webmaster @ October 9, 2008 # No Comment Yet
A degree of calm returned to the world’s stockmarkets today following yesterday’s coordinated global rate cut.
In London, the FTSE 100 jumped more than 3% at one stage this morning to a high of 4512, up 145 points, and was up 82 points mid-afternoon. Banks continued to recover following the UK goverment’s £500bn rescue plan announced [...]
webmaster @ October 8, 2008 # No Comment Yet
Stock futures fell as enthusiasm waned following rate cut by Fed and other central banks
NEW YORK (CNNMoney.com) — U.S. stock futures pointed to a lower open, as the initial enthusiasm following the Federal Reserve’s announcement of an emergency rate cut wore off.
U.S. futures were volatile all morning, initially trading sharply lower on the heels [...]
webmaster @ October 8, 2008 # No Comment Yet
Fed futures show more expecting ease in policy after Bernanke speaks
NEW YORK (MarketWatch) — Treasury prices fell Tuesday, pushing short-term yields up for the first time in a week, after Ben Bernanke hinted the Federal Reserve is open to lower interest rates and the central bank moved to purchase commercial paper to ease corporate borrowing [...]
webmaster @ October 5, 2008 # No Comment Yet
A sworn affidavit filed this weekend in federal court by Wachovia Corp. Chief Executive Robert K. Steel paints a picture of a perilous situation in which the eighth-largest U.S. bank in stock-market value was caught between competing takeover bids while facing enormous pressure from the Federal Deposit Insurance Corp. to sell itself.
The affidavit suggests that [...]
webmaster @ October 5, 2008 # No Comment Yet
NEW YORK (MarketWatch) — France’s largest bank, BNP Paribas SA, is set take control of the Belgian businesses of troubled finance group Fortis via a 8.25 billion euros ($11.3 billion) stock deal, Prime Minister Yves Leterme was quoted as saying Sunday in reports.
BNPQ.buying 75% of Fortis Bank Belgium from the Belgian government. It will [...]
webmaster @ October 5, 2008 # No Comment Yet
NEW YORK – A delayed top-of-the-line BlackBerry phone from Research in Motion Ltd. is still undergoing testing by AT&T Inc., and RIM’s co-CEO implied that the carrier wants to avoid the chorus of complaints about performance that greeted the new iPhone this summer.
RIM said in May that the BlackBerry Bold 9000 would go on sale [...]
webmaster @ October 4, 2008 # No Comment Yet
As much as we hate that true, no-strings-attached unlimited data plans are being killed off one by one, we appreciate that carriers have had the common decency (well, sometimes) to impose caps as “soft” ones — going over repeatedly might irk ‘em into throttling your bandwidth or tearing up your contract, but at least [...]
webmaster @ September 30, 2008 # No Comment Yet
The critical part of the bailout is the price the government pays for the trash assets it buys from banks. In short, if the government pays too much, the taxpayers will get hosed.
So it is interesting to note the difference between the price the government is proposing to pay and the price one of the [...]
webmaster @ September 28, 2008 # No Comment Yet
By Lori Montgomery and Paul Kane
Washington Post Staff Writers Sunday, September 28, 2008; 12:47 AM
Congressional leaders and the Bush administration last night struck a historic accord to insert the government deeply into the nation’s financial markets, agreeing to spend up to $700 billion to relieve Wall Street of troubled assets backed [...]
webmaster @ September 26, 2008 # No Comment Yet
It’s a scary time for bank customers. But most accounts are safe. Here’s what you need to know.
By CNNMoney.com staff
Washington Mutual, once the nation’s largest thrift and rocked by bad lending on real estate, had been reportedly teetering on failure. On Thursday regulators seized the bank and arranged a takeover by JPMorgan Chase.
And experts and [...]