Mortgage and Financial News From 2008-2-20 Page 15

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  • European Stocks Fall; Alliance & Leicester, Vodafone Decline

    Bloomberg - ... stocks fell for the first time in three days on concern expanding losses in credit ... The U.K. mortgage lender scrapped its profit target for this year and next because of ... An oil price at $100 a barrel is psychologically bad for the market,'' said ...
    2008-02-20 08:09:00

  • Community groups seek Countrywide foreclosure halt

    Reuters - ... California community groups called on Wednesday for a moratorium on mortgage ... Countrywide's bad lending practices are ruining the dreams of thousands of ... in January to record highs, reflecting the nation's deepening housing and credit ...
    2008-02-20 07:19:00

  • Alliance & Leicester's Bleak Outlook

    Forbes - LONDON - Alliance & Leicester's annual results were bad enough. But worse? The mortgage lender's outlook for 2008 got scrapped. ... relies heavily on the short-term lending market, which in recent months has been squeezed by the global credit ...
    2008-02-20 07:41:00

  • Wall Street pares gains as oil surges, banks see more credit problems

    Independent - So far, global banks have written down more than $150 billion from bad bets on mortgage-backed securities — and more losses are expected to the first quarter. British bank Barclays Group PLC revealed credit-related losses totaling $3.13 billion, up ...
    2008-02-20 06:43:00

  • GLOBAL MARKETS-Inflation and credit shake investors

    Forbes - ... investors have been shaken by a series of reminders that the trouble in the credit ... Commission on Tuesday, it said it had delayed repayment of debt backed by mortgage ... The mood was generally bad already, and then this came out. It really dented ...
    2008-02-20 03:37:00

  • Treasuries Rise as Stocks Fall on Widening Credit-Market Losses

    Bloomberg - Alliance & Leicester Plc, a U.K. mortgage lender, said net income fell 67 percent in the second half. Credit Agricole SA, France's biggest retail bank, may write ... Bonds are taking their direction from the latest bad news story, and there are plenty of ...
    2008-02-20 04:42:00

  • Brazilian Real Drops From Eight-Year High Amid Credit Concerns

    Bloomberg - Investors are staying away from risk because of the latest bad news in the financial ... Leicester Plc slumped to the lowest level since going public in 1997 after the U.K. mortgage lender scrapped its profit targets because of the seizure in credit ...
    2008-02-20 08:02:00

  • China banks could face credit crisis of their own

    International Herald Tribune - HONG KONG : Banks in China seem to have dodged a bullet in the U.S. subprime mortgage crisis. Chinese lenders accumulated large amounts of that bad debt. But bankers have assured investors they are within manageable levels that won't greatly affect ...
    2008-02-20 03:59:00

  • KKR debt delay fans credit fears

    BBC Business - The value of these loans has been hit by record defaults in the US mortgage market, particularly among sub-prime borrowers with poor credit histories. 'Confidence dented' "The mood was generally bad already, and then this came out. It really dented ...
    2008-02-20 03:51:00

  • McCain, Obama easily extend their leads

    Houston Chronicle - He shrugged off the advertising volley, and said that while he should have given Patrick credit, the controversy didn't amount ... Bad trade deals like NAFTA hit Ohio harder than most states. Only Barack Obama consistently opposed NAFTA," it said. Clinton ...
    2008-02-20 07:48:00

  • West Valley holds its own (Glendale Star)

    Yes, the country is “probably” going through a recession. Yes, the housing market is going to get worse. Retail sales are off, and employment actually turned negative last month.
    2008-02-20 07:13:58

  • Examiner.com Related Articles: (The San Francisco Examiner)

    In the first hour of trading, the Dow Jones industrial average fell 64.15, or 0.52 percent, to 12,273.07. Broader stock indicators also declined. The Standard & Poor's 500 index fell 7.11, or 0.53 percent, to 1,341.67, and the Nasdaq composite index fell 4.69, or 0.20 percent, to 2,301.51.
    2008-02-20 07:27:03

  • BNP Paribas Profit Down 42% (NYTimes.com via Yahoo! Finance)

    The French bank said that fourth-quarter net profit fell to 1 billion euros due to write-downs of securities affected by the financial markets crisis.
    2008-02-20 07:39:03

  • Examiner.com Related Articles: (The San Francisco Examiner)

    Housing market figures also added to Wall Street's list of worries. The Commerce Department said housing starts rose by 0.8 percent in January, but only after plunging by a downwardly revised 14.8 percent in December. Building permits, a more forward-looking indicator, fell by 3 percent.
    2008-02-20 07:42:28

  • The Latest Bank Bungle (Fool.co.uk via Yahoo! UK & Ireland Finance)

    The bank reporting season has kicked off with tales of some real howlers. Alliance & Leicester is the latest lender on the rack...
    2008-02-20 07:51:39

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