Mortgage and Financial News From 2008-1-14 Page 3

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• Mortgage mayhem missing Cumberland

  Fayetteville Observer - ... experts said Cumberland County may be insulated from the explosion of subprime mortgage troubles because of the area’s lower housing prices compared to other regions, and because of Fort Bragg. Subprime lenders target homebuyers with bad credit. The ...
  2008-01-14 08:42:00

• Sovereign takes $1.58b in charges

  Boston Globe - ... car loans in the Southeast and Southwest and bolstered its provision for bad ... Sovereign's report adds to evidence that credit losses are spreading in the banking ... charge of about $27 million for losses tied to the financing of two unnamed mortgage ...
  2008-01-14 10:00:00

• Credit crisis forces Citigroup chief to cut 20,000 jobs across group

  The Independent - ... lay off more than 20,000 staff in the first major downsizing caused by the credit ... cutting measures today, alongside billions of dollars of new losses on the mortgage ... figure is even higher, perhaps more than twice as much, and are braced for bad ...
  2008-01-14 04:46:00

• Good news and bad news for earnings

  CNN Money - ... Fortune 500 )'s strong earnings Monday made clear, other areas of the market, such as technology, are not in bad shape ... Terrible bank earnings aren't a surprise, in light of the credit and mortgage market malaise that's wreaked havoc on Wall Street for ...
  2008-01-14 02:58:00

• Markets braced for bad news from major U.S. banks

  Xinhua News Agency - ... substantial losses and secure more cash from abroad in what is shaping up to be a pivotal week for the global credit ... The New York Times on Friday reported Merrill was expected to suffer $15 billion in losses stemming from bad mortgage ...
  2008-01-14 10:00:00

• Credit crisis forces Citigroup chief to cut 20000 jobs across group - Independent

  Credit crisis forces Citigroup chief to cut 20000 jobs across groupIndependent, UK - 5 hours agoMounting losses on mortgage investments were the final straw for Mr Prince, and Citigroup said at the time of his departure that 2007's financial results ...
  2008-01-14 05:04:53

• Jeremy Warner's Outlook: Hands seems to be getting it right at EMI - Independent

  Jeremy Warner's Outlook: Hands seems to be getting it right at EMIIndependent, UK - 5 hours agoAnd the other banks have decided to use the credit crunch to squeeze one of their biggest mortgage competitors out of the market. With the Government having ...
  2008-01-14 05:05:37

• IBM And SAP Top Q4 Forecasts - CNNMoney.com

  IBM And SAP Top Q4 ForecastsCNNMoney.com - 5 hours ago4 The ailing financial giant may write off $24 bil for mortgage-related losses, and set plans to cut payrolls by 17000-24000 when it reports results Tue., ...
  2008-01-14 05:12:21

• Rate hopes stir markets; IBM profits boost stocks - Moneyweb

  Rate hopes stir markets; IBM profits boost stocksMoneyweb, South Africa - 5 hours ago"Now would be the time to cut early, because there are so many concerns, so many people wondering about the risks from (bad mortgage bets at) the banks and ...
  2008-01-14 05:13:39

• Coping with a strong peso - Inquirer.net

  Coping with a strong pesoInquirer.net, Philippines - 5 hours agoWhile the US dollar continues to weaken due to developments in the US subprime mortgage market, the Philippine peso is riding the waves, doing much better ...
  2008-01-14 05:39:13

• China growth may slow at worst time for world - Business Report

  China growth may slow at worst time for worldBusiness Report, South Africa - 2 hours agoBeijing has raised interest rates six times in a year, restricted credit, frozen some prices and let the yuan appreciate to damp growth and inflation. ...
  2008-01-14 08:25:41

• Gold up; Dow down - Bits of News

  Gold up; Dow downBits of News - 2 hours agoAnd now, with unemployment rising, the credit card companies are bound to discover what the subprime mortgage holders discovered ”“ that their credits ...
  2008-01-14 08:50:33

• FirstAlert: 10 AM Investrend / Bestcalls - Trading Markets (press release)

  FirstAlert: 10 AM Investrend / BestcallsTrading Markets (press release), CA - 1 hour agoAccording to BW, "bankers don't really know the value of their mortgage holdings or the complex securities based on home loans." BW cites Reuters Estimates, ...
  2008-01-14 09:02:15

• 'Weakness' as Strength - Wall Street Journal

  'Weakness' as StrengthWall Street Journal - 1 hour agoBuyers gorged on cheap credit, overpaying along the way. Some raced to rip up transactions signed months earlier. More deals, more problems. ...
  2008-01-14 09:20:54

• Home sales creep upward in December - Today's News-Herald

  Home sales creep upward in DecemberToday's News-Herald, AZ - 1 hour agoThe resale home sector has been struggling through the housing slump and the credit crisis prompted by last summer’s spike in defaults and foreclosures on ...
  2008-01-14 09:38:14

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