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Q&A: Raghuram G Rajan, Honorary Economic Advisor to PM Saturday, September 4, 2010 @ 11:23PMRaghuram G Rajan , the Eric J Gleacher Distinguished Service Professor of Finance at the University of Chicago’s Booth School of Business, is no stranger to the Indian financial sector.
The new Irish question Saturday, September 4, 2010 @ 11:06PMWith Anglo Irish Bank's losses continuing to spiral, more are wondering how the nation will remain solvent
What does modern economics really do? Lengthen recessions. Saturday, September 4, 2010 @ 10:53PMThe US and other troubled economies need to pay down their debts. Stimulus and easy money only make recessions last longer.
Marcos Breton: Keeping the Kings will take public money Saturday, September 4, 2010 @ 10:00PMIf Sacramento wants to keep the Kings and remain in the business of big-time sports, it needs to grow up. The capital city has wasted enough time in denial about how pro sports really work.
Looking For A Place to Save: Economic times are pushing the rates of return very low Saturday, September 4, 2010 @ 9:00PMIt doesn't pay much to save these days even as consumers and companies -- sobered by high unemployment and the recession -- have cut spending and tried to reduce debt.
Wanda in Haiti: Pain, protest, planning for the future Saturday, September 4, 2010 @ 8:57PMThere was high unemployment for Haitians, those educated with skills and the unskilled as well, prior to the earthquake. For a government official to tell a BAI representative that withholding food was a way to motivate lazy people looking for a handout to get to work is a gross misread of the problem.
No Money Down Mortgages, Small Programs, Creep Back Saturday, September 4, 2010 @ 5:45PMFannie Mae is getting back in the market for mortgages with no down payment, available to new home buyers in four states.
Boom...or bust: Is China heading for big trouble? Saturday, September 4, 2010 @ 4:17PMA surge in bank lending. A speculative rush to buy houses – not just second properties, but third or fourth homes. Soaring property prices. Banks hiding the loans off their balance sheets. Surely it could not be happening again? And not so soon? But it is – in China.
Markets finish first up week in a month Friday, September 3, 2010 @ 9:05PMThe stock market had its first winning week in a month thanks to better news on the economy. The Dow Jones industrial average jumped 128 points Friday, its fourth straight day of gains. The strong start to September marked a turnaround from a dismal... Dow Jones Industrial Average - Business - Economy - Stock market - Investing
Stocks extend September rally after jobs report Friday, September 3, 2010 @ 7:21PMDow up 128, indexes rise a fourth straight day on positive jobs report
Lenihan seeks quick EU ruling on Anglo rescue Friday, September 3, 2010 @ 6:46PMMINISTER FOR Finance Brian Lenihan will meet EU competition commissioner Joaquin Almunia in Brussels early next week as the Government presses for a swift decision on the €25 billion rescue of Anglo Irish Bank.
Grabbing global headlines for the wrong reasons Friday, September 3, 2010 @ 6:40PMTHIS country’s best efforts to assure global investors that it has the banking crisis under control are failing to convince the markets.
Stocks extend September rally after jobs report Friday, September 3, 2010 @ 4:55PMNEW YORK — The stock market had its first winning week in a month after news on the economy started getting better.
US stocks extend September rally after jobs report Friday, September 3, 2010 @ 4:33PMNEW YORK – The stock market had its first winning week in a month thanks to better news on the economy. The Dow Jones industrial average jumped 128 points Friday, its fourth straight day of gains. The strong start to September marked a turnaround from a dismal performance in August.
Teaching children about money makes smart financial sense Friday, September 3, 2010 @ 4:29PMas the new school year kicks in, it's the one subject that still isn't guaranteed to appear in your children's timetables. Teaching children about money is regularly cited as a critical part of their education, and over 90 per cent of teachers and parents believe financial education should be taught in schools, according to the Personal Finance Education Group (PFEG), an independent charity ...
Dow climbs 128 points on jobs report Friday, September 3, 2010 @ 3:25PMGETTY IMAGESA street sign for Wall Street outside the New York Stock Exchange on April 22, 2010. The stock market had its first winning week in a month thanks to better news on the economy. The Dow Jones industrial average...
Stocks extend Sept. rally after jobs report Friday, September 3, 2010 @ 3:10PMThe stock market had its first winning week in a month thanks to better news on the economy.
Dow finishes the day up 255 points Wednesday, September 1, 2010 @ 7:47PMNEW YORK — Stocks jumped Wednesday after surprisingly strong growth in U.S. and Chinese manufacturing allayed some of the worries that had been building over the global economy in recent weeks.
