Reuters - Fannie Mae, the largest provider of
funding for U.S. residential mortgages, on Wednesday said it
grew its investment portfolio in June at the fastest annualized
rate in nearly five years.
Reuters - The Nasdaq turned negative on
Wednesday, while the Dow and the S&P 500 pared gains, as a
rebound in oil prices and a drop in financial shares punctured
Wall Street's earlier rally.
Reuters - Merrill Lynch's agreement to sell
$30.6 billion of toxic securities gives away the bank's
potential profits on the securities and leaves it on the hook
for most of the risk, strategists at Bank of America wrote on
Wednesday.
Reuters - The U.S., European, and Swiss
central banks on Wednesday extended emergency lending
facilities for investment banks and expanded other liquidity
programs to ease credit market strains that have weighed on the
global economy for nearly a year.
AP - Denny's Corp. said Tuesday that its net income plummeted in the second quarter because of the sale of some company stores and weak consumer spending. -- read full article
Tue, 29 Jul 2008 22:26:08 GMT - Yahoo! News: Business
Investor's Business Daily - Some 62% of American investors believe the economy is contracting, according to a survey by asset management firm Schroders. But 94% said they still expect to profit from their investments during the next 12 months. The economy grew at a 1% annual rate in Q1 and Wall Street estimates that growth accelerated to a 2.3% pace in Q2. But falling home prices, the credit crunch and high energy prices have hurt sentiment. -- read full article
Tue, 29 Jul 2008 22:50:59 GMT - Yahoo! News: Business
Reuters - GMAC and Ford Motor Credit disclosed
steps on Tuesday to cut back on auto leases in a move that
leaves automakers facing the risk of even more pressure on auto
sales already at decade lows.
Reuters - MetLife Inc , the largest U.S.
life insurer, said on Tuesday its second-quarter profit fell on
investment losses and a decline in insurance earnings, sending
its shares sliding nearly 10 percent.
Reuters - Nintendo Co Ltd's (7974.OS) quarterly
profit rose 31.5 percent on the runaway success of its Wii game
console, but the Japanese video game maker kept its annual
outlook well short of market expectations.
Reuters - As the rout in oil prices nears the
20 percent mark that for stocks would signal a bear market,
many analysts offer a word of caution -- don't mistake a
healthy correction for the end of a multi-year bull trend.
Reuters - Kohlberg Kravis Roberts & Co's
plan to merge with a struggling affiliate and then
list on the New York Stock Exchange will help the giant buyout
firm expand at an ideal time for making acquisitions, KKR
executives said on Monday.
AP - Just for a minute let's set aside all the bad things plaguing the financial world. Even in these gloomy times, there's some good news worth checking out. -- read full article
Tue, 29 Jul 2008 17:52:38 GMT - Yahoo! News: Business
Reuters - Stocks rose more than 1 percent on
Tuesday as a drop of over $3 in the price of oil and data
showing a rise in consumer confidence reduced worry about
inflation and consumer spending.
Reuters - Oil fell to its lowest level in nearly
three months on Tuesday, extending a steep slide since mid-July
on mounting evidence high prices and a souring economy were
cutting into world energy demand.
