Moody’s credit rating agency downgraded five Greek banks on Wednesday, saying their finances will suffer from the effects of the country’s public debt crisis — including painful austerity measures and a long recession.
The credit rating agency said the outlook on the banks — National Bank of Greece, EFG Eurobank Ergasias, Alpha Bank, Piraeus Bank and [...]
Archive for the ‘hard money lender’ Category
Moody’s downgrades Greek banks, long slump feared
March 31st, 2010 by HardMoney Writer
Tags: borrowing costs, credit rating, debt crisis, financial crisis, greek banks, recession
more...Manufacturing execs more upbeat on recovery
March 30th, 2010 by HardMoney Writer
U.S. manufacturing executives have a brighter outlook on the economic recovery than do their colleagues in the European Union or the service sector, according to a study released on Tuesday.
But that new confidence does not signal a pickup in hiring, with less than half of U.S. manufacturing officials expecting to boost their companies’ employment, the [...]
Tags: business activity, economy recovery, european union, united technologies, us manufacturing
China economy to grow 12 percent in Q1
March 29th, 2010 by HardMoney Writer
China’s annual economic growth will reach 12 percent this quarter, a government researcher said in remarks published on Monday, as economists ratchet up growth forecasts following strong industrial output growth last month.
Yu Bin, head of macroeconomic research at the State Council Development Research Center, said the Chinese economy would face relatively heavy downward pressure on [...]
Tags: china economy, economic growth, financial crisis, shanghai securities
Economic growth revised slightly lower in Q4
March 26th, 2010 by HardMoney Writer
The economy grew at a slightly less brisk pace in the fourth quarter than previously estimated, while corporate profits slowed sharply from the prior quarter, government data showed on Friday.
Analysts said while the report was evidence the economy emerged from recession in the second half of 2009, the underlying growth pace was not robust enough [...]
Tags: economic growth, financial services, recession, stocks rose, unemployment
Housing market’s recovery appears at risk
March 24th, 2010 by HardMoney Writer
The recovery in the housing market is at risk of collapsing.
Home sales are sliding, prices are stalling and foreclosures are rising. And mortgage rates are likely to go up after next week, when the Federal Reserve ends a program that has driven them down.
The trend could threaten the broader economy, economists warn. People whose home [...]
Tags: Federal Reserve, foreclosures, home equity, home sales, housing market's, mortgage rates
KB Home posts smaller loss in 1Q
March 23rd, 2010 by HardMoney Writer
KB Home posted a smaller loss its fiscal first quarter, as the homebuilder saw signs of stability in the housing market.
KB Home said Tuesday its new home orders increased 5 percent to 1,913 in the quarter compared with the prior year. In another positive sign, the number of buyers canceling contracts fell to 22 percent [...]
Tags: buyers, home orders, homebuilder, housing market, interest rates, kb home, unemployment
UK industry group sees 2010 growth as sluggish
March 22nd, 2010 by HardMoney Writer
Economic recovery in Britain will be sluggish through the middle of next year as lending remains tight and both the government and the private sector look to pay off debt, the Confederation of British Industry forecast Monday.
The influential business group said the economy will remain fragile as stimulus measures including a temporary sales tax cut [...]
Tags: economic adviser, economy recovery, private sector, uk consumer, uk industry
Fed weighs how and when to signal higher rates
March 16th, 2010 by HardMoney Writer
Debate is heating up within the Federal Reserve over how and when to signal that the days of record-low interest rates are numbered.
A rate hike isn’t imminent. But at their meeting, which started Tuesday morning, Federal Reserve Chairman Ben Bernanke and his colleagues will likely focus on how to telegraph that higher rates are coming [...]
Tags: borrowers, economic recovery, fed, Federal Reserve, interest rates, investors
US industrial output stutters amid winter storms
March 15th, 2010 by HardMoney Writer
US industrial production inched up 0.1 percent in February, grinding to a near-halt amid severe snow storms that crippled large parts of the East Coast, Federal Reserve data showed Monday.
The small rise in industrial output came after a revised 0.9 percent January increase, up 0.2 percentage points from the initial reading, and was better than [...]
Tags: economic recovery, fed, Federal Reserve, recession, us industrial
California revenue jumps, tax refunds should be paid on time
March 11th, 2010 by HardMoney Writer
California’s revenue in February was $480 million or 8.7 percent above the estimate in Governor Arnold Schwarzenegger’s state budget plan, so tax refunds should be paid on time, State Controller John Chiang said on Wednesday.
There had been some talk in the state capital of Sacramento that tax refunds could be delayed, as they were temporarily [...]
Tags: recession, sacramento, tax, tax refunds, wall street
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