Wachovia to buy back bonds Wachovia Corp. on Friday agreed to buy back as much as $8.8 billion in auction-rate securities and pay a $50 million fine, the latest bank caught in a regulatory crackdown of the bonds. The market for auction-rate securities has been quickly unraveling since the end of last week, when Citigroup Inc. announced that it would buy back $7.5 billion in the securities and pay $100 million in fines as part of its settlement with state and federal regulators. Since then, UBS, J.P. Morgan Chase & Co. and Morgan Stanley also settled.
Netflix clicks after hitch fixed Online DVD rental leader Netflix Inc. resumed normal shipments Friday after distribution centers had three days of technical problems, a spokesman said. It offered a 15 percent credit to customers.
