Merill Lynch posts loss of 4.6 bln dlrs, sheds assets

Wall Street investment giant Merrill Lynch on Thursday announced a quarterly loss of 4.6 billion dollars, driven by hefty writedowns from its bets on the US real estate market.Merrill, which has been roiled by its exposure to the US subprime mortgage crisis, also said it would shore up its capital with the sale of some [...] continue reading world news