Mortgage and Financial News From 2008-10-10 Page 5
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G7 pledges urgent, decisive action as markets reel (Reuters via Yahoo! News)
Finance chiefs of the world's rich nations pledged on Friday to prevent big banks from collapse and to work together to stem the financial crisis after another day of gut-wrenching drops on world markets.
2008-10-10 06:11:26 -
Interest rates cut by 0.5% - Teletext
Homeowners and banks have been handed lifelines in a far-reaching attempt to rescue the ailing world economy. The Bank of England cut interest rates by 0.5% to 4.5% as part of a plan by central banks in Europe, the US and China to reduce the cost of ...
2008-10-08 09:17:00 -
Lamb: City’s investments safe (Lee's Summit Journal)
Although Wall Street seems to be in a crisis in recent weeks, the Lee’s Summit City Council was reassured on Thursday that the city’s investments are secure.
2008-10-10 06:14:46 -
G7 vows to fight credit crunch but details sketchy (Reuters via Yahoo! News)
The world's rich nations vowed on Friday to take all necessary steps to unfreeze credit markets and ensure banks can raise money but they offered no collective course of action to avert a deep global recession.
2008-10-10 06:18:33 -
Another wild ride on Wall Street - Quad-Cities Times
A trader holds his head as he works at his post on the floor of the New York Stock Exchange. Dow Jones industrials are down more than 300 points today in early trading. (AP Photo) At 1 p.m.: NEW YORK — Wall Street extended its devastating decline ...
2008-10-10 04:57:00 -
U.S. eyes bank equity stakes as world looks to G7 - Reuters
NEW YORK/WASHINGTON (Reuters) - The United States moved closer to taking equity stakes in banks on Thursday ahead of a G7 meeting of economic powers trying to stave off world financial ruin. The Treasury Department plans to start directly injecting ...
2008-10-09 11:01:00 -
In latest bold step, Treasury will buy bank stakes (Centre Daily Times)
The Treasury Department confirmed Friday evening that it will buy stakes in major U.S. banks and financial institutions, announcing the bold move as leaders of the world's leading industrialized democracies agreed to guidelines for joint action but stopped short of taking coordinated steps sought by investors worldwide.
2008-10-10 06:18:49 -
Recession stares on world's largest economy (Nasdaq)
(RTTNews) - The $700 billion bailout package passed by the House and signed into an Act by the US President George W Bush last week was meant to rescue the financial sector from a collapse and induce confidence in the market in particular and the economy at large.
2008-10-10 06:28:38 -
Security Bank of California Relocates its San Bernardino Branch - Marketwatch
The new 3,300 square foot office, located at 306 West Second Street, is situated right next door to the existing office. Business hours will remain the same, 9:00 am to 5:00 pm, Monday through Friday. "We are excited to welcome the San Bernardino ...
2008-10-10 02:34:00 -
BankMuscat announces its second CD auction - Times of Oman
MUSCAT — BankMuscat yesterday announced that the second issue of 1, 3 and 5-year Certificates of Deposits (CDs) with coupon rates of 5 per cent, 5.5 per cent and 5.75 per cent, respectively will be auctioned on October 15, 2008. The CDs will be ...
2008-10-10 05:12:00 -
G-7 Commit to `All Necessary Steps' to Stem Crisis (Update3) (Bloomberg)
Oct. 10 (Bloomberg) -- Group of Seven finance chiefs, meeting after global stocks plunged the most since 1970, pledged to prevent the failure of key banks while stopping short of fresh initiatives to thaw credit markets.
2008-10-10 06:33:18 -
Smaller banks see a customer surge (The Florida Times-Union)
Peter Hampton of Ortega used to deposit his money with a large bank, but started to have second thoughts when it emerged as a victim of the widening Wall Street meltdown.
2008-10-09 09:51:44 -
Planners field debt, investment queries at event (The Arizona Republic)
The Republic helped Valley residents get help.
2008-10-09 10:24:19 -
National City Bank sale could mean a few changes (The Cleveland Plain Dealer)
Customers may notice a few changes if National City is sold -- but not right away. It can take time to merge two huge banking systems, according to Kevin Mukri, spokesman for the Office of the Comptroller of the Currency, National City's regulator.
2008-10-10 01:50:38 -
Traders: 'We're in the 100-year flood' (Chicago Sun-Times)
The Chicago futures markets, where some traders eat fear for breakfast, has become a place of helpless uncertainty. They've seen bear markets and even short-term credit crises before, but nothing like this.
2008-10-10 02:11:27