Mortgage and Financial News From 2008-7-16 Page 3
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Australian stocks open higher - News.com.au
AUSTRALIAN stocks are trading sharply higher today led by the banks after Wall Street soared and oil prices tumbled overnight. At 10:20 am , the benchmark S&P/ASX 200 Index climbed 51.7 points, or 1.09 per cent, to 4922.3 in early trading. The ...
2008-07-16 05:21:00 -
Market awaits Merrill Lynch results - Boston Globe
NEW YORK— The global tally of write-downs from the credit crisis set to grow by about $6 billion on Thursday when Merrill Lynch & Co. delivers what's expected to be a dismal quarterly report. The world's largest brokerage, beset by losses from ...
2008-07-16 03:33:00 -
Fannie, Freddie shares jump in broad financial rally - Reuters India
NEW YORK (Reuters) - Fannie Mae and Freddie Mac shares had their best day in more than two decades on Wednesday after Wells Fargo's strong earnings spread relief across Wall Street, even as a plan to prop up the two mortgage finance titans met ...
2008-07-16 05:42:00 -
Wells Fargo results ease fears, shares surge - Reuters
NEW YORK (Reuters) - Wells Fargo & Co (WFC.N: Quote , Profile , Research , Stock Buzz ), the fifth-largest U.S. bank, reported surprisingly strong quarterly results and raised its dividend, easing investor fears about mortgage losses and causing its ...
2008-07-16 03:05:00 -
Source: FBI investigating Indymac for fraud - CNN
The California-based bank was taken over by federal regulators last week. Indymac's collapse was the second-largest bank failure in U.S. history.
2008-07-16 04:30:00 -
Washington Mutual shares rise sharply - Forbes
Shares of national bank Washington Mutual Inc. rose sharply Wednesday, getting a boost from better-than-expected earnings results at Wells Fargo & Co. and a significant rise in the broader market. Washington Mutual shares rose 92 cents, or 25.5 ...
2008-07-16 03:55:00 -
How safe is your bank? - St. Petersburg Times
Some 200 anxious customers gather Tuesday outside an IndyMac Bank branch in Encino, Calif., demanding their money back during the second day of the failed institution’s federal takeover. Police were called to maintain order. For starters, go to our ...
2008-07-16 04:49:00 -
GOP senator on mortgage bailout: 'Socialism is alive and well in ... - Los Angeles Times Blogs
Republican Sen. Jim Bunning of Kentucky today slammed the Bush administration's proposal to bail out Fannie Mae and Freddie Mac, declaring, "socialism is alive and well in America." "When I picked up my newspaper yesterday, I thought I woke up in ...
2008-07-16 04:02:00 -
Ethics czar clears Flaherty on conflict allegation - Globe and Mail
OTTAWA — The federal ethics watchdog cleared Jim Flaherty of any wrongdoing Wednesday following a probe into whether the finance minister violated conflict-of-interest rules by giving tax breaks to private school students. Mr. Flaherty introduced a ...
2008-07-16 03:33:00 -
Business Highlights - Boston Globe
WASHINGTON (AP) -- In the latest shock wave to hit the economy, consumer prices rose 1.1 percent in June from the month before, far faster than the expected rate of 0.7 percent and almost double the reading from May, the Labor Department said ...
2008-07-16 04:52:00 -
Fannie, Freddie: Taxpayers on the hook - CNN Money
NEW YORK (CNNMoney.com) -- Saving Fannie Mae and Freddie Mac could cost the U.S. taxpayer. But so could letting the two mortgage giants collapse. A rescue plan that uses federal dollars would risk increasing the deficit and possibly lowering the U.S ...
2008-07-16 02:50:00 -
MPs' expenses limit cut proposed - Hounslow Guardian
MPs will still be allowed to spend thousands of pounds of taxpayers' money kitting out their second homes under reforms of their expenses put forward by the Government. While moving to scrap the controversial "John Lewis list", Leader of the House ...
2008-07-16 02:00:00 -
Mortgages & homes - Mortgage features - This is Money
Nationwide has lowered both its fixed and tracker rates by up to 0.46% but only for customers with at least a 25% deposit. Rates however have also eased back slightly for those with smaller deposits but still remain at 6.5%-plus for those borrowing ...
2008-07-16 09:21:00 -
Canada's fundamentals ‘solid:' Flaherty - Globe and Mail
CALGARY — Despite economic woes plaguing the United States and volatility in the financial markets, Canada has “solid” fundamentals that are the envy of the world, Federal Finance Minister Jim Flaherty said Wednesday. “We are going through ...
2008-07-16 02:29:00 -
Nationwide mortgage rate cuts suggest worst could be over - Daily Telegraph
The worst of the turmoil in the mortgage market could be over, experts have said, after one of the country's largest lenders cut its rates for the second time in as many weeks. Nationwide, the country's second-largest mortgage company, has dropped ...
2008-07-16 04:16:00