Mortgage and Financial News From 2008-9-4 Page 4
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Banks earn $225k a day by keeping card rates high - News.com.au
Banks have not cut credit card interest rates They earn $225k every day the cut isn't passed on Some card rates as high as 20 per cent THE big banks are earning nearly $225,000 a day by refusing to deliver the Reserve Bank's interest rate cut to ...
2008-09-04 03:38:00 -
Why mortgage rates aren't falling - Walletpop.com
With the Fed holding rates for the foreseeable future, you may think this is a great time to refinance your mortgage or buy a new home. But because of the "credit crunch" you are no doubt sick of hearing about, rates are actually higher than they ...
2008-09-04 03:03:00 -
Sony Recalls Laptops For Possible Overheating (WPBF Palm Beach)
Sony says it is recalling 440,000 units of Vaio laptop computers worldwide due to faulty parts that could trigger overheating.
2008-09-04 04:50:15 -
China?s Central Bank Is Short of Capital (New York Times)
China?s central bank is in a bind, after snapping up roughly $1 trillion worth of Treasury bonds and mortgage-backed debt issued by Fannie Mae and Freddie Mac over the last seven years.
2008-09-04 04:50:41 -
NYMAGIC, INC. Provides Update on Investments and Operations (PR Newswire via Yahoo! Finance)
NYMAGIC, INC. today provided an update on the Company's investments and operations.
2008-09-04 04:51:00 -
Judge Says Ledger Video Suit Inadequate (WNEM TV 5 Mid-Michigan)
A lawsuit filed by a celebrity reporter over a video that purportedly shows Heath Ledger doing drugs doesn't adequately state legal claims, a Los Angeles judge says.
2008-09-04 05:13:01 -
Jobs data highlight voters' top concern (MSNBC)
With the employment outlook sluggish at best for the rest of the year, the economy will likely remain voters' top concern through the election in November.
2008-09-04 05:13:27 -
Reuters Business Summary (Reuters via Yahoo! Philippines News)
Boeing workers frustrated, angry at strike delay EVERETT, Washington - Less than a day after voting to strike, Boeing workers expressed frustration and anger on Thursday at the decision by union leaders to postpone a walkout and negotiate further with the company. Factory employees who showed up to work said about half of the workers did not come in for their assigned shifts ...
2008-09-04 05:16:03 -
US Dollar: What Impact Will Non-Farm Payrolls Have? (Daily FX)
The US dollar resumed its rally on Thursday, as the European Central Bank and Bank of England rate decisions did little to shift broad interest-rate expectations, as Credit Suisse overnight index swaps are still pricing in nearly 50bps worth of hike by the Federal Reserve, just over 25bps in rate cuts by the ECB, and almost 100bps in cuts by the BOE during the next 12 months.
2008-09-04 05:38:42 -
Bendigo Bank slashes mortgage rates (Banking Business Review)
Bendigo Bank has announced that it is cutting the interest rate it charges on variable home loans by 0.25%.
2008-09-04 05:39:36 -
Abbey to reduce mortgage rates (Banking Business Review)
Abbey, a subsidiary of Banco Santander, has announced that it is reducing the rate on its two-, three- and five-year fixed rate mortgages by up to 0.30%, effective September 5, 2008.
2008-09-04 05:40:13 -
Business Bookshelf Foreclosed But Not Forgotten - Wall Street Journal
In recent times, investment bankers have used "financial engineering" to design ever more complicated ways to manage risk. Such efforts, though, helped to bring about the current mortgage-default debacle: Bankers, overestimating the powers of their ...
2008-09-03 05:31:00 -
Crash Master - Time
Shiller thinks housing derivatives could help speculators prick future bubbles. Considering the Yale professor's recent publishing history, this is quite a relief. In March 2000, as stock prices soared to record levels, Shiller released his first ...
2008-09-04 02:55:00 -
Is downsizing a sensible option? - Guardian Unlimited
Q I have a £70,000 interest-only mortgage on a property worth around £300,000-£330,000 in the present climate. I am a single parent on a low income with three children still at home. The oldest is a student, another son is on a relatively low ...
2008-09-03 01:21:00 -
Solving the Subprime Crisis of Financial Democracy - BusinessWeek
The stock market is down sharply from its peak. Bank failures are rising. The federal government is taking extraordinary actions to shore up a beleaguered economy. In the midst of the crisis, a government official reflects: "We cannot stand by when a ...
2008-09-04 02:05:00