Reuters - Citigroup Inc posted a
smaller-than-expected quarterly loss, despite $11.7 billion of
write-downs and credit losses tied to deteriorating capital
markets and a slumping economy.
Investor's Business Daily - Home loan rates fell over the last week as Treasury yields fell sharply amid financial woes and views that the Fed won't hike rates this year. The 30-year fixed-rate mortgage fell to 6.26% for the week ended July 17 from 6.37% a week earlier, Freddie Mac said. The 15-year fixed-rate fell 13 basis points to 5.78% this week. The 5-year Treasury-indexed adjustable-rate mortgage edged down to 5.8%, while the 1-year ARM fell 7 ticks to 5.10%. Treasury yields have picked up in the last few days. -- read full article
Thu, 17 Jul 2008 22:46:49 GMT - Yahoo! News: Business
Reuters - India's No.3 information technology
outsourcer, Wipro Ltd , missed forecasts with a 15
percent rise in quarterly profit and expressed caution in the
near term due to slowing Western economies, echoing its larger
rivals. -- read full article
Fri, 18 Jul 2008 08:15:19 GMT - Yahoo! News: Business
Reuters - Australia's top airline, Qantas Airways
Ltd , will cut 4 percent of its workforce and scrap its
growth plan for the coming year, saying the business would be
at risk if it fails to offset soaring fuel prices. -- read full article
Fri, 18 Jul 2008 07:05:22 GMT - Yahoo! News: Business
Reuters - Housing starts took a surprising
jump in June, the government reported on Thursday, but only
because of a change in New York's building code that briefly
obscured a drop in single-family home-building. -- read full article
Thu, 17 Jul 2008 22:21:03 GMT - Yahoo! News: Business
Reuters - Mortgage giant Freddie Mac is
considering raising capital by selling as much as $10 billion
in new shares to investors, The Wall Street Journal reported,
citing people familiar with the matter. -- read full article
Fri, 18 Jul 2008 07:04:29 GMT - Yahoo! News: Business
Reuters - Microsoft Corp posted a
quarterly profit and outlook below Wall Street expectations on
Thursday, citing "tough" economic conditions, and its shares
fell 6 percent.
AP - Treasury prices fell Wednesday as a drop in oil prices and better-than-expected results from Wells Fargo & Co. drew investors back into the pummeled stock market. -- read full article
Wed, 16 Jul 2008 21:33:42 GMT - Yahoo! News: Business
Reuters - Investors snapped up shares of Freddie
Mac and Fannie Mae for a second day on Thursday
after Freddie pulled off its second successful debt sale
following Sunday's announcement of a U.S. rescue plan for the
two housing finance companies.
Reuters - Swiss bank UBS AG will
discontinue offshore banking and securities services to U.S.
residents through its branches, a UBS executive said on
Thursday at a congressional hearing on offshore tax havens. -- read full article
Thu, 17 Jul 2008 17:08:51 GMT - Yahoo! News: Business
Reuters - Stocks climbed more than 1 percent on
Thursday as oil prices dropped sharply for the third day, while
banks rallied after stronger-than-expected results from
JPMorgan Chase & Co.
Reuters - JPMorgan Chase & Co posted a
smaller-than-expected drop in earnings on resilient stock and
bond underwriting revenue, sending its shares surging, but the
company cautioned that the mortgage market and the economy are
getting worse. -- read full article
Thu, 17 Jul 2008 17:53:51 GMT - Yahoo! News: Business
Reuters - Housing starts took a surprising
jump in June, the government reported on Thursday, but only
because of a change in New York's building code that briefly
obscured a drop in single-family home building. -- read full article
Thu, 17 Jul 2008 16:21:18 GMT - Yahoo! News: Business
AP - Wal-Mart, the nation's largest retailer, has pledged to buy more produce from local farmers as it kicked off a campaign to highlight the fruits and vegetables grown in Oklahoma and sold in its stores.
