Merrill Lynch reports 3Q loss after US$7.9b subprime write-down
Merrill Lynch & Company Inc on yesterday reported its first loss in six years after writing down US$7.9 billion of bad bets on risky subprime mortgages and related securities. "The bottom line is we got it wrong by being overexposed to subprime," Merrill Lynch Chairman and Chief ...
Supply fears push up oil prices
Oil raced higher on Wednesday after a sharp fall in United States (U.S.) inventories stirred up fears of a supply shortfall ahead of winter.At midday, U.S.crude rose $1.28 to US$86.55 a barrel, erasing three days of losses that dragged prices down from a record $90.07 struck on Frida
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