Mortgage and Financial News From 2008-3-9 Page 10

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  • At the Edge of Recession

    Washington Post - ... faces the prospect of a sharp recession, made all the likelier by the probable default of several million additional mortgages ... Second, communities where foreclosures cluster are hit with a double whammy -- a need for more public safety and other ...
    2008-03-08 09:11:00

  • American economic news piles on the agony

    Times Online - The US employment data on Friday showed a further 63,000 non-farm workers losing their jobs - the second consecutive month ... GE Capital also has billions of dollars of exposures in non-sub-prime mortgages, sub-prime consumer and nonUS auto lending
    2008-03-09 04:26:00

  • New Zealand Dollar Falls as U.S. Jobs Drop Hits High-Yielders

    Bloomberg - The kiwi dropped to as low as 66.41 cents in August as rising defaults in U.S. subprime, or high risk, mortgages spurred a ... New Zealand government bonds rose for a second straight day. The yield on the 6 percent note due December 2017 fell 5 basis ...
    2008-03-09 01:41:00

  • Australia's Home-Loan Approvals Probably Rose 1% in January

    Bloomberg - About 90 percent of Australian mortgages are taken out on a so-called floating rate, which move with the central bank's ... Growth in the construction industry slowed in February for a second month, an Australian Industry Group report showed last ...
    2008-03-09 04:04:00

  • Fitch cuts WaMu rating, may cut other banks

    Reuters - ... and said it may cut Bank of America Corp (BAC.N: Quote , Profile , Research ) and Citigroup (C.N: Quote , Profile , Research ), due to their exposures to residential mortgages. Fitch cut WaMu's ratings two notches to "BBB," the second lowest investment ...
    2008-03-07 03:36:00

  • Banks may lose $325 billion over mortgages (MSNBC)

    Wall Street banks are facing a "systemic margin call" that may deplete banks of $325 billion of capital due to deteriorating subprime U.S. mortgages, JPMorgan Chase & Co., said in a report late on Friday.
    2008-03-09 01:50:50

  • New Zealand Dollar Falls as U.S. Jobs Drop Hits High-Yielders (Bloomberg.com)

    March 10 (Bloomberg) -- New Zealand's dollar fell for a third day as a decline in U.S. payrolls boosted concern the world's largest economy is headed for recession, prompting investors to cut holdings of higher-yielding assets.
    2008-03-09 02:06:35

  • US Eco Slumps (Australasian Investment Review via Yahoo!7 Finance)

    Twice now since the start of the year US stockmarket indices have flirted with steep falls and near death experiences. And twice the US Federal Reserve has stepped in with a major move to steady a shrinking ship. The first, on January 22, came after markets plunged in Australia, Asia and Europe with the US closed on a Monday for a public holiday. With US market futures signalling a 500 point ...
    2008-03-09 02:08:00

  • Islamic financial products soak up growing share of Gulf money (The Daily Star Lebannon)

    The market for Islamic finance and banking is growing rapidly in the oil-rich Gulf thanks to burgeoning wealth and attractive financial instruments. Studies have put the total value of Islamic equity funds in the Gulf at around $30 billion, said Khaled al-Masri, partner in asset management at Dubai-based Rasmala Investments.
    2008-03-09 02:11:32

  • The global economic party has ended (The Japan Times)

    MUNICH — With the United States teetering into recession, the global economic boom has ended. The boom was unusually long and persistent, with four years of roughly 5 percent growth — a period of... Read more ...
    2008-03-09 02:16:13

  • Stocks may fall anew on recession fears (Muzi)

    U.S. stocks could face a further pounding this week as evidence mounts that the economy has entered a recession and problems in the financial sector accelerate.
    2008-03-09 02:17:34

  • Reuters Business Summary (Reuters via Yahoo! Malaysia News)

    FBI starts criminal probe into Countrywide, reports NY Times
    2008-03-09 03:12:30

  • POLITICS OF THE BUDGET (The Telegraph)

    After the budget was announced, there has been a precipitous decline in the stock market, severe criticism of some proposals — especially the bank loan write-offs for farmers, of the lack of transparency about how banks are to be reimbursed, the moral hazards in writing off, the inflationary pressures that will be unleashed, the lack of measures to improve efficiency and effectiveness in ...
    2008-03-09 02:34:47

  • Facebook could cause "privacy chernobyls" (ZDNet Australia)

    Gathered at the Legal Futures Conference at California's Stanford University over the weekend, online legal experts have again raised their concerns that the rise and rise of Web 2.0 has come at the expense of individual privacy.
    2008-03-09 04:10:25

  • News: Paulson defends economic policies: Treasury Secretary says dollar will strengthen, calls economy "sound" (Stanford Daily)

    Paulson has recently avoided the claim that the U.S. economy is slipping into a recession, instead touting the Bush administration’s $152 billion stimulus package designed to resuscitate the economy.
    2008-03-09 03:10:09

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