Large banks earning billions Wednesday, September 1, 2010 @ 7:34PMWASHINGTON -- U.S. banks are making money again, although a split picture of the industry has emerged since the financial crisis.
China puts rural credit cooperatives on sale Wednesday, September 1, 2010 @ 6:31PMDomestic banks, private and foreign investors courted. 2 Sep 2010 11:21 AM
Ex-Lehman CEO says regulators refused to save firm Wednesday, September 1, 2010 @ 6:22PMWASHINGTON: The former chief of Lehman Brothers told a panel investigating the financial crisis that the Wall Street firm could have been rescued, but regulators refused to help — even though they later bailed out other big banks.
Markets start September with a bang; Dow up 255 Wednesday, September 1, 2010 @ 6:04PMNEW YORK - The fear that has been hanging over markets for most of August lifted on Wednesday. For how long remains anyone's guess.
China puts rural credit cooperatives on sale Wednesday, September 1, 2010 @ 5:37PMBEIJING, Sept 2 (Reuters) - China is inviting domestic banks and private and foreign investors to take over the country's most problematic rural credit cooperatives.
Ex-Lehman CEO Says Feds Refused to Save Firm Wednesday, September 1, 2010 @ 5:30PMFormer Chief of Lehman Brothers Tells Panel That the Wall Street Firm Could Have Been Rescued
CANDIDATE PROFILE: Michael Day Wednesday, September 1, 2010 @ 5:05PMMichael Day from Stoneham is a Democratic candidate for the Middlesex and Essex District state Senate seat, which covers Melrose Wards 1-5, Malden, Reading, Stoneham, and Wakefield.
POLITICAL HOT TOPICS: Tuesday, August 31, 2010 Tuesday, August 31, 2010 @ 1:42AMThe CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world. WASHINGTON/POLITICAL For the latest political news: www.CNNPolitics.com CNN: Oval Office setting is message behind the message Before President Obama says a word during his Tuesday Oval Office address, the backdrop will make a statement for [...]
Austria's Raiffeisen bank's half-year profit more than doubles Tuesday, August 31, 2010 @ 1:33AMVienna - Austrian bank Raiffeisen International said Tuesday its profit more than doubled to 171 million euros (216 million dollars) in the first half of the year, owing to lower provisions for bad loans in Central and Eastern Europe.
Bad lending led to Sth Canterbury's downfall - Key Tuesday, August 31, 2010 @ 12:31AMSouth Canterbury Finance got itself into trouble by lending money to people who couldn't pay it back and on assets that have no value, with many of the loans now bonfire material, Prime Minister John Key said today.The Government...
Why Are NACA’s Innovative Mortgage Modification Marathons Below the Radar? Monday, August 30, 2010 @ 11:22PMI’m a bit mystified, given the abject failure of various government-devised “save the mortgage borrower programs,” that the Neighborhood Assistance Corporation of America’s mortgage mod marathon’s aren’t getting more coverage, and that limited media attention may be contributing to falling turnouts at its events. It’s telling that a Google News search confirms that the best [...]
Factbox: South Canterbury Finance Monday, August 30, 2010 @ 11:08PMKey points of South Canterbury Finance's (SCF) collapse and the Government's actions:
Louisiana bank defies trend Monday, August 30, 2010 @ 10:38PMNEW YORK TIMES LAKE CHARLES, La. - The only new start-up bank to open in the United States this year operates out of a secondhand double-wide trailer, on a bare lot in front of the cavernous Trinity Baptist Church. A blue awning covers the makeshift drive-through window. Called Lakeside Bank, it is run by a burly and balding former tackle for Louisiana State's football team named Hartie Spence ...
SCF receivership 'distressing' - Key Monday, August 30, 2010 @ 10:02PMPrime Minister John Key said South Canterbury Finance's receivership was a ''distressing and sad day'' for Mr Hubbard, but was due to some poor lending decisions and the impact of the global recession.
Bad loans haunt small banks Monday, August 30, 2010 @ 9:29PMThe six community banks based in Mecklenburg County are still struggling to tame troubled loan portfolios, as the economy and real estate markets continue to sputter, federal data show.
Which bank? Tips for investing in the big banks Monday, August 30, 2010 @ 9:23PMFunding pressures and a slowdown in new lending is putting pressure on bank shares. But it's still hard to ignore the big four.
Why are China bank results eerily similar? Monday, August 30, 2010 @ 9:21PM(FT) -- China's big banks are all majority owned by the state, their top executives are mostly former central bankers appointed by the Communist party and their profits are all generated using the same business model.
