Mortgage and Financial News From 2008-1-16 Page 71
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JPMorgan reports 34% drop in quarterly profit (Crain's New York Business)
Its exposure to submprime mortgages devalued its portfolio by $1.3 billion; the decline was blamed on worse-than-expected results in home equity loans.
2008-01-16 05:53:23 -
Wells Fargo fourth-quarter profit falls 38% (Toronto Star)
NEW YORK (Reuters) – Wells Fargo & Co today said fourth-quarter profit fell 38 per cent, the first decline in more than six years, hurt by rising losses from home equity loans.
2008-01-16 05:56:27 -
Wells Fargo 4Q profit drops 38 percent (The Bellingham Herald)
SAN FRANCISCO -- Wells Fargo Inc., one of the nation's largest banks, said Wednesday fourth-quarter earnings fell 38 percent, hurt by a charge to cover fallout from the subprime loan crisis.
2008-01-16 05:56:42 -
JPMorgan's subprime mortgage exposure sends profit down 34 percent in 4th-quarter (Minneapolis-St. Paul Star Tribune)
JPMorgan Chase & Co. said Wednesday its fourth-quarter profit fell 34 percent after its exposure to subprime mortgages _ though much smaller than at banking peers like Citigroup Inc. _ devalued its portfolio by $1.3 billion.
2008-01-16 05:56:58 -
Teva Specialty Pharmaceuticals and UCB Announce U.S. Respiratory ...
MSN MoneyCentral - This release contains forward-looking statements, which express the current beliefs and expectations of management. Such ... of our products and our global supply chain, environmental risks, fluctuations in currency, exchange and interest rates, and ...
2008-01-16 05:02:00 -
Account Dracula
Daily Mirror - Banks are still coining it by paying shockingly poor interest rates on current accounts. The Bank of England base rate is currently 5.5 per cent yet the big four banks (Barclays, HSBC, RBS/NatWest and Lloyds TSB) pay just 0.1 per cent on their ...
2008-01-16 01:34:00 -
Greater Community Bancorp Reports 2007 EPS of $1.02
Forbes - ... results for 2006 included a one-time provision for income taxes of $4.2 million in recognition of an additional current ... During most of 2007, interest rates and competitive market conditions put upward pressure on the cost of funds, and the margin ...
2008-01-16 04:33:00 -
Hedge fund employs Greenspan as adviser
The Independent - He already works for Deutsche Bank and the bond investment house Pimco, but this latest position is his most eye-catching, considering Mr Greenspan has been blamed for sowing the seeds of the current credit crisis by keeping interest rates too low ...
2008-01-15 04:09:00 -
Housing finance solid despite rate hikes
News.com.au - ... deteriorate throughout 2008 as house prices and interest rates march ever higher," Dr Joiner said. "Further interest rate rises in the first half of 2008 will see a continuation of what has been a softening trend in approvals." The current interest ...
2008-01-15 09:09:00 -
JGB futures hit 2-year high as Nikkei slide deepens
Forbes - ... U.S. economic recession stoked expectations the Bank of Japan could cut interest rates later in the year. The two-year JGB yield, the most sensitive to the policy outlook, fell as low as 0.575 percent just 7.5 basis points above the BOJ's current ...
2008-01-15 10:57:00 -
United Kingdom 10/1 MPC Interest Rate Decision
FXStreet.com - In line with market expectations, the MPC decided to leave interest rates unchanged at 5.50%. Ahead of the meeting, speculation ... This is because it includes owners’ equivalent rent, which the Fed believes provides a distorted (and at the current ...
2008-01-16 01:56:00 -
2nd UPDATE: ECB Weber: Don't Overdramatize Current CPI Rates
FXStreet.com - Don't Overdramatize Current CPI Rates (Adds further Weber comments and background.) FRANKFURT -(Dow Jones)- Risks to euro ... The ECB stands ready to act in a preemptive and decisive manner on interest rates, should those risks start materializing ...
2008-01-16 04:19:00 -
Big banks consider defying rate cut
Globe and Mail - Some of Canada's big banks are contemplating holding their prime rates steady in ... The central bank is expected to cut its key interest rate by a quarter of a ... not have to act in tandem, ever since the central bank moved in 1996 to its current ...
2008-01-16 01:27:00 -
Global markets fall on fears for U.S. economy
International Herald Tribune - Federal Reserve to cut interest rates a half point from the current 4.25 percent when it meets later this month. But with the Chinese economy enjoying double-digit growth and serving as a new market for exports from the region, it is possible that ...
2008-01-16 04:47:00 -
DJ DGAP-News: FLUXX AG acquires majority in SPORTWETTEN.DE AG - Finanztreff
DJ DGAP-News: FLUXX AG acquires majority in SPORTWETTEN.DE AGFinanztreff, Germany - 46 minutes agoFLUXX does not exclude the possibility that it will increase its interest yet further independently of the takeover bid. 'We are delighted that the majority ...
2008-01-16 04:50:19
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