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By Jonathan Stempel 47 minutes ago NEW YORK (Reuters) - Wachovia Corp (WB.N), the fourth-largest U.S. bank, said on Monday it expected to eliminate 11,350 jobs, more than it previously disclosed, as conditions deteriorate in the housing market.
Separat..
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Fri Aug 8, 7:48 PM ET NEW YORK (Reuters) - Wachovia Corp (WB.N), the fourth-largest U.S. bank, will stop making mortgage loans through its branch offices in 19 U.S. states, a published report said.
The bank will eliminate 125 jobs in connection with th..
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2 hours, 37 minutes ago NEW YORK (Reuters) - Wachovia Corp (WB.N) shares fell as much as 10 percent on Friday after a downgrade by a Morgan Keegan & Co analyst, who said the stock's 73 percent rise in seven trading days wasn't justified in light of its..
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By Jonathan Stempel 1 hour, 10 minutes ago NEW YORK (Reuters) - Wachovia Corp (WB.N) led several large U.S. banks in posting weak second-quarter results on Tuesday, as soaring losses from mortgages and other debt led to large write-downs.
The loss for..
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38 minutes ago NEW YORK (Reuters) - Wachovia Corp (WB.N), the fourth-largest U.S. bank, on Tuesday posted an $8.86 billion second-quarter loss, slashed its dividend and announced 6,350 job cuts after losses tied to mortgages soared.
Its shares fell $1...
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46 minutes ago NEW YORK (Reuters) - Wachovia Corp (WB.N), the fourth-largest U.S. bank, on Monday said its main mortgage unit will stop offering home loans through brokers this week, joining a growing number of lenders to curb wholesale lending.
"We th..
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By Anastasija Johnson 2 hours, 15 minutes ago NEW YORK (Reuters) - Downgrades of three U.S. investment banks, an ouster of Wachovia's chief executive, and a bleak U.K. housing market outlook from a British mortgage lender shook markets on Monday, reigni..
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By Walker Simon 50 minutes ago NEW YORK (Reuters) - Stocks slid on Monday on renewed fears the credit crunch has yet to run its course after Standard & Poor's cut its ratings on three big securities firms, Wachovia ousted its chief executive, and a Brit..
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By Jonathan Stempel 6 minutes ago BANGALORE (Reuters) - Wachovia Corp (WB.N) said on Monday it ousted Ken Thompson as chief executive of the fourth-largest U.S. bank, in the wake of mounting legal and regulatory troubles and an ill-fated purchase of a b..
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1 hour, 2 minutes ago BOSTON (Reuters) - Wachovia Corp (WB.N), battered by mounting losses from mortgages and other debt and facing increasing regulatory scrutiny, is undertaking an independent review of its risk and compliance processes and cutting job..
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Sat Apr 26, 1:43 PM ET CHICAGO (Reuters) - Wachovia Corp (WB.N) is being investigated by federal prosecutors as part of a probe into alleged laundering of drug proceeds by Mexican and Colombian money-transfer companies, The Wall Street Journal reported..
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25 minutes ago NEW YORK (Reuters) - Wachovia Corp (WB.N) posted a surprising first-quarter loss on Monday as credit problems from mortgages and other debt soared, prompting the bank to cut its dividend and raise $7 billion in capital.
The fourth-larges..
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By Jonathan Stempel 1 hour, 24 minutes ago NEW YORK (Reuters) - Bank of America Corp and Wachovia Corp, the second- and fourth-largest U.S. banks, said on Tuesday quarterly profits were nearly wiped out by more than $10 billion of write-downs and credit..
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By Jonathan Keehner and Jonathan Stempel Mon Dec 31, 8:47 AM ET NEW YORK (Reuters) - As more banks report write-downs tied to the global credit crunch, analysts say Wachovia Corp (WB.N) may have losses lurking in an area that has garnered less investor..
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1 hour, 37 minutes ago NEW YORK (Reuters) - The shares of two of the largest banks in the United States, Bank of America (BAC.N) and Wachovia Corp (WB.N), fell on Wednesday after their chief executives warned of fourth-quarter write-downs and loan losse..
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By Jonathan Stempel 58 minutes ago NEW YORK (Reuters) - The U.S. credit crisis deepened on Friday as Wachovia Corp reported a $1.1 billion loss on subprime mortgage-related debt in October, while Capital One Financial Corp said more customers are missin..
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2 hours, 5 minutes ago NEW YORK (Reuters) - Stock index futures slid further on Friday as Wachovia Corp (WB.N), the fourth-largest U.S. bank, disclosed exposure to securities linked to subprime mortgages, heightening investor concern about the impact of..
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By Joseph A. Giannone 22 minutes ago NEW YORK (Reuters) - Wachovia Corp (WB.N), the fourth-largest U.S. bank, on Friday said it incurred about $1.1 billion of losses in October on mortgage securities as a year-long credit market slump shows no signs of..
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1 hour, 6 minutes ago NEW YORK (Reuters) - Merrill Lynch & Co. (MER.N) Chief Executive Stan O'Neal broached the idea of merging with Wachovia Corp. (WB.N) without first getting board approval, angering some members so much they considered replacements f..
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By Jonathan Stempel 2 hours, 16 minutes ago NEW YORK (Reuters) - Wachovia Corp (WB.N) on Friday posted a 10 percent decline in quarterly profit, missing forecasts, as the fourth-largest U.S. bank suffered $1.3 billion of write-downs at its investment ba..
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