Mortgages News

WASHINGTON (Thomson Financial) - US Treasury Secretary Henry Paulson told G7 finance ministers today that a strong dollar is still in the US economic interest, but declined to say whether other G7 finance ministers pressed the US on the rapid decline of the dollar and how it is affecting their exports. "I was very clear and it didn't surprise anyone... that I believe a strong dollar is in ou ...

SINGAPORE (Thomson Financial) - A robust increase in loans amid a property and construction boom is expected to boost third-quarter earnings for Singapore banks but provisions may prove a drag as banks set aside reserves to cover potential losses on risky collateralized debt obligations (CDOs). Analysts polled by Thomson Financial have mixed views on provisioning strategies, resulting in a wide g ...

SYDNEY (Thomson Financial) - The US dollar extended losses against major currencies in midmorning trade Friday after significantly higher than expected weekly jobless claims and disappointing corporate earnings overnight triggered heavy selling in the greenback as investors switched to safer assets. The dollar fell to an all-time low against the euro and a 2-week low against the yen in New York t ...

CHARLOTTE, N.C. (AP) - Bank of America Corp.'s plunging profits shocked Wall Street Thursday and prompted a clearly frustrated chief executive Kenneth Lewis to say that changes loom in its investment banking business. "I've had all of the fun I can stand in investment banking at the moment," said Lewis, who heads up the nation's second largest bank. "So to get bigger in it is n ...

Simon English, Evening Standard18 October 2007, 2:27pm The Bank of England is unlikely to cut interest rates until next year at the earliest, economists said today after figures showed that business is booming on UK High Streets. WANT TO KNOW MORE? Interest rates: News, analysis, advice OTHER STORIES Tax rescue for Northern Rock Isa savers UK house-price bubble about to burst -  ...

WARSAW (Thomson Financial) - A slowdown in home loan and mutual fund growth took the shine off Polish midsized lender Bank Millennium's results today, sending the stock 3 pct lower despite a forecast-beating 76 pct jump in net profit. Millennium, Poland's ninth-biggest bank and controlled by Portugal's Banco Comercial Portugues, is seen as a bellwether for a banking sector that has boomed since P ...

(Updating with latest quarterly earnings reports) LONDON (Thomson Financial) - Wall Street is looking at a lower open as the recent turmoil in the credit markets took their toll on Bank of America and Washington Mutual, with both banks posting earnings that fell short of analyst expectations. The weakness in the banks' results offset solid earnings at EBay and a number of positive results out of ...

MEMPHIS, Tenn. (AP) - First Horizon National Corp. surprised analysts by swinging to a loss in the third quarter, as the bank fetched cheaper prices for home loans and credit quality disintegrated. First Horizon lost $14.2 million, or 11 cents per share, in the third quarter, compared with profit of $67.1 million, or 53 cents per share, in the third quarter of 2006. Analysts polled by Thomson Fin ...

COLUMBUS, Ohio (AP) - Regional bank Huntington Bancshares Inc. said Thursday third-quarter earnings fell 12 percent as merger-related costs and the tightening of the credit market offset a big jump in income. Profit fell to $138.2 million, or 38 cents per share, from $157.4 million, or 65 cents per share, during the same quarter a year ago. Analysts polled by Thomson Financial, on average, forec ...

Charlotte Beugge, Daily Mail18 October 2007 With less than ten weeks to go until Christmas, now's the time to sort out the cleverest way to pay for the festivities. XMAS SHOPPING: Get rewarded for spending onm Christmas presents. WANT TO KNOW MORE? More: Abbey offers 5% cashback to shoppers Tables: See the best cards for purchasing Tips: Don't get into Christmas debt OTHER STORIES ID theft soars as gangs target wealthy Rock ratchets up loan rates No penalty for pa ...