Reuters - Freddie Mac won approval
from regulators on Friday to sell the stock needed to overcome
mounting losses, and the Wall Street Journal said the mortgage
finance company may seek $10 billion.
AP - Platinum prices fell to a five-month low Friday as a sagging U.S. economy and a push to build smaller cars prompt automakers to buy less of the metal used in catalytic converters. -- read full article
Fri, 18 Jul 2008 18:35:24 GMT - Yahoo! News: Business
Reuters - Yahoo Inc's second largest
institutional shareholder Legg Mason Capital Management said on
Friday it will back Yahoo's board, dealing a blow to a
billionaire investor Carl Icahn's efforts to get a rival board
slate elected.
Reuters - In a rare slip for Google Inc
, Yahoo Inc and Microsoft Corp gained
share as Google lost ground in the Web search market in June,
industry data released on Friday shows. -- read full article
Fri, 18 Jul 2008 18:52:54 GMT - Yahoo! News: Business
Reuters - The Nasdaq and S&P 500 stock indexes
fell on Friday after disappointing results from Google Inc
and Microsoft Corp drove a technology
sell-off.
Reuters - U.S. regulators on Friday approved
Freddie Mac's application to register its stock with
the U.S. Securities and Exchange Commission, clearing the way
for the troubled mortgage finance company to raise fresh
capital. -- read full article
Fri, 18 Jul 2008 17:32:17 GMT - Yahoo! News: Business
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
