Germany's biggest bank, Deutsche Bank, dropped earnings targets for 2008 after posting Tuesday its first quarterly loss in five years as a result of the global credit squeeze.

Credit Suisse Group has posted a worse-than-feared first quarter net loss of 2.148 billion Swiss francs, after a profit of 2.729 billion the year before, caused by fresh writedowns over 5.281 billion related to leveraged finance and structured products bu

Earnings results from banks and bond insurers show that subprime mortgage pain is worsening and may stretch beyond the second quarter or longer. As a result, investors are mostly avoiding their bonds and stocks for now.

Consumer sentiment rebounded in July from a 28-year low and business investment rose unexpectedly last month, according to data on Friday that showed rare signs of resilience for the U.S. economy.

WaMu's Kerry Killinger loses his chairman's title as the company continues to deal with the mortgage finance crisis, but he'll keep his job as chief executive officer.