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July 22, 2008 |
Darling Says Global Credit Crunch `More Profound' Than Expected
Bloomberg
Chancellor of the Exchequer Alistair Darling said fallout from a global credit crunch is proving worse than previously expected, a sign that U.K. policy makers are bracing for slower growth. |
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July 22, 2008 |
GM, Ford `On the Verge of Bankruptcy,' Altman Says
Bloomberg
General Motors Corp. and Ford Motor Co., the two biggest U.S. automakers, have about a 46 percent chance of default within five years, according to Edward Altman, a finance professor at New York University's Stern School of Business. |
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July 22, 2008 |
Like Fed: Bank of England power grab unvelied
Bloomberg
Bank of England Governor Mervyn King said he wanted the central bank to have more authority in decisions on when to rescue a troubled lender, in legislation proposed to fix Britain's financial stability rules. |
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July 21, 2008 |
Overseas investors take hard look at U.S. mortgage giants
Int'l Herald Tribune
For more than a decade, Fannie Mae and Freddie Mac, the housing giants that make the American mortgage market run, have attracted overseas investors with a simple pitch: The securities they issue are just as good as the U.S. government's - and they usually pay better. |
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July 21, 2008 |
The global economy is at the point of maximum danger
Int'l Herald Tribune
t feels like the summer of 1931. The world's two biggest financial institutions have had a heart attack. The global currency system is breaking down. The policy doctrines that got us into this mess are bankrupt. No world leader seems able to discern the problem, let alone forge a solution. |
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July 20, 2008 |
Paulson braces public for months of tough times
CNNMoney
Treasury Secretary Henry Paulson sought to reassure an anxious public Sunday that the banking system is sound, while also bracing people for more troubled times ahead.
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July 18, 2008 |
Oil prices tumble in biggest weekly drop ever
Breitbnart.com
A stunning sell-off dragged oil prices to their biggest weekly drop ever and gas prices at the pump slipped by the more than they have at any point since February, giving consumers a rare breather in a year of record fuel prices. |
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July 18, 2008 |
Corn loses 11% in week, erasing June gains
MarketWatch
Corn futures for December delivery fell 21 cents, or 3.2%, to end at $6.29 a bushel on the Chicago Board of Trade, the lowest since May 30, when heavy rains started inundating cornfields in the Midwest. Futures have dropped 11.4% this week. |
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July 17, 2008 |
The next big wave is breaking
Asia Times
the financial tsunami that began in August 2007 in the relatively small "subprime" high-risk mortgage securitization market, far from being over, is only gathering momentum. |
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July 17, 2008 |
Qatar becomes Barclays’ biggest shareholder
Financial Times
The Qatar Investment Authority has become Barclays’ largest investor after less than a fifth of the bank’s existing shareholders participated in its £4.5bn capital-raising issue. |
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