May 31, 2006
Wells Fargo shuts down stock research operations
SAN FRANCISCO - Wells Fargo & Co. on Tuesday jettisoned a small division that evaluated individual stocks, citing a drop in revenue that made it increasingly difficult to support an operation unconnected to the bank's bread-and-butter business of gathering deposits and making loans.
ANZ buys stake in Vietnamese bank
ANZ Bank Ltd has agreed to acquire a 10 per cent stake in Vietnam-based Saigon Securities Incorporation for $US88 million ($102 million). Saigon Securities, an investment bank established in 2000, is listed on the Hanoi Stock Trading Centre.
SAN FRANCISCO (MarketWatch) -- Brazilian stocks closed at an all-time high Thursday, ahead of the holiday weekend. Click here for more info