Business Highlights
CNBC - WASHINGTON (AP) — Fannie Mae’s CEO told shareholders Friday he does not anticipate a housing market recovery until late 2009, “at the earliest,” and that the mortgage-finance company is strong enough to ride out the downturn. After posting a third
Micro-finance Boosts the Poor
BusinessWeek - There is a misperception that the “high” interest rates of micro-finance gouge the recipients. To the contrary, borrowers benefit significantly despite “high” interest rates. Why? Returns on investment for micro-enterprises are extremely high
D.C. Official Accused in $20M Scheme
Philadelphia Inquirer - The audacious scheme has been an embarrassment for the city’s finance chief, Natwar Gandhi, who has been praised for helping to produce surpluses and strong bond ratings for Washington, a city that was headed toward insolvency in the 1990s after
Dollar’s slide adds to rise in energy, food prices
San Diego Union-Tribune - I think we’re in trouble with the weak dollar,” stated Minucci, who works in the Capital Markets Finance group at JPMorgan Chase. The dollar has fallen because of concerns among investors worldwide about the U.S. economy, especially since a cascade
Quebec to probe Montreal Exchange trading - report
Reuters - Quebec’s finance minister, Monique Jerome-Forget, said at a news conference that the provincial Autorite des marches financiers was looking into whether certain Montreal Exchange directors who purchased shares in the summer may have profited from
Senate passes $286 billion farm bill expanding subsidies for growers
Minneapolis Star Tribune - One of them is the creation of new $5 billion fund for weather-related agricultural disasters in the Senate version that was added by Senate Finance Committee Chairman Max Baucus, a Montana Democrat who is up for re-election next year. Home
U.S. Housing Crash Deepens in 2008 After Record Drop (Update2)
Bloomberg - Dec. 14 (Bloomberg) — For U.S. homeowners, builders, bankers and realtors, the crash of 2007 will only get worse in 2008. Everyone from mortgage-finance company Fannie Mae to Lehman Brothers Holdings Inc. expects declines next year. Existing home
Guilty Pleas in California Terror Case
Philadelphia Inquirer - Authorities stated the men committed about 10 holdups to finance the attacks. James faces as many as 20 years in prison when he is sentenced March 31. Washington faces as many as 20 years in prison on the conspiracy charge and five years to life for the
Lufthansa Wants to Tap JetBlue Routes, Mayrhuber States (Update4)
Bloomberg - For JetBlue, the investment comes after a fivefold surge in net debt over the last four years to $2.17 billion to help finance the fastest expansion of any of the eight largest U.S. airlines, according to data compiled by Bloomberg. JetBlue posted
Woods takes Target lead with a 62
Miami Herald - Business Monday | National | International | Personal Finance | Technology | Small Business Food | Health | Home & Design | People | Travel | Style | By Sports Network The Sports Network One day after his double-bogey finish left him a shot off the first-round lead, Tiger
Rep. Dennis Kucinich
USA Today - Before, it was always mom and pop vendors outside the campaigns that were trying to make money,” stated Kent Cooper, a campaign finance expert and former Federal Election Commission official. “It’s only been in the last five years that we have seen
Asian Currencies: Peso Climbs on Remittances; Korean Won Falls
Bloomberg - Gains in the currency were tempered after Finance Secretary Gary Teves on Dec. 13 said the government will probably raise sales of local-currency debt next year to help slow the advance in the peso that has affected the income of exporters and
Personal Finance in Asia
Financial Times - Inside this issue • Finding the right manager is far from simple • Asia Pacific is home to a quarter of the world’s 9.6m millionaires, and a fifth of those are Chinese • The very wealthy are more concerned with keeping their wealth than making
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