November 28, 2008

• Stocks rise even as grim economic news pours in

  » Read the complete articleMassive stimulus efforts to stave off a global recession steadied stock markets on Thursday, but grim outlooks in China and elsewhere indicated the economic crisis still had a long way to run.

November 26, 2008

• Fed's new plans fail to depress dollar spreads

  » Read the complete articleA steady drift higher in dollar lending rates in Asia revealed that the U.S. (…)

November 25, 2008

• Huge Drop In Loans For New Homes

  » Read the complete articleMortgage lending fell again during October after making a slight recovery the month before. (…)

• U.S. commits over $5.704 trln in financial rescues

  » Click here for the original article in public funds, though a good portion of those funds may be recouped if the assets rise in value.

November 24, 2008

• What to expect from the pre-budget report

  » Click here for the original article into the economy in a gamble to stave off a deep recession.
  Chancellor set for pre-Budget report (Epolitix via Yahoo! (…)

November 23, 2008

• No quick fixes seen from key mortgage report

  » Click here for the original articleGovernment guarantees for mortgage-backed bonds and allowing lenders to swap loans for easily saleable government debt could be among proposed remedies for the ailing mortgage market in a report due out on Monday. (…)

• Brown defends plan to keep economy afloat

  » Read the complete articlePrime Minister Gordon Brown defended his plan on Sunday to inject billions of pounds of borrowed money into the economy to try to stave off a deep recession, saying failure to act could cause permanent damage. (…)

November 21, 2008

• Big Rise In Number Losing Homes

  » Click here for the original articleNew figures show 11,300 more homes were repossessed in the third quarter of the year - up 12% on the previous three months. (…)

• Citigroup slides and eyes options including merger

  » Click here for the original articleCitigroup Inc lost more than one-quarter of its market value on growing worries over whether it has enough capital to withstand billions of dollars of potential losses and despite new support from its largest individual investor.

November 20, 2008

• Barratt non-exec opens account

  » Read the full storyA round-up of the biggest director deals today so far.

• Prospect for auto bailout dims as Senate races clock

  » Read the full storyChances dimmed that a last-minute plan being crafted by Republican U.S. senators, with White House support, to provide $25 billion to bail out U.S. (…)

November 18, 2008

• Broker snap: Profit warning fear for L&G

  » Read the complete articleDespite management putting a brave face on things at Monday's investor day gathering, JP Morgan has not been dissuaded from its view that Legal and General is the UK insurer most likely to issue a profit warning.

November 17, 2008

• Job losses creating 'homelessness time bomb'

  » Read the full storyA third of Britain's working population would lose their homes within three months without their main form of income, a survey revealed today.

• Survey shows house asking prices down 7.1% since last November

  » Read the full storyIncreasingly desperate sellers slashed asking prices for homes in England and Wales by 2.9 percent in November, pushing them 7.1 percent below their level a year ago, a survey showed on Monday. (…)

November 16, 2008

• Financial crisis since October

  » Read the complete article - Here is a chronology of the global financial crisis since October:
  CORRECTED-LSE chief Furse's defensive mettle may pro (Reuters via Yahoo! (…)

November 14, 2008

• White House reviewing FDIC mortgage plan

  » Read the complete articleThe White House on Friday said it was carefully reviewing a plan by the Federal Deposit Insurance Corp to prevent foreclosures by sharing any losses with mortgage companies that agree to refinance certain home loans. (…)

November 13, 2008

• US abandons plan to buy toxic assets

  » Read the full storyThe US government has abandoned plans to buy up the toxic mortgage assets at the heart of the global financial crisis, a reversal that helped send ailing world markets spiralling even lower. (…)

November 12, 2008

• US lays out sweeping program to ease mortages

  » Read the full storyThe US government Tuesday sought to put a floor under soaring home loan defaults and falling property values with a sweeping program to ease payment terms for hundreds of thousands of struggling homeowners.

November 11, 2008

• Citigroup to help 500,000 mortgage holders keep homes

  » Click here for the original articleCitigroup said Tuesday it was placing a moratorium on foreclosures for most home loan borrowers, and that it would work with some 500,000 stretched mortgage customers to help them keep their homes.

• Home Sales Hit New Record Low

  » Read the complete articleThe number of homes changing hands hit a new record low in October - but chartered surveyors are optimistic that business will pick up soon.