Mortgage and Financial News From 2008-10-22 Page 01

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  • Bears Take Charge; Dow Sinks 514 Points - Street.Com

    Updated from 3:20 p.m. EDT Stocks in New York to a severe pounding Wednesday, as corporate earnings and forecasts again took center stage and concerns of a global slowdown increased. The three major indices spent the entire day in negative territory ...
    2008-10-22 03:08:00

  • California Home Sales Revive, But Not Without Intense Pain - Wall Street Journal

    LOS BANOS, Calif. -- In this California city, one of the hardest hit in the national housing crash, there's good news: Homes are starting to sell again. Investors and first-time home buyers are snapping up foreclosed houses here, with the number of ...
    2008-10-22 04:41:00

  • Mississippi Briefs (The Clarion-Ledger)

    The Bay of St. Louis Bridge in Hancock County has been named the winner of the People's Choice Award competition.
    2008-10-22 01:50:56

  • Banks Mine Data and Pitch to Troubled Borrowers (New York Times)

    Businesses are creating detailed profiles of the financial lives of Americans and selling that information to banks.
    2008-10-22 06:51:28

  • 'Hope for Homeowners' gets a slow start (CNN Money)

    Everyone agrees that the only way to fix the financial crisis is to fix the housing market.
    2008-10-22 03:06:31

  • Glimcher Reports Third Quarter 2008 Results (PR Newswire via Yahoo! Finance)

    Glimcher Realty Trust, , today announced financial results for the third quarter ended September 30, 2008.
    2008-10-22 04:09:00

  • Investors 'stuck' high and dry in Wextrust fraud case (The Virginian-Pilot)

    When the dividend check he expected in April didn't arrive, Tim Moore made repeated phone calls to WexTrust Capital's offices in Norfolk and Chicago. The check eventually came, but it bounced. When Moore asked WexTrust to return his $140,000 investment, employees offered excuses for the bounced check but never returned his money, the Moyock, N.C., resident said.
    2008-10-22 10:34:33

  • Gordon Brown Uses The 'R' Word - Ananova

    Prime Minister Gordon Brown has acknowledged for the first time that the world economic downturn is "likely to cause recession" in the Britain. The Prime Minister made the comment to MPs in the Commons during Prime Minister's Questions. Meanwhile ...
    2008-10-22 08:45:00

  • The financial crisis has one beneficiary: The dollar - International Herald Tribune

    PARIS : The great market upheaval of 2008 has stripped 45 percent from the value of global equities, led bank lending to nearly dry up and caused commodity prices to crash from stratospheric heights. And now, paradoxically, it is helping to lift the ...
    2008-10-22 07:26:00

  • Pound suffers biggest fall since Black Wednesday - Daily Telegraph

    Sterling plummeted by almost 6ΒΌ cents against the dollar as investors abandoned the UK currency after the warning, originally delivered by Mervyn King on Tuesday night. The pound ended the day worth just $1.6334, compared with almost $1.70 the ...
    2008-10-22 07:12:00

  • Pound falls to five-year low as Bank head admits recession is here - Guardian Unlimited

    Sterling was hammered down to a five-year low against the dollar today and the FTSE 100 dropped by almost 200 points as Gordon Brown echoed gloomy comments from Mervyn King and admitted for the first time that the UK is likley to slip into a ...
    2008-10-22 02:25:00

  • Lean Times, Tough Steps In Hungary - Wall Street Journal

    BUDAPEST -- On Wednesday, it was Hungary's turn to take desperate measures. As the financial shock that began in the U.S. reached deeper into emerging markets, Hungary's central bank took the dramatic step of raising interest rates by a steep three ...
    2008-10-22 06:43:00

  • Euro, Pound Tumble on Bets Europe's Central Banks to Cut Rates - Bloomberg

    Oct. 22 (Bloomberg) -- The euro fell below $1.28 for the first time since November 2006 and the pound tumbled to a five- year low on speculation Europe's central banks will cut interest rates as the global economy heads for a recession. The single ...
    2008-10-22 03:51:00

  • Governments rush to save economies (Gulf Daily News)

    WASHINGTON: Govern-ments from Budapest to Buenos Aires took emergency action to protect their economies from the worst financial crisis in 80 years yesterday, but stocks, currencies, oil and commodities tumbled on persistent fears of global recession.
    2008-10-22 07:22:12

  • Global Recession Concern Spurs Governments to Boost Spending (Bloomberg)

    Oct. 23 (Bloomberg) -- After easing the financial-market panic by committing trillions of dollars to shore up their banking systems, governments are broadening their focus to buffering its economic aftershocks.
    2008-10-22 07:57:19

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