Financial Services

Credit spreads widen led by banks, insurers 6:02am BST

NEW YORK (Reuters) - Credit markets weakened on Friday, led by banks and insurance companies on concerns about ratings quality, as world stocks plummeted amid continued worry about the deepening financial crisis. Full Article

TOPWRAP 19-G7 pledges urgent, decisive action as markets reel 6:02am BST

* Paulson says U.S. laying plans for bank equity stakes Full Article

AIG draws down $70 bln of government loan, shares fall 6:02am BST

NEW YORK (Reuters) - American International Group Inc's shares fell 15 percent on Friday amid mounting liquidity concerns after the insurer drew on $9 billion from a government loan in the last week. Full Article

More Financial Services Articles

Japan's MUFG may seek to change M. Stanley deal-CNBC 6:02am BST

* Mitsubishi UFJ may seek to renegotiate deal terms-CNBC Full Article

Excluding Goldman, M. Stanley, bank shares climb 6:02am BST

NEW YORK (Reuters) - Shares in JPMorgan Chase & Co , Bank of America Corp and other banks climbed on Friday, in stark contrast with former investment banks Goldman Sachs Group and Morgan Stanley . Full Article

U.S. Judge says Wachovia hearing possible Monday 6:02am BST

NEW YORK (Reuters) - A court hearing may be held on Monday over the rival bids of Citigroup and Wells Fargo & Co for Wachovia Corp even though Citigroup dropped out of negotiations, a U.S. judge said on Friday. Full Article

Insurers see lower 3rd-qtr income, S&P revises outlook 6:02am BST

NEW YORK (Reuters) - U.S. life insurers Lincoln National Corp and ACE Ltd reassured investors that they have enough capital, but credit rating agency Standard & Poor's cut its outlook for the industry on Friday. Full Article

Credit Suisse hits 5-year low as Q3 eyed 6:02am BST

ZURICH (Reuters) - Credit Suisse shares plunged to five-year lows on Friday, falling faster than Swiss peers and the European banking sector as investors fretted over the impact of the financial crisis on the bank's earnings. Full Article

TD Bank cuts prime rate by 15 bps on mortgage plan 6:03am BST

TORONTO, Oct 10 (Reuters) - Toronto-Dominion Bank said on Friday it will lower its prime lending rate to 4.35 percent, the second cut to prime it has made this week, citing the benefits of a federal government plan to buy additional residential mortgages from financial institutions. Full Article

Barclays says may raise capital to boost ratios 6:03am BST

LONDON (Reuters) - British bank Barclays Plc said it is considering raising capital and other options as part of Britain's plan to strengthen balance sheets across the sector. Full Article

Wachovia deal a boon for Wells Fargo - analysts 6:03am BST

BANGALORE (Reuters) - Wells Fargo and Co's acquisition of Wachovia Corp will be a major positive for the company as the deal will expand its presence in the "structurally attractive" Southeast region, at least three analysts said. Full Article

Germany working on UK-style bank rescue plan 6:03am BST

BERLIN (Reuters) - The German government is working on a British-style rescue plan for its financial sector which could involve guarantees of over 100 billion euros ($137 billion) and a large capital injection. Full Article