U.S. stock losses mount as financial-sector shakeups take toll

Date: Mon, 02 Jun 2008 12:03:11 -0400
U.S. stock losses mount as financial-sector shakeups take toll

U.S. stocks started lower on Monday ahead of U.S. manufacturing data
likely to illustrate another month of an industry slowdown, as a warning
from British lender Bradford & Bingley Plc revived worries about credit
losses.

China Telecom pays $15.9 billion for Unicom's CDMA assets

China Telecommunications Group, China's largest fixed-line operator, has
agreed to pay the equivalent of $14.4 billion)to acquire the
CDMA-cellular-network assets of China Unicom Group, part of a sweeping
overhaul of the mainland's telecom industry.

Subprime mortgage mess claims another bank CEO

Ken Thompson, chief executive of Wachovia Corp., on Monday became the
latest CEO casualty of the U.S. housing downturn and related fallout
from the subprime mortgage crunch.

U.K.'s Bradford & Bingley issues warning, scales back offer

Shares of Bradford & Bingley plummet in London, as the U.K. lender
scales back a planned issue of discounted stock and as its chief
executive steps down due to a health problem.