Merrill Lynch posts $7.8bn loss
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Merrill Lynch reports a net loss for 2007 after it is caught up in problems from a slump in the US housing market.
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Merrill Lynch is expected to suffer $15 billion in losses stemming from soured mortgage investments, almost double its original estimate.
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Merrill Lynch & Co Inc on Thursday posted a quarterly loss of nearly $10 billion after writedowns and adjustments totaling about $16 billion as bad subprime mortgage bets forced the brokerage to sell stakes in the company to foreign investors to raise capital.
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Merrill Lynch & Co Inc reported about $16 billion in mortgage-related writedowns and adjustments on Thursday in the worst quarter of the company's history.
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Wall Street stocks endured a volatile session on Wednesday in which a $7.9bn writedown at Merrill Lynch revived worries about banks' exposure to risky investments.
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Merrill Lynch & Co Inc  on  Wednesday reported $7.9 billion in write-downs for the  third-quarter -- triggering its first loss in six years -- as  the company was burned by lax risk management and bad bets on  mortgages and leveraged loans for corporate takeovers.
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Merrill Lynch & Co  said on Monday co-President Ahmass Fakahany will leave the company as the brokerage builds a new management team following a credit implosion that triggered $12 billion in net losses in the second half of 2007.
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In today&#39;s fines, Merrill Lynch &amp; Co. was hit with the second largest, at US$1.6 million, followed by American Express Financial Advisors, at $700,000.
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Merrill Lynch & Co Inc , hit by huge subprime mortgage losses, said on Monday it would boost its capital by raising up to $6.2 billion in a private placement with Singapore's Temasek Holdings and Davis Selected Advisors.
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Stocks tumbled on Wednesday as a steep quarterly loss at Merrill Lynch & Co. Inc.  and executives' warnings about possible future problems deepened investors' concern about the credit crisis.
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Merrill Lynch posted a loss of nearly $10 billion in connection with soured mortgage investments.
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Investment bank Morgan Stanley says it has suffered a $3.7bn loss from its US sub-prime mortgage exposure.
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Business & money: Merrill Lynch announces its second multi-billon dollar asset writedown â and a massive loss for 2007
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NEW YORK -- Merrill Lynch &amp; Co. will proceed with a plan to sell about $800 million of bonds from a money-losing hedge fund run by Bear Stearns Cos. , a day after delaying a similar auction, people with knowledge of the offering said.
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- Citigroup expects a $15 billion fourth-quarter write-down at Merrill Lynch & Co Inc  and said CDO/subprime exposures will decline by 50 percent to 70 percent in aggregate.
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Merrill Lynch said today it has devalued its collection of mortgage-backed assets by $7.9 billion, far more than the company estimated only three weeks ago and a sign that the financial industry still may not have a full grip on problems related to risky, subprime loans.
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Merrill Lynch & Co Inc  on Wednesday reported $7.9 billion in write-downs for the third-quarter -- triggering its first loss in six years -- as the company was burned by lax risk management and bad bets on mortgages and leveraged loans for corporate takeovers.