Mortgage and Financial News From 2008-9-10 Page 10
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UPDATE 1-Next H1 profit falls 12 percent - CNBC
LONDON, Sept 10 (Reuters) - British fashion retailer Next Plc posted a 12 percent fall in first-half pretax profit on Wednesday but said its internal forecast for the full year remained in line with the market consensus. The UK's second-largest ...
2008-09-09 11:53:00 -
Stocks in Europe, Asia Decline; U.S. Index Futures Advance - Bloomberg
Sept. 10 (Bloomberg) -- Stocks in Europe and Asia declined for a second day on concern banks may post more credit losses and the economic slowdown will hurt demand for basic resources. U.S. index futures advanced. Barclays Plc and UBS AG led banks ...
2008-09-10 12:29:00 -
Mortgage firm Countrywide, in response to alleged data breach, offers ... - Los Angeles Times
Countrywide Financial Corp. is offering two years of free credit monitoring to customers whose sensitive personal information, including Social Security numbers, allegedly was stolen from the home lender's computer files. In one of the largest data ...
2008-09-09 11:32:00 -
Lehman posts US$3.9 billion loss (Investment Executive)
Troubled investment bank Lehman Brothers reported its results a week early, revealing a larger than expected US$3.9 billion loss for the third quarter.
2008-09-10 07:25:53 -
Lehman plans asset sales, reports 3Q loss (Bradenton Herald)
Lehman, battling the nation's worst financial crisis since the Depression, also said it would spin off a troubled real estate unit and slash its dividend. Those moves come as the nation's fourth largest investment bank reported an almost $4 billion third-quarter loss, boosting its losses so far this year to about $6.5 billion.
2008-09-10 07:32:54 -
/R E P E A T -- Xceed Mortgage Issuing Fiscal 2008 Third-Quarter Results On September 11; Conference Call at 10:00 ... (CNW Group via Yahoo! Finance)
Xceed Mortgage Corporation , a Canadian provider of insured mortgages, today announced that it will release financial results for its fiscal 2008 second-quarter results early on Thursday, September 11, 2008 and will hold a conference call for analysts and investors that day at 10:00 a.m. .
2008-09-10 08:00:00 -
Lehman plans asset sales, reports 3Q loss of almost $4 billion (San Jose Mercury News)
NEW YORK — Lehman Brothers, in a desperate bid to survive, announced plans Wednesday to sell a majority stake in its prized investment management business and said a sale of the entire company was possible.
2008-09-10 08:17:04 -
Mortgage rescue gives hope to credit, housing markets - Globe and Mail
WASHINGTON — The U.S. government has seized control of giant mortgage lenders Fannie Mae and Freddie Mac , warning that letting them fail would have caused cascading financial chaos, wiping out vast swaths of household wealth and blocking millions ...
2008-09-08 04:28:00 -
Redrow calls for more help for housebuilders - Guardian Unlimited
The government needs to step up its efforts to aid housebuilders as the industry struggles through an unprecedented downturn, according to one of the sector's leading companies, Redrow. Alan Bowkett, chairman, said the government's recently announced ...
2008-09-09 07:07:00 -
Vague promises give way to hard public dollars - Business Day South Africa
WHEN US Treasury Secretary Hank Paulson announced the initial version of the Fannie Mae and Freddie Mac rescue in July — seeking authority to support them financially if necessary — the market called his bluff. Funding costs for the mortgage ...
2008-09-09 09:45:00 -
A defining year - Independent
The terrible year suffered by the Irish stock exchange was only the tip of the iceberg as it seemed bad news was all around, but there were reasons to be cheerful for savers and homeowners. THE year just ending was a mixed one in terms of personal ...
2008-09-09 11:53:00 -
Barratt axes final dividend on profit slump - Times Online
Barratt Developments gave warning today that there was little sign of an improvement in the housing market, as it reported a 67 per cent slump in pre-tax profits. The heavily-indebted housebuilder, which has spent the summer struggling to put its ...
2008-09-10 12:01:00 -
NZ dollar rebounds on firmer Aussie, RBNZ awaited - Forbes
WELLINGTON, Sept 10 (Reuters) - The New Zealand dollar rebounded on Wednesday, helped by a recovery in the neighbouring Aussie, as investors awaited the central bank's policy announcement due the following day. The market has fully priced in a ...
2008-09-10 12:01:00 -
Takeover gives rates 'a shot in the arm' - San Francisco Gate
Wednesday, September 10, 2008 "We saw the impact within hours (on Monday), and on Tuesday there were both price improvements and deteriorations," said Lara Blake, a senior associate at mortgage broker Holmgren & Associates in Oakland. She and others ...
2008-09-09 10:06:00 -
Bear Stearns to pay $28M to settle FTC charges - Boston Globe
NEW YORK— The Bear Stearns Cos. and its EMC Mortgage Corp. subsidiary agreed to pay $28 million to settle charges brought by the Federal Trade Commission that they used unlawful practices to collect payments on risky home mortgage loans, the ...
2008-09-09 02:49:00