaded its India-based back-office unit, Citigroup Global Services Ltd., Wednesday to information technology giant Tata Consultancy Services Ltd. for $505 million in cash.... Citi wins injunction extending its exclusivity agreement with WachoviaCitigroup Inc. won't be letting Wachovia Corp. slip out of its hands and run off with Wells Fargo & Co. without a fight. The New York-based rushed to the courts and received emergency injunctive relief extending its exclusivity agreement with Wachovia.... FDIC gives qualified support to Citi on Wachovia dealThe Federal Deposit Insurance Corp. threw its support behind Citigroup Inc. in the unfolding drama over Wachovia Corp., which shocked markets by walking away from its deal with Citi and agreeing to a $15 billion offer from Wells Fargo & Co.... Citi tells Wells Fargo to back off of WachoviaCitibank Inc. isn't taking Wells Fargo & Co.'s attempt to acquire Wachovia Corp. out from under its nose lying down. Raising the threat of lawsuits, the New York banking giant released a statement demanding that Wells Fargo and Wachovia immediately terminate their merger agreement.... Wachovia credit default swaps tighten after Wells Fargo dealThe cost of credit default swap contracts on Wachovia Corp.'s debt tightened quickly Friday morning after Well Fargo & Co. rode into Charlotte, N.C., with a $15.1 billion offer to steal the bank right out from under Citigroup Inc., which is now threatening to take legal action to enforce its government-brokered deal. ... CDS spreads say investors remain jittery on Wachovia, Morgan StanleyThe death of Washington Mutual Inc. has set off alarm bells in the credit default swaps market for other banks, as Wachovia Corp. and Morgan Stanley saw the spread on their default contracts widen sharply Friday as investors looked to insure themselves against or bet upon another bank failure. ... Wachovia to sell noncore assets?Even though Wachovia Corp. is reeling from a $9.11 billion second-quarter loss, Wachovia CEO Robert Steel says that the bank will not need to raise capital, but could sell noncore assets, according to a Reuters report based on the notes of Sandler O'Neill & Partners LP analyst Kevin Fitzsimmons.... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Wachovia Corp.." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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