Mortgage and Financial News From 2008-8-2 Page 11
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First Priority Becomes Eighth Failed Bank; SunTrust Buys Assets (Bloomberg.com)
Aug. 2 (Bloomberg) -- First Priority Bank with six branches on Florida's Gulf Coast was closed by state regulators, becoming the eighth U.S. bank to collapse this year amid failed loans and writedowns linked to a slump in home prices.
2008-08-02 07:20:54 -
The Rise of A New Asset Class (GoldSeek.com)
This week I am in Maine on vacation with my son, and next week is my daughter Tiffani's wedding, so for the next two weeks I am going to send an updated version of a speech I have been giving the past few months on what I think is the likely potential for the rise of a brand new asset class.
2008-08-02 08:52:06 -
BPI sees strong loan growth (Philstar.com)
The Bank of the Philippine Islands (BPI) expects its loan portfolio to grow to an eight-year high of between 12-15 percent this year despite weak economic conditions weighed down by inflation and a lackluster investment climate.
2008-08-02 09:13:24 -
Remarks by Secretary Henry M. Paulson, Jr. on the Markets and Economy at the Exchequer Club (United States Department of the Treasury)
Good afternoon. Thank you for the opportunity to share my thoughts on the current state of the U.S. economy, and our housing and capital markets. Data released this morning show that our economy expanded in the second quarter – GDP growth was 1.9 percent.
2008-07-31 10:14:08 -
Central Banking In The 21st Century (Kitco.com)
The Federal Reserve System (or fed) was created in 1913, almost 100 years ago. It was created, along with dozens of other government regulatory agencies in a wave of populism spearheaded by President Woodrow Wilson.
2008-07-31 11:59:38 -
About Space: Saturday August 2, 2008 (The Oklahoman)
What housing, lending groups say about law The Housing and Economic Recovery Act of 2008, signed this week by President Bush, is regarded as the most wide-ranging and significant housing law since the Great Society, an attempt to deal with a national housing crisis the likes of which hasn't been seen since the Great Depression. Most trade groups in housing praised the bill. Here are some ...
2008-08-02 07:32:02 -
Two residents accused of mortgage fraud (St. Charles Journal)
Attorney General Jay Nixon has filed lawsuits against two St. Charles County residents in a statewide operation targeting alleged mortgage fraud.
2008-08-02 08:45:38 -
Banks must cut rates if RBA does, says Rudd - News.com.au
PRIME Minister Kevin Rudd has warned banks they have a "responsibility" to pass on to borrowers any cut in official interest rates. Economic data showing a slump in housing approvals, weak retail spending, and consumer and business pessimism have led ...
2008-07-31 05:03:00 -
From Beijing to a TV set near you - Globe and Mail
It's the calm before the big event. The video editors are doing their final training with new state-of-the-art editing software. The sports producers are pacing the control rooms. You half expect them to whip out pulse-rate monitors as they go over ...
2008-08-02 07:06:00 -
Eastern European Currencies: Turkish Lira Gains as AKP Survives - Bloomberg
Aug. 2 (Bloomberg) -- Turkey's lira had its biggest weekly gain against the dollar in more than two years after the Constitutional Court rejected a case to ban Prime Minister Recep Tayyip Erdogan's Justice and Development Party. The Czech koruna fell ...
2008-08-02 12:25:00 -
HDFC Bank hikes interest rates - Thaindian.com
Mumbai, July 31 (IANS) HDFC Bank Thursday evening raised its retail prime lending rate by 75 basis points (bps), after the Reserve Bank of India (RBI) tightened monetary policy to curb inflation. This rate hike would be effective from Friday. Earlier ...
2008-07-31 09:03:00 -
India's HDFC raises retail prime lending rate by 0.75 pct effective ... - Forbes
MUMBAI (Thomson Financial) - India's Housing Development Finance Corp. (HDFC) said it has raised its retail prime lending rate (RPLR), on which its adjustable rate home loans (ARHL) are benchmarked, by 0.75 percent effective Aug. 1, in line with ...
2008-07-31 06:04:00 -
Japan's Yosano Says Higher Interest Rates Would Help Households (Bloomberg.com)
Aug. 2 (Bloomberg) -- Japan's households would benefit from higher interest rates, the country's newly appointed economy minister said today, indicating he may support increases in borrowing costs by the central bank.
2008-08-02 01:28:58 -
Sales tax holidays on back-to-school buys (Bankrate.com via Yahoo! Finance)
Just in time for school, states offer tax-free shopping days in the coming weeks.
2008-08-02 03:00:00 -
Jobless Rate Climbs to 5.7% as 51,000 Jobs Are Lost in July (The Gainesville Sun)
Payrolls contracted for the seventh consecutive month, but the loss was less than the 75,000 jobs that economists had expected.
2008-08-02 03:06:23