Create your own free news widgets.

Foreign central banks continued to trim holdings of U.S. mortgage-related debt, in a sign of the uncertainty weighing on Fannie Mae and Freddie Mac.

Dow Chemical took hits to its credit rating and its stock price as the cancellation of a Kuwaiti joint venture sparked concerns about the company's debt load.

Britain's biggest department store chain and two leading entrepreneurs showed growing signs of strain as the recession tightened its grip on the high street. Debenhams, the private equity owned chain, is planning to raise more cash to reduce debt levels, amid worsening prospects

The plunge in housing prices involving subprime loans may be deeper than widely accepted indices suggest, some analysts have concluded.

Emergency loans for two of the nation's top automakers didn't materialize Monday, but the Treasury Department said it would finalize the loans in time to meet the needs of the struggling companies.

As a result of steep increases in the cost of energy and food and rising unemployment, the number of people struggling with debts has surged over the last 12 months.The Government-funded National Debtline said the number of calls increased from around 16,000 a month a year ago to 23,000 in November. According to Paul Mullins, [...]

Globe Pub Company, the pub operator owned by property entrepreneur Robert Tchenguiz, is to call in financial advisers to look at 'operational issues' within the group after another quarter of poor trading left it within inches of breaching its debt covenants

The agency reportedly plans to unload IndyMac to group of private equity and hedge fund firms. Questions remain as to whether its aggressive loan modification plan will continue.

Whether you are young or old, you need an asset allocation game plan for 2009. Here's the next installment of age-based investment tips for 2009 from Bob Mecca, an independent and fee-only certified financial planner in Mt. Prospect and Hoffman Estates, Ill.Ages 25 to 35This group tends to switch jobs frequently. First, maximize 401(k) contributions. Concentrate on growth. Next, whenever a job is terminated, roll your 401(k) assets to a self directed IRA. Do not cash in to avoid costly income tax and penalties. Set up a college 529 plan for the children. Invest as little or maximum as you can but do so on a disciplined basis. Watch living expenses. Keep a budget. This bracket tends to spend more money on 'wants' versus 'needs' which can find them with significant credit cards. If you have big credit card balances, make a 2009 resolution to pay off quickly. Cut back on living costs and pay down the credit debt starting with the highest costing rate. Check into zero percent cred

Swedish roof-rack maker Thule Group said it has undergone a debt restructuring that saw its lenders swap debt for equity in the company.