South Canterbury payout $1.6b Monday, August 30, 2010 @ 8:32PMThe Government will today pay $1.6 billion to cover cash owed to depositors and stockholders by South Canterbury Finance and lend another $175 million to cover other debts, allowing the Crown to effectively have first call on the failed company's assets.
Noah Education Announces Unaudited Fourth Quarter and Full Fiscal Year 2010 Financial Results Monday, August 30, 2010 @ 8:08PMSHENZHEN, China, Aug. 30 /PRNewswire-Asia-FirstCall/ -- Noah Education Holdings Ltd. (NYSE: NED) ("Noah" or "the Company"), a leading provider of supplemental education products and services in China, today announced its unaudited financial results for the fourth quarter and full fiscal year ended June 30, 2010. Fourth Quarter Fiscal 2010 Financial Highlights -- Net revenue for the quarter ...
Eastday-Boom fuels banks' H1 profit Monday, August 30, 2010 @ 5:51PMAn armed policeman marches past the headquarters of the Industrial and Commercial Bank of China, the world's most valuable lender, in central Beijing yesterday.
Daily Pfennig 8/26/10: New Home Sales Plunge! Thursday, August 26, 2010 @ 7:14AMIn This Issue…. * More bad data in the U.S. weighs on dollar... * Who are you going to believe? * Gold & Silver rebound nicely on bad U.S. data... * No follow through on Japanese jawboning...
Central questions Thursday, August 26, 2010 @ 7:04AMLess than two years has passed since massive interventions from central banks and governments to arrest a crisis of confidence in financial markets.
Survey shows credit conditions improving in state Thursday, August 26, 2010 @ 6:32AMFor the third straight quarter, credit conditions are continuing to improve. Slowly. According to the second-quarter 2010 CBIA/TD Bank Credit Survey released Thursday, current credit conditions are the best they’ve been in more than a year. Businesses also expect to experience continued improvement.
Ireland Set To Lose $30.5 Billion On Its Banking Sector Bailout Thursday, August 26, 2010 @ 6:18AMThe Irish Independent reports that losses are expected to total €24 billion ($30.5 billion) over a 5-year period for the bailout fund. That would leave the country getting back on €16 billion ($20.3 billion) or 10% of GDP.
CIBC third quarter profit rises to $640 million Thursday, August 26, 2010 @ 6:10AMCIBC reported a 47% jump in profits to $640 million in the third quarter as retail operations surged and credit losses fell, but the bank’s CEO says economic and regulatory uncertainty are reasons for caution.
Flaherty lauds Irish fiscal reforms Thursday, August 26, 2010 @ 5:47AMSays government shouldn’t be fazed by recent downgrade of Ireland by rating agency S&P
China's ICBC first half profit up 27 per cent on growth in interest, fee business Thursday, August 26, 2010 @ 5:38AMBEIJING, China - Industrial & Commercial Bank of China Ltd., the world's biggest bank by market value, said Thursday its first-half profit
RBC’s Profit Misses Estimates on Decline in Trading Thursday, August 26, 2010 @ 5:29AMRoyal Bank of Canada, the country’s biggest lender, reported profit that missed analysts’ estimates for the fourth straight quarter as trading revenue plunged 93 percent from a year earlier.
Newsweek: How our homeownership fetish hurt us Monday, August 23, 2010 @ 2:11PMIn some ways, American homeownership is a great success story. In 1940, 44 percent of households owned a home; by 1985, the rate was 64 percent. The size and quality of homes have increased dramatically. Owning a home contributes to neighborhood stability and encourages property improvement. Unfortunately, we let a sensible goal become a foolish fetish. United States - Newsweek - Business ...
Higher bank costs make rate rise likely Monday, August 23, 2010 @ 1:46PMEarnings reports from the four major banks project higher funding costs and global recovery fears.
Mortgage rates at record lows: refinances are up. Sales are not. Monday, August 23, 2010 @ 12:57PMMortgage rates at 4.4% could bring new wave of refinancing, easing some strain on family budgets. Low rates also make homebuying more attractive. The catch: All this is if you qualify.
Yields Showing No Economic Spoils for Republicans Monday, August 23, 2010 @ 12:15PMFormer Republican House Speaker Newt Gingrich says Barack Obama’s policies are “artificially extending the recession.” Congressman John Boehner, the party’s leader in the House, says “stimulus policies aren’t working.” Republican Senator Jim Bunning calls Federal Reserve Chairman Ben S. Bernanke’s tenure “a failure.”