• Most Popular
  • Most Shared

Ambac rescue could be announced Mon or Tues: report

NEW YORK
Fri Feb 22, 2008 3:56pm EST

Stocks

   

NEW YORK (Reuters) - Banks rescuing Ambac Financial Group Inc (ABK.N) could announce a plan as soon as Monday or Tuesday, CNBC's Charles Gasparino said on Friday.

The details of the deal are still being worked out and the plan may fall through, Gasparino said.

Ambac shares rose after the report, trading at $9.90, up 7.3 percent, in trading on Friday afternoon.

(Reporting by Dan Wilchins; Editing by Andre Grenon)



More from Reuters

Photo

Honda expands airbag recall as more Toyotas probed

TOKYO/DETROIT (Reuters) - Honda Motor Co said it would recall another 440,000 cars around the world for faulty airbags as rival Toyota Motor Corp faced further probes over its largest-ever safety crisis. | Video

A worker walks on steel frames at a construction site in central Beijing January 27, 2010. REUTERS/Loic Hofstedt
Analysis:

China's boom may lead to bust

The housing market is becoming the investment of choice for the Chinese, which is making policymakers very nervous.  Full Article