Georgia’s Crescent Bank and Trust largest of seven to fail
Number of US failures now expected to exceed last year’s total
More than 100 banks in the US have now collapsed so far this year after another seven were taken over by regulators late on Friday – the same day that seven European banks failed a financial [...]
Posts Tagged ‘financial market’
Seven more US banks collapse on day of Europe’s stress tests
July 24th, 2010 by HardMoney Writer
Tags: debt crisis, European Central Bank, European economy, financial market, financial system, investors, mortgages, us bank central
more...Progressive Profit Falls 15% on Investment Losses
July 14th, 2010 by HardMoney Writer
Progressive Corp., the fourth- largest U.S. auto insurer, said profit fell 15 percent on investment writedowns.
Second-quarter net income dropped to $211.9 million, or 32 cents a share, from $250.1 million, or 37 cents, in the year- earlier period, the Mayfield Village, Ohio-based company said today in a statement. Operating income, which excludes investment losses, was [...]
Tags: banks, economy, financial, financial market, global recovery, Hard Money Loans, investment, stock market
Mortgage Bonds Booming
July 2nd, 2010 by HardMoney Writer
Residential mortgage bonds, the center of the financial crisis not long ago, are once again darlings of the financial market.
Investors are seeking out mortgage bonds backed by the U.S. government as a safe haven from the tumult of the global economy, a reversal of fortune that has helped drive mortgage rates for consumers to record [...]
Tags: consumers, Fannie Mae, financial crisis, financial market, Freddie Mac, global economic, home sales, homeowners, housing market, investors, mortgage rates, mortgages
New Round of E.C.B. Funding Tempers Optimism
July 1st, 2010 by HardMoney Writer
Higher-than-expected demand for cash from the European Central Bank on Thursday signaled that many banks are still unable to get the funds they need on the open market, setting back policy makers’ efforts to take banks off life support.
Hopes that financial institutions were on the mend had risen Wednesday after 171 banks drew €131.9 billion, [...]
Tags: central bank, debt crisis, European Central Bank, financial crisis, financial market, hard money lender, hard money lenders, Hard Money Loans, investments, loan, money
G-20 Leaders in Canada Urged to Cut Deficits
June 27th, 2010 by HardMoney Writer
Leaders of the Group of 20 (G-20) nations are meeting in Toronto, Canada. Canadian Prime Minister Stephen Harper said the world’s economy remains fragile and still needs stimulus, but countries need to move on a specific time line to cut their deficits in half by 2013.
Addressing G-20 leaders seated around a large circular table, and [...]
Tags: barack obama, economy, financial, financial market, G-20, global economic, global recovery, IMF
Recovery fears dog European shares; banks fall
June 24th, 2010 by HardMoney Writer
* FTSEurofirst 300 index down 0.8 pct
* Banks, miners fall on growth worries
* Adidas pressured as Nike warns on costs
European share pricess were down at midday on Thursday, on track for a third straight session of falls as a downbeat assessment of the U.S. economy by the Federal Reserve weighed on sentiment, hitting banks and [...]
Tags: debt crisis, economic recovery, Federal Reserve, financial market, Hard Money Loans, JPMorgan, US Economy
China’s yuan move to help ties-U.S. ambassador
June 21st, 2010 by HardMoney Writer
* Yuan move removes “irritant” in U.S.-China relations
* Step a “genuine attempt” to provide yuan flexibility
* No real progress in military relationship (Adds details, quotes)
China’s signal over the weekend that it would give more room for the yuan to move is a genuine step toward currency reform that should help improve U.S.-China ties, the U.S. [...]
Tags: Bank of China, barack obama, china economy, financial market, global economic, global recovery, investments, stock market
U.S. Stocks Are Steady in Early Trading
June 18th, 2010 by HardMoney Writer
Markets on Wall Street opened little changed Friday, with consumer staples and industrial shares providing support, but the market was expected to seesaw with the expiration of futures and options contracts.
In early trading the Dow Jones industrial average was flat, at 10,435.30 points. The Standard & Poor’s 500-stock index lost 0.04 percent, at 1,115.64 points, [...]
Tags: chief economist, Dow Jones Industrial, European economy, eurozone economy, financial market, Financial Markets, hard money news, interest rates, money, stock market, wall street
U.S. Consumer Prices Fall on Lower Energy Costs
June 17th, 2010 by HardMoney Writer
Consumer prices fell for the second consecutive month in May, extending a break for Americans’ pocketbooks. Less expensive energy was the main factor pulling down prices.
But a weekly unemployment report found that the number of people filing new claims for jobless benefits jumped last week after three weeks of declines, a sign that hiring remains [...]
Tags: commerce department, consumers, debt crisis, European economy, eurozone economy, financial, financial market, global recovery, unemployment rate, US Economy
Producer Prices in U.S. Decreased 0.3% in May on Fuel
June 16th, 2010 by HardMoney Writer
Wholesale prices in the U.S. fell in May for the third time in the past four months, pulled down by lower costs for energy and food as European default concerns threatened to slow the global expansion.
The European debt crisis has prompted economists to trim inflation forecasts on increased prospects for weaker global growth and a [...]
Tags: commerce department, Commodities, economy recovery, European economy, eurozone economy, Federal Reserve, financial market, housing market, interest rates, money
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