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Citigroup Returning Billions To Investors Citigroup Inc. will buy back more than $7 billion in auction-rate securities and pay $100 million in fines as part of settlements with federal and state regulators announced. CBS News Thursday, August 07, 2008
EPA readies decision on ethanol outputThe U.S. Envronmental Protecton Agency will announce Thursday afternoon whether or not it will reduce the nation's ethanol production requirements. CNN Money Thursday, August 07, 2008
Not-so-Happy Credit Squeeze MilestoneSeveral television financial correspondents were announcing at the beginning of this week that Monday was the first anniversary of the credit squeeze. It is unclear whether any one day can claim that dubious distinction, but August 2007 was certainly a cruel month. Read More Now Mortage News Thursday, August 07, 2008
Mortgages: New fees by Fannie Mae may drive mortgage rates higherThe average rate on the 30-year fixed mortgage remained flat this week, and other mortgage rates moved little, according to Freddie Mac's weekly survey released on Thursday. But a new fee structure announced by Fannie Mae may push rates higher in the weeks ahead. MarketWatch.com Thursday, August 07, 2008
Oil giant BP puts $90 million into U.S. biofuel companyBP's announced Wednesday that it will invest $90 million in U.S. biofuels company Verenium Corp. HoustonChronicle.com Thursday, August 07, 2008
Bank of England to announce rate decisionThe Bank of England was to make its latest decision over British interest rates on Thursday, with some economists forecasting a surprise rise in borrowing costs owing to surging inflation. Most analys... The UK News Thursday, August 07, 2008
Industrial Info Resources: General Motors Continues to Downsize as Shift Eliminations and White-Collar Job Cuts Are Announced, an Industrial Info News AlertSUGAR LAND, TX (MARKET WIRE) Researched by Industrial Info Resources (Sugar Land, Texas) -- The downward spiral that is the multiyear reorganization plan for General Motors Corporation (NYSE: GM) (Detroit, Michigan) only continues to get steeper as the former No. 1 automaker has been forced to continue its program of buyouts, layoffs, production cuts, plant closures and shift eliminations at its North American facilities. Most recently, the automaker announced several plant closures as a result of the dramatically weakened truck and SUV market. Ford Motor Company (NYSE: F) (Dearborn, Michigan) and Chrysler LLC (Auburn Market Wire Thursday, August 07, 2008
NY Attorney General Settles With CitigroupThe settlement announced Thursday requires Citigroup to buy back securities from retail customers. NBC11 Thursday, August 07, 2008
Bank of England to keep interest rates at 5 percent(15 mins ago) The Bank of England announced that it has decided to leave its key short-term interest rate at 5 percent after its latest monthly policy meeting. The widely-expected decision comes ... The UK News Thursday, August 07, 2008
Halifax Shows 22k House Price DropHalifax announced that the average house now costs £177,351. The figure is £21,733 lower than twelve months ago and about the same as in June 2006. Prices fell by 1.7% in July, representing a slow... The UK News Thursday, August 07, 2008
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