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IndyMac bank seized by US amid intensifying crisis (AFP) Federally-seized IndyMac Bank was due to reopen Monday after suffering one of the biggest bank closures in US history, as the troubled US mortgage industry struggles to stem further meltdown. yahoo.comThe fall of IndyMac In what could turn out to be the most expensive bank failure ever, troubled mortgage lender IndyMac Bancorp Inc. was taken over by federal regulators on Friday. CNN MoneyNewsWatch: Stocks, weighed by financial woes, face wall of earnings Stocks will likely start the coming week full of growing uncertainty after news late Friday that retail bank IndyMac was shut down by regulators, becoming the latest victim of the subprime mortgage crisis. MarketWatch.comBanks win concession on protecting savers Bank depositors will be compensated in full for the first £50,000 of their savings under a new protection scheme, but the banks have won their argument against putting up cash in advance. ... The UK NewsIndyMac seized as financial troubles spread WASHINGTON (Reuters) - U.S. banking regulators swooped in to seize mortgage lender IndyMac Bancorp Inc on Friday after withdrawals by panicked depositors led to the third-largest banking failure in U.S. history. ReutersFederal regulators take control of IndyMac Bancorp IndyMac Bancorp Inc. has become the biggest casualty of the subprime mortgage crisis, as federal regulators shut down the troubled Pasadena, Calif.-based savings bank in one of the largest U.S. bank failures ever. MarketWatch.comBusinessCast July 12, 2008 DFM Company announces 100% increase in net profit for H1 2008... Gold prices rally... UAE Central Bank reports huge rise in money supply... Syria and UN hold conference... Saudi shares shed 4.96% last week... Oil prices soared above 147 Friday... Bahrain Airport Company outlines plans... Abu Dhabi Department of Intangible Heritage releases book... Cavier to be produced in UAE fish farm. AME InfoCommonwealth Bank of Australia eyes ABN Amro Australia SYDNEY (MarketWatch) -- Commonwealth Bank of Australia (CBA.AU) is looking at buying the Australian and New Zealand arms of ABN Amro, The Australian newspaper reported Saturday. The report comes after National Australia Bank Ltd. on Friday said it was participating in a process being conducted by Royal Bank of Scotland Group PLC to acquire ABN Amro's Australian and New Zealand operations, which one analyst estimated are worth around A$800 million. MarketWatchIndyMac Collapses Under Financial Woes Customers of IndyMac faced closed doors Friday after federal regulators took over the California bank. Risky lending practices and a $1.3 billion bank run were part of IndyMac's demise. Banking consultant Burt Ely talks about how the failure happened and what it signals for the broader economy. NPRUAE`s monetary supply rises by Dhs187bn in 2007 Central Bank data has shown a huge rise in the UAE's monetary supply with an increase of over Dhs187bn during 2007. Over this period, the figure rose from Dhs505.64bn to Dhs692.4bn, in a move considered to be the fastest monetary growth rate experienced by the country in five years. AME Info1 2 3 |
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