Mortgage and Financial News From 2008-9-3 Page 9
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Former Credit Suisse Brokers Accused Of Mortgage-Related Fraud (WNBC)
Two former Credit Suisse bankers were indicted Tuesday on charges they ripped off investors by lying about the value of the auction rate securities they were selling, federal prosecutors said.
2008-09-03 09:16:17 -
Reuters Business Summary (Reuters via Yahoo! Philippines News)
Ford U.S. sales fall 26.6 percent in August DETROIT - Ford Motor Co said on Wednesday that sales fell 26.6 percent in August amid steep declines in large pickup trucks and SUVs, and cut its second-half production plans. Sales dropped to 155,690 vehicles in August from 212,120 vehicles a year earlier, including all of Ford's brands, the automaker said. GMAC to ...
2008-09-03 09:37:55 -
US names 2 Credit Suisse brokers in bln-dlr subprime fraud (TurkishPress.com)
US regulators filed civil fraud charges against two Credit Suisse brokers, alleging they made more than one billion dollars in unauthorized purchases of subprime-related securities.
2008-09-03 09:54:04 -
Ex-Credit Suisse Brokers Accused of Subprime Fraud, Sued by SEC (Bloomberg.com)
Sept. 3 (Bloomberg) -- Two former Credit Suisse Group AG brokers were charged with conspiracy, securities and wire fraud linked to a scheme to fraudulently sell subprime securities to corporate clients.
2008-09-03 09:54:06 -
US accuses 2 brokers of $1B subprime fraud (GMA News)
WASHINGTON - Federal regulators on Wednesday accused two former Wall Street brokers of defrauding their customers by making more than $1 billion in unauthorized purchases of securities tied to subprime mortgages.
2008-09-03 09:58:47 -
ECB on Hold Until Second Half of 2009: Markets - CNBC
Sabre-rattling by European Central Bank officials has persuaded financial markets that the ECB is not about to cut interest rates, despite signs of easing inflationary pressures and economic slowdown in the euro zone. Although oil prices and near ...
2008-09-03 07:11:00 -
Interest rates likely to stay at 5% - Haringey Independent
Bank of England rate-setters are to begin their latest two-day meeting - under increasing pressure to stave off a looming recession. But despite a stagnant economy, interest rates are likely to be held at 5% for the fifth month in a row as inflation ...
2008-09-03 03:01:00 -
European Central Bank Rate Decision Timeline - CNBC
September 4 2008 -- The central bank for the euro zone is widely expected to leave interest rates unchanged, despite a lower euro, higher inflation and a contracting economy. August 7 2008 -- The ECB kept rates on hold at 4.25 percent, tied by rising ...
2008-09-03 06:50:00 -
UPDATE 1-Canadian dollar rallies on BoC rate announcement - Reuters
TORONTO, Sept 3 (Reuters) - The Canadian dollar shot higher versus the U.S. dollar on Wednesday and recouped all its early losses as the Bank of Canada held its key interest rate steady and gave no timing for when it might cut rates again. The ...
2008-09-03 07:18:00 -
Canada Keeps Key Rate at 3%, Says It's `Appropriate' (Update1) - Bloomberg
Sept. 3 (Bloomberg) -- The Bank of Canada left its key lending rate unchanged, saying it remains ``appropriately accommodative'' amid slower-than-expected economic growth. Governor Mark Carney and his five deputies kept the target rate on overnight ...
2008-09-03 07:11:00 -
DWS Investments Alternative Asset Allocation Plus Fund Marks First Anniversary with Record Asset Inflows (Business Wire via Yahoo! Finance)
NEW YORK----DWS Investments - Americas, the US retail unit of Deutsche Bank’s Asset Management division, today announced the first anniversary of the DWS Alternative Asset Allocation Plus Fund.
2008-09-03 08:30:00 -
Toronto stocks sag, weighed down by commodity stocks (Reuters via Yahoo! News)
The Toronto Stock Exchange's main index fell on Wednesday morning, extending its losses after a big drop the previous session, pulled down by weakness in commodity-related stocks.
2008-09-03 08:30:13 -
Rising Unemployment May Deepen US Housing Slump (CNBC via Yahoo! Finance)
Little attention has been paid to what a recession and spike in unemployment would do to an already battered housing market.
2008-09-03 08:31:49 -
Bank of Canada holds rates, sees risks to growth (The Globe and Mail)
OTTAWA (Reuters) - The Bank of Canada held its key interest rate steady on Wednesday and signaled it was in no hurry to cut rates any time soon, even as it warned that the U.S. economic outlook could worsen.
2008-09-03 08:32:54 -
Euro-zone, U.K. rates on hold as economies race to the bottom (Market Watch)
The Bank of England’s rate-setting Monetary Policy Committee and the European Central Bank’s Governing Council are both expected to leave official interest rates unchanged when they conclude monthly policy meetings Thursday as the U.K. and euro-area economies struggle while inflation runs well above target.
2008-09-03 08:34:29