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SEC adopts new rules for credit-rating agencies (AP)
Federal regulators on Wednesday adopted new rules designed to stem conflicts of interest and provide more transparency for Wall Street's credit-rating industry, widely faulted for its role in the subprime mortgage debacle and ensuing credit crisis.
yahoo.com

Our hungry planet: A time of want
As world hunger worsened this past year, some blamed countries that limited trading and began to hoard food. Others blamed free trade policies.
Startribune.com

Improve Your Credit Score
What you thought was a good FICO score could keep you locked out of getting a loan. Here's what to do.
Forbes

Record number of companies at risk of default
A fresh sign in the deterioration of credit market conditions emerged yesterday when one of the most closely watched barometers of sentiment broke through an important threshold
FT.com

FRC moves to avert a going concern `crisis`
David Jetuah , Accountancy Age, Thursday 4 December 2008 at 02:11:00Companies do not need to have a confirmation of credit lines from their banksto continue trading as a going concern, says FRCThe head of corporate reporting at theFinancial Reporting Councilhas said companies do not need to have confirmation of credit lines from theirbanks to continue trading as a going concern.The financial reporting watchdog last week issued guidance on when auditorsand directors should issue going concern warnings that a company may not stillbe trading in 12 months' time.Ian Wright told Accountancy Age that the FRC issued the guidancepartly to avoid a 'management disaster'. As a recession looms, he said there isthe risk of a stampede of companies trying to get their credit lines confirmedby banks. Failure to obtain confirmation could then see companies issue warningsover 'material uncertainty', questioning whether they could continue as a goingconcern in their financial repor
Telegraph

Canadian World Fund Limited: Canadian World Fund: Investment Update-Unaudited
TORONTO, CANADA (MARKET WIRE) Canadian World Fund Limited (TSX: CWF) reports on an unaudited basis that its net asset value per share (NAV) at November 30, 2008 was $2.96, resulting in year-to-date and 12-month NAV returns of -62.0% and -60.7%, respectively. These compare with the -31.7% and -33.3% returns of the benchmark Morgan Stanley Capital International All Country World Index, in Canadian dollar terms, for the same periods.
Marketwire.com

U.K. Banks Hit by Consumer Defaults
U.K. banks are seeing rising insolvencies as more consumers are unable to pay off credit-cards and personal loans.
Wall Street Journal

Canadian General Investments, Limited: Canadian General Investments: Investment Update-Unaudited
TORONTO, CANADA (MARKET WIRE) Canadian General Investments, Limited (CGI) (TSX: CGI)(TSX: CGI.PR.B)(TSX: CGI.PR.C)(LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at November 30, 2008 was $13.68, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of -56.7% and -55.3%, respectively. These compare with the -31.2% and -30.3% returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.
Marketwire.com

AIAM: AIAM Supports New Car Tax Credit Bill Sponsored by Senators Mikulski and Bond
ARLINGTON, VA (MARKET WIRE) Michael J. Stanton, President and CEO of the Association of International Automobile Manufacturers (AIAM), sent the letter below to Senators Mikulski and Bond, in support of S. 3684 which would allow consumers to deduct interest payments and excise taxes on new car sales and loans.
Market Wire

Capital One to Purchase Chevy Chase Bank
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.
The Washington Post

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