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submitted by Robby for team staff news 17 hours 43 minutes ago
The Federal Housing Administration's fund to cover losses on the mortgages it insures is shrinking, but remains above the point where taxpayers would need to kick in money to cover defaults, according to an independent audit of the agency's financial soundness. Since its creation in...(more)
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submitted by Robby for team staff news 43 minutes ago
Oil prices fall after a barrage of bad economic data heightens fears of protracted global recession and declining demand.
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submitted by Robby for team staff news 43 minutes ago
SOMERSET, Pa. (AP) -- The head of the nation's largest automaker took perhaps the most important car ride of his life Wednesday, traveling 500 miles, mostly over highway through four states, to Washington, D.C., where he will ask Congress for a second time to save his...(more)
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submitted by Robby for team staff news 1 hour 43 minutes ago
Capital One, a leading credit card company and bank, is expected to announce tomorrow that it will buy Chevy Chase Bank, a landmark Washington financial firm with branches throughout the region, according to sources familiar with the matter. Capital One will pay $520 million in...(more)
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submitted by Robby for team staff news 1 hour 43 minutes ago
The Treasury Department is considering plans being pushed by trade groups to intervene directly into the mortgage market to dramatically force down rates and stimulate the moribund housing market, according to idustry sources familiar wih the matter. One proposal calls for Treasury to buy the...(more)
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submitted by Robby for team staff news 2 hours 43 minutes ago
DENVER (AP) -- A severe pullback in spending for everything from houses in Connecticut to jewelry in Europe and steel in China has reached as far as the New Mexico mining town of Silver City, N.M....
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submitted by Robby for team staff news 2 hours 43 minutes ago
Citing “extraordinary market conditions,” the big private equity firm said it was cutting about 100 jobs, or 10 percent of its work force.
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submitted by Robby for team staff news 5 days 18 hours 43 minutes ago
The full scope of the housing meltdown isn't clear, and already there are ominous signs of a new crisis - one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins, the same events poisoning the...
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submitted by Robby for team staff news 3 hours 43 minutes ago
The new rules are designed to stem conflicts of interest and provide more transparency for the credit-rating industry, widely faulted for its role in the subprime mortgage debacle.
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submitted by Robby for team staff news 3 hours 43 minutes ago
NEW YORK (AP) -- Treasury yields, some of the most sensitive barometers of investor sentiment, keep dropping to new record lows as a torrent of bad economic news continues. But as investors send yields down, they're also influencing the economy - driving interest rates so low...(more)
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submitted by Robby for team staff news 4 hours 42 minutes ago
Japanese auto parts maker Yazaki Corp. plans to invest $4.3 million to open a production plant in Uruguay next year despite the credit-crippling international financial crisis.
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submitted by Robby for team staff news 4 hours 43 minutes ago
ASHGABAT, Turkmenistan (AP) -- The European Union will push harder for a pipeline to carry natural gas from the Caspian Sea region to Europe while bypassing Russia, a senior EU diplomat said Wednesday....
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