Mortgage and Financial News From 2008-6-26 Page 5
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Arbor Realty Trust Monetizes a Portion of its Equity Interest in Prime for $37 Million (PR Newswire via Yahoo! Finance)
Arbor Realty Trust, Inc. , today announced that the Company has entered into an agreement to transfer 16.67% of its 24.17% interest in Prime Outlets, at a value of approximately $37 million, in exchange for preferred and common operating partnership units of Lightstone Value Plus REIT L.P.
2008-06-26 01:35:00 -
California and Illinois Sue Countrywide (US News & World Report)
States file legal actions against the mortgage lender.
2008-06-26 01:35:15 -
BofA to cut 7,500 jobs after Countrywide deal (AP via Yahoo! Finance)
Bank of America said Thursday it will cut about 7,500 jobs after it closes its acquisition of mortgage lender Countrywide Financial Corp.
2008-06-26 01:37:14 -
When a Done Deal Unravels (NYTimes.com via Yahoo! Finance)
Hexion agreed to buy Huntsman Chemical for $10.6 billion, or $28 a share. But Hexion called it off, and the lawsuits started flying.
2008-06-26 01:37:33 -
BofA to lay off 7,500 after Countrywide deal (Los Angeles Business Journal)
Bank of America Corp will cut 7,500 jobs as part of its acquisition of Countrywide Financial Corp. (BAC) (CFC)
2008-06-26 01:38:02 -
The Dollar Has Fallen And Can't Get Up (Forbes)
If you were looking for the U.S. dollar to break its seven-year downtrend, you'll need to wait some more.
2008-06-26 01:38:31 -
Calif. attorney general sues Countrywide Financial - Detroit Free Press
The lawsuit — filed on the same day Countrywide shareholders approved the company’s takeover by Bank of America Corp. — stems from information gathered under subpoena after the state launched a probe last year into the troubled company’s ...
2008-06-25 05:24:00 -
Winners, losers and 'friends' - Chicago Tribune
For all those who are too busy leading normal lives to keep score on the subprime housing mess, here's how the winners and losers stack up at the moment: • Countrywide Financial Corp . , the nation's largest mortgage company, leads both categories ...
2008-06-25 11:51:00 -
SBI hikes interest rate by 0.5 percent - MSN India
The revised rates shall apply to all PLR-related lending and will restore the benchmark rate to the rate prevailing in January this year Mumbai: The country's largest public sector bank, the State Bank of India (SBI), on Thursday hiked its benchmark ...
2008-06-26 08:19:00 -
Federal Reserve holds rates steady for now - WJLA
That meant the prime lending rate for millions of consumers and businesses stayed at 5 percent. The prime rate applies to certain credit cards, home equity lines of credit and other loans. The decision brought to a close a powerful series of rate ...
2008-06-26 10:56:00 -
Monday, June 23 - News.com.au
THE death of Jane McGrath from breast cancer has prompted a surge in calls to the state's Cancer Council Helpline from worried Tasmanians. LESS than 50 per cent of Tasmania's public school students finish Year 12 according to the state's first "warts ...
2008-06-26 07:00:00 -
Treasury boss goes bush on wombat patrol - News.com.au
THE man at the helm of Australia's troubled economy will leave his post for nearly five weeks to look after a colony of endangered wombats. Ken Henry, the Treasury Secretary, will miss an important Reserve Bank Board meeting and be out of mobile ...
2008-06-26 07:36:00 -
More rains hit flooded U.S. Midwest - International Herald Tribune
CEDAR RAPIDS, Iowa : More storms dumped crop-drowning rains on parts of the U.S. Midwest on Thursday, threatening strained levees and slowing recovery from a multibillion-dollar flood disaster in the heart of the world's biggest grain and food ...
2008-06-26 11:03:00 -
Turkey May Dip Into Reserves for Record Debt Payments (Update2) - Bloomberg
June 26 (Bloomberg) -- Turkey may dip into cash reserves to help pay a record $36 billion of domestic debt due in the next two months as borrowing costs soar. The Treasury is considering using some of the 20 billion liras ($16.5 billion) of reserves ...
2008-06-26 10:56:00 -
Stocks: The Fed Rally Fades - MSN MoneyCentral
Wall Street appeared to have second thoughts about its initially positive reaction to the Federal Reserves policy statement on Wednesday. The Fed did as expected, holding the federal funds rate target at 2.0% at the conclusion of its two-day policy ...
2008-06-26 07:50:00