divider
rss feed for...

Freddie Mac posts $6b loss

07 Nov 2009, 4:10PM

The troubled US mortgage finance giant Freddie Mac has lost $A6.9 billion for shareholders but is not seeking further government bailout funds.

Read more

Fannie Mae posts $18.9 billion Q3 loss

US home loan provider Fannie Mae has posted an US$18.9bn quarterly loss. (Getty)

06 Nov 2009, 9:18AM

Fannie Mae, the largest provider of funding for U.S. home loans, has said it will be asking for another US$15bn in taxpayer funds. Read more

Super help for small businesses

06 Nov 2009, 8:51AM

Small business operators will have access to a free superannuation clearing house service from July 2010. Read more

Ericsson to close Nortel deal 'very soon'

06 Nov 2009, 7:29AM

Telecom equipment maker Ericsson expects to close its acquisition of key assets of bankrupt Nortel Networks Corp shortly, a senior company executive said. Read more

RBA chief backs govt's stimulus action

06 Nov 2009, 9:10AM

The Reserve Bank of Australia chief has given his full backing to the stimulus actions taken by the Rudd government. Read more

Blogs

divider

Geithner says need to keep stimulus on

08 Nov 2009, 3:14AM

ST ANDREWS, Scotland (Reuters) - U.S. Treasury Secretary Timothy Geithner said high unemployment rates show that economic recovery is still perilous and governments need to maintain stimulus as long as necessary to ensure sustained growth. Read more

U.S. regulators close Gateway Bank, Prosperan Bank

07 Nov 2009, 11:45AM

WASHINGTON (Reuters) - Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year. Read more

U.S. closes Home Federal Savings in Detroit

07 Nov 2009, 10:42AM

WASHINGTON (Reuters) - Bank regulators closed Home Federal Savings Bank, of Detroit, on Friday, the 117th U.S. bank to fail this year as deteriorating loans continue to take their toll on financial institutions. Read more

Berkshire Hathaway's net income triples

07 Nov 2009, 9:35AM

NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Friday said third quarter net income tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit. Read more

Harvard biz grads send neutral signal on stocks

07 Nov 2009, 7:16AM

NEW YORK (Reuters) - Harvard Business School is sending 28 percent of its 2009 graduating class onto careers in finance, a mildly bullish sign for the economy, said Ray Soifer, an independent bank consultant. Read more

BofA CEO search to drag until Thanksgiving: report

07 Nov 2009, 2:41AM

CHARLOTTE, North Carolina (Reuters) - Bank of America Corp's CEO search could last until Thanksgiving, the New York Post reported on Friday. Read more

Kraft in waiting game as Cadbury deadline nears

07 Nov 2009, 1:09AM

LONDON (Reuters) - Kraft Foods is persisting in its waiting game as a deadline for its acquisition of British confectioner Cadbury nears, and many see a formal bid coming in close to its tight first offer. Read more

Calpers knew in 2003 about forex trading hits: report

06 Nov 2009, 10:36PM

Last month, California's attorney general sued State Street Corp , contending that State Street Bank and Trust overcharged Calpers and the California State Teachers' Retirement System for the costs of executing foreign currency trades since 2001. Read more

BA sees improved outlook, swings to H1 loss

06 Nov 2009, 10:17PM

LONDON (Reuters) - British Airways Plc fell to a worse than expected first-half loss and forecast annual revenue would be 1 billion pounds lower than last year, but said traffic volumes and yields had stabilized. Read more

Asia stocks, oil advance before U.S. job numbers

06 Nov 2009, 5:41PM

HONG KONG (Reuters) - Asian stocks rose ahead of the latest U.S. payrolls report on Friday, expected to show the fewest job losses since August 2008, while oil prices recovered to $80 a barrel after a sharp drop on high U.S. fuel inventories. Read more