Merrill Lynch is expected to suffer $15 bn (EUR 10.1 bn) in losses stemming from soured mortgage investments, almost twice the company's original estimate, the New York Times reported Friday. The losses are prompting the company to raise around $4 bn in coming days from an outside investor, the newspaper reported on its website. The bank is due to disclose the huge write down when it reports earning next week. The loss exceeds the $12 bn hit that many Wall Street analysts had forecast.
Premium subscriber content – please log in to read more or take a free trial.
