Wells Fargo to raise $10 billion to fund Wachovia deal (Reuters)

Filed Under (Personal Finance) by on 05-11-2008

Reuters - Wells Fargo & Co said on Wednesday it plans to sell at least $10 billion of stock to help fund its purchase of Wachovia Corp , which will create the fourth-largest U.S. bank by assets.

--- Reuters ...

Wells Fargo to sell $10 billion stock to fund Wachovia deal (Reuters)

Filed Under (Personal Finance) by on 05-11-2008

Reuters - Wells Fargo & Co on Wednesday said it plans to sell at least $10 billion of stock to help fund its purchase of Wachovia Corp , which will create the fourth-largest U.S. bank by assets.

--- Reuters ...

GMAC has $2.52 billion loss; ResCap unit may fail (Reuters)

Filed Under (Personal Finance) by on 05-11-2008

A view of a five-bedroom and two-bath home in Detroit, Michigan September 23, 2007. (Rebecca Cook/Reuters)Reuters - Finance company GMAC LLC lost $2.52 billion in the third quarter, hurt by slumps in the housing and auto markets, and said its Residential Capital LLC mortgage unit may fail.

--- Reuters ...

GMAC 3Q loss widens, blames economic woes (AP)

Filed Under (Personal Finance) by on 05-11-2008

AP - GMAC Financial Services says its third-quarter loss widened to $2.52 billion, pulled down by steep losses at its mortgage division.

--- AP ...

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