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Archive for November 20th, 2007Losses worsen at US mortgage giant Freddie MacPosted by UK Economy News
In UK financial news
20Nov 07 Freddie Mac, one of the biggest players in the troubled US mortgage sector, revealed worse-than-expected losses of 2.0 billion dollars Tuesday and warned it will "take time" for market prospects to recover.
Read full story IMF, World Bank chiefs urge last push for WTO dealPosted by UK Economy News
In UK financial news
20Nov 07 Negotiations at the WTO on liberalising global markets have a "good chance" for success next year, International Monetary Fund Director Dominique Strauss-Kahn said Tuesday in Geneva.
Read full story Comments Off US private equity firm lodges bid for Northern Rock: sourcePosted by UK Economy News
In UK financial news
20Nov 07 US private equity group JC Flowers has submitted a takeover bid for stricken British home loan provider Northern Rock, a source close to the matter said.
Read full story Comments Off Oil rises above $95Posted by UK Economy News
In UK financial news
20Nov 07 Oil rebounded from early lows to trade above $95 a barrel on Tuesday, boosted by recovering stock markets after talk of another cut in U.S. interest rates to help economies navigate the credit crisis.
Read full story Comments Off US housing starts reboundPosted by UK Economy News
In UK financial news
20Nov 07 US housing starts rebounded 3.0 percent in October after falling sharply in the prior month, a government survey revealed Tuesday in a rare bit of positive news for the struggling sector.
Read full story Comments Off Dollar slumps to fresh euro lowPosted by UK Economy News
In UK financial news
20Nov 07 The dollar plunged to another historic low point against the euro Tuesday, as the greenback was plagued by concerns over the US economy amid a global credit squeeze.
Read full story Comments Off Freddie Mac’s third quarter loss widensPosted by UK Economy News
In UK financial news
20Nov 07 Freddie Mac , the second-largest U.S. mortgage finance company, on Tuesday posted a wider third quarter loss, hurt by a weak housing market and increased foreclosures.
Read full story Comments Off Euro hits 1.48 dollars for first timePosted by UK Economy News
In UK financial news
20Nov 07 The European single currency hit a record high 1.4806 dollars in trading here on Tuesday.
Read full story Comments Off Oil prices close in on 96 dollarsPosted by UK Economy News
In UK financial news
20Nov 07 World oil prices rose strongly Tuesday, nearing 96 dollars a barrel on lingering supply concerns and as the US unit tumbled against major rivals.
Read full story Comments Off Malaysia’s Proton and VW say tie-up talks shelvedPosted by UK Economy News
In UK financial news
20Nov 07 Malaysia's government and Volkswagen said Tuesday they had shelved long-running talks about an alliance between the German firm and the Asian nation's car maker Proton.
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