USA / Finance & Investments
Citi backs mortgage bankruptcy reform: senators
08.01.2009 16:08
washingtonpost.com
WASHINGTON (Reuters) - Financial giant Citigroup Inc has agreed to support a rewrite of bankruptcy law being proposed in the U.S. Congress to help troubled mortgage borrowers avoid foreclosure, lawmakers said on Thursday.
USA
Finance & Investments
Citi backs mortgage bankruptcy reform: senators
08.01.2009 16:07
washingtonpost.com
WASHINGTON (Reuters) - Financial giant Citigroup Inc has agreed to support a rewrite of bankruptcy law being proposed in the U.S. Congress to help troubled mortgage borrowers avoid foreclosure, lawmakers said on Thursday.
USA
Finance & Investments
Madoff 'victims' do math, realize they profited
08.01.2009 16:07
washingtonpost.com
NEW YORK -- The many Bernard Madoff investors who withdrew money from their accounts over the years are now wrestling with an ethical and legal quandary.
USA
Finance & Investments
Nasdaq CEO sees market role in financial crisis
08.01.2009 16:07
washingtonpost.com
WASHINGTON -- The markets can help the nation emerge from the current financial crisis by providing transparency for secretive investments that helped fuel the disaster, but the government needs to put better rules in place to make that happen, the head of the Nasdaq stock market said Thursday.
USA
Finance & Investments
Stocks end mostly higher after mortgage deal
08.01.2009 16:07
washingtonpost.com
NEW YORK -- A deal to help head off more mortgage foreclosures pulled Wall Street out of a slump Thursday, giving stocks a mostly higher close. Democratic lawmakers reached an agreement with Citigroup Inc. on a plan to let bankruptcy judges alter loans in an effort to prevent homes from going into foreclosure. Other lenders are expected to follow suit.
USA
Finance & Investments
Treasurys mixed after strong 10-year note auction
08.01.2009 16:07
washingtonpost.com
NEW YORK -- The Treasury has auctioned off a massive $54 billion in notes and other longer-term securities this week. And at each auction, demand was twice as high as supply.
USA
Finance & Investments
Gold prices advance moderately as dollar weakens
08.01.2009 16:07
washingtonpost.com
NEW YORK -- Gold prices pulled off a moderate advance Thursday, but other commodities slumped for a second straight day as a profit warning from Wal-Mart Stores Inc. amplified investors' concerns about waning demand for products of all kinds.
USA
Finance & Investments
Considering dumping a mutual fund? Think twice
08.01.2009 16:07
washingtonpost.com
BOSTON -- Fiscal fitness is knocking weight loss off the top of many New Year's resolution lists, thanks to 2008's market drubbing. That often means casting off last year's worst-performing mutual funds for more promising alternatives.
USA
Finance & Investments
A look at economic developments around the world
08.01.2009 16:07
washingtonpost.com
-- A look at economic developments and stock-market activity around the world Thursday:
USA
Finance & Investments
Stocks up on expected foreclosure deal but Dow off
08.01.2009 16:07
washingtonpost.com
NEW YORK (Reuters) - Most U.S. stocks rose on Thursday after news that Citigroup Inc agreed to support legislation aimed at stemming home loan foreclosures, offsetting Wal-Mart's disappointing sales and outlook.
USA
Finance & Investments
Banks borrow more, investment firms less from Fed
08.01.2009 16:07
washingtonpost.com
WASHINGTON -- Commercial banks borrowed more, while investment firms drew less over the past week from the Federal Reserve's emergency lending program.
USA
Finance & Investments
Madoff had $173 million in checks ready, U.S. says
08.01.2009 16:07
washingtonpost.com
NEW YORK (Reuters) - Accused swindler Bernard Madoff had signed checks totaling more than $173 million in his office desk ready to be sent out before his arrest, U.S. prosecutors said in court papers on Thursday asking a judge to jail him.
USA
Finance & Investments
Citi reaches deal with lawmakers on home loans
08.01.2009 16:07
washingtonpost.com
WASHINGTON -- Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and urged other lenders to follow suit.
USA
Finance & Investments
Corporate America faces big pension shortfalls
08.01.2009 16:07
washingtonpost.com
NEW YORK (Reuters) - Collapsing stock prices have created shortfalls in pension plans in dozens of large U.S. companies, which may require them to pump in tens of billions of dollars of cash, hurting earnings.
USA
Finance & Investments
Citi reaches deal with lawmakers on home loans
08.01.2009 16:07
washingtonpost.com
Senate leaders won the support of Citigroup, one of the nation's largest banks, for legislation allowing bankruptcy judges to modify the terms of troubled mortgages.
USA
Finance & Investments
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