Mortgage and Financial News From 2008-6-18 Page 4
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Trading Hurts Morgan Stanley Profits (NYTimes.com via Yahoo! Finance)
With its core securities trading business feeling the tight credit market, the investment bank reported a 58 percent fall in quarterly profit. The results were broadly in line with analysts’ expectations.
2008-06-18 05:37:30 -
Morgan Stanley in rogue trade probe - Financial Times
Morgan Stanley on Wednesday became the latest financial group to be hit by the actions of a suspected rogue trader after revealing that a London-based credit derivatives trader had incorrectly valued his positions, forcing the company to take a $120m ...
2008-06-18 11:42:00 -
Fundamentalist views: there is a positive US story hidden amid the ... - Daily Telegraph
So the big drop on Wall Street earlier this month was down to bad jobless figures – or was it because of the rampaging oil price? Alan Steel: 'it's worth looking at things from a different angle' Or was it the sub-prime disaster, coupled with the ...
2008-06-18 04:42:00 -
Europe stocks fall on bank worries; M. Stanley eyed - Reuters
LONDON, June 18 (Reuters) - European stocks fell early on Wednesday as concerns over banks persisted ahead of results from Morgan Stanley (MS.N: Quote , Profile , Research , Stock Buzz ), while shares in oil groups tracked the price of crude lower ...
2008-06-18 03:38:00 -
Morgan Stanley Suspends Credit Trader on Valuations (Update1) - Bloomberg
June 18 (Bloomberg) -- Morgan Stanley suspended a credit trader and disclosed a $120 million ``negative adjustment'' related to erroneous valuations of his positions, Chief Financial Officer Colm Kelleher said. The New York-based firm is cooperating ...
2008-06-18 12:53:00 -
Tory couple breached expenses rules - Hounslow Guardian
Two Tory MPs have been rebuked for claiming back tens of thousands of pounds in rent for a flat they effectively owned outright. Parliament's sleaze watchdog ruled that Sir Nicholas and Lady Ann Winterton "unequivocally" broke the rules by ...
2008-06-18 04:42:00 -
Wall Street's credit crisis heads into second year - CNBC
NEW YORK - There are new signs that the worst of the global credit crisis is yet to come, and that banks and brokerages caught up in the market turmoil may lose $1 trillion by the time it has passed. Major U.S. investment banks this week announced ...
2008-06-18 12:53:00 -
Countrywide Spread Its Donations Far And Wide - CBS News
(The Politico) All of the controversy over the Countrywide Financial's "VIP" mortgage program has centered on two Democratic senators, but when it comes to campaign contributions, the home lender's employees and its PAC have spread their money far ...
2008-06-18 03:09:00 -
AIG Board Names a New Chief Executive (The Lakeland Ledger)
NEW YORK | When Robert Willumstad said goodbye to Citigroup Inc. three years ago, he boldly declared he was leaving to run a major company. Now, at 62, he's making good on that promise - at a floundering AIG during the most challenging climate of his four-decade career.
2008-06-18 12:52:07 -
John Mack Needs A Win For Morgan Stanley (Forbes)
Investment firm's operations were barely profitable this quarter.
2008-06-18 02:06:31 -
John Mack Needs A Win (Forbes)
Morgan Stanley's operations were barely profitable this quarter.
2008-06-18 03:53:13 -
Fifth Third stock plunges 27 pct after moves (Bay News 9 Tampa Bay)
By DAN SEWELL CINCINNATI (AP) -- Fifth Third Bancorp shares plummeted 27 percent Wednesday after the regional bank, facing rising loan losses, said it will slash dividends and try to raise $2 billion with a stock offering and sale of noncore businesses.
2008-06-18 04:17:49 -
Childers Unplugged (Jackson Free Press)
Within 63 days, Travis Childers went from being a former Prentiss County chancery clerk to one of the biggest butt-pains the Republicans have experienced in 15 years.
2008-06-18 04:33:37 -
Sub-prime legend John Paulson warns it's not over (Daily Telegraph)
John Paulson, the hedge fund manager who made almost £2bn from correctly calling the implosion of US sub-prime mortgages last year, warned that the credit crisis is not over.
2008-06-18 04:36:05 -
Petrol pain hits mortgage belt hardest - News.com.au
Households in outer lying suburbs hit hardest by fuel prices Battlers in a "fuel-contrained" world forced to use the car Mortgages : What do rising rates mean for you? BATTLERS in outerlying suburbs are being hit the hardest by rising fuel prices, as ...
2008-06-18 01:58:00