Mortgage and Financial News From 2008-5-7 Page 7
Previous Day: 2008-05-06
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Luxottica to launch $300 mln bond - report - Forbes
MILAN (Thomson Financial) - Eyewear company Luxottica Group SpA is planning to place $300 million worth of 10-year bonds with institutional investors, the daily Il Sole 24 Ore said, citing financial sources. The group is expected to hold an informal ...
2008-05-07 01:18:00 -
House Set to Pass Housing Rescue Bill - CNBC
The House is due Wednesday to begin debating a housing rescue package that could see the government buy up $15 billion of abandoned homes and help an estimated half million homeowners facing foreclosure. The sweeping bill would offer fresh spending ...
2008-05-07 03:49:00 -
RLPC-Russia's Norilsk seeks $1.3 bln loan-sources - Reuters
LONDON, May 7 (Reuters) - Russian miner Norilsk Nickel (GMKN.MM: Quote , Profile , Research ) has appointed seven banks as bookrunners to arrange a $1.3 billion, three-year syndicated loan that will partly refinance a $6 billion loan it secured last ...
2008-05-07 02:59:00 -
Housing rescue package set for House vote - Los Angeles Times
WASHINGTON -- A broad housing rescue package aimed at preventing foreclosures would have the government step in to insure up to $300 billion in new mortgages for struggling homeowners. The plan, designed to stabilize a key sector of the shaky economy ...
2008-05-07 03:34:00 -
Metro/State briefs - Detroit News
Lionel LLC 's chief executive says the toy train maker has moved its headquarters to New York to focus on expanding retail sales, but is keeping its longtime hobby business and other operations in the Detroit area. Jerry Calabrese said Tuesday he has ...
2008-05-07 03:06:00 -
Wachovia hit by policies revaluation - Financial Times
Wachovia , the fourth-largest US bank by assets, on Tuesday nearly doubled the size of its first-quarter loss to $708m after adding $315m in writedowns on the value of life assurance policies it takes out on its own employees. The fresh writedown ...
2008-05-06 11:02:00 -
Consumer squeeze bites - Times Online
Households are being forced to spend more of their income on essential expenses than at any time since 1991 as the cost of living spirals, a leading economic consultancy said yesterday. The average household spends 31 per cent of its income on ...
2008-05-07 03:13:00 -
Ten reasons for rate reprieve as Reserve Bank meets - News.com.au
PLUMMETING consumer confidence, a weakened housing sector and higher mortgage repayments are among 10 key reasons why the Reserve Bank should leave interest rates on hold today. But homeowners won't have much to sing about, with major lenders this ...
2008-05-05 07:55:00 -
Zero interest rate cools off investors - Baltimore Sun
HARRISBURG, Pa. - A quirk of the municipal bond market that left some borrowers paying exorbitant interest rates has suddenly reversed and pushed interest rates to zero on billions of dollars in debt. Investors stuck with those bonds are now ...
2008-05-07 12:07:00 -
U.S. loosens rules for mortgage help - International Herald Tribune
President George W. Bush predicted last August that a plan introduced by the administration to assist American borrowers trying to cope with adjustable-rate mortgages would help tens of thousands of people. Mortgage industry executives were skeptical ...
2008-05-05 10:03:00 -
Mortgage delinquency rates double in Washington region - San Francisco Examiner
The metro region is feeling the effects of nationwide mortgage troubles, as a new data reveals the number of borrowers with mortgage payments at least 60 days late doubled or almost doubled — and in some cases tripled — in all counties in the ...
2008-05-07 02:52:00 -
Commerzbank 1Q profit drops 54 percent - Boston Globe
FRANKFURT, Germany— Commerzbank AG, Germany's second-biggest bank, said Wednesday that its first-quarter profit slid 54 percent because of more write-downs related to the U.S. subprime mortgage crisis and said it may miss its targets for 2008. The ...
2008-05-07 12:36:00 -
The UK Insolvency Helpline to Offer Repossession Counselling - PR Newswire
LONDON, May 6 /PRNewswire/ -- The UK Insolvency Helpline, Britain's leading debt advice organisation has launched a new service to aid UK homeowners avoid eviction and repossession. The service has been developed to concentrate expertise on ...
2008-05-06 11:57:00 -
Harried homeowners seek out help - Philadelphia Inquirer
Though foreclosure filings in the Philadelphia region are down so far this year, the faltering economy is pushing many homeowners right to the brink. "At first, we were seeing mostly subprime borrowers, but with higher food and gas prices and ...
2008-05-07 12:00:00 -
BofA gets advice on buy - Charlotte.com
Bank of America Corp. should consider cutting the $4 billion price it plans to pay for Countrywide Financial Corp. if the mortgage company's past profits were based on bad lending practices, U.S. Senator Charles Schumer said. "These latest ...
2008-05-06 11:31:00