us housing market

US fixed mortgage rates back to record lows


September 21st, 2012 - 1:31 pm ICT by IANS
Washington, Sep 21 (IANS) US fixed mortgage rates this week fell back to record lows after the Federal Reserve announced last week a new round of quantitative easing, also known ... Read more...

Posted in Business |

US mortgage applications down despite record low rates


April 26th, 2012 - 1:43 pm ICT by IANS
Washington, April 26 (IANS) US mortgage applications decreased last week despite an all-time low in mortgage rates, according to the latest Weekly Mortgage Applications Survey released Wednesday by the US ... Read more...

Posted in Business |

US stocks open slightly higher


March 21st, 2012 - 11:38 pm ICT by IANS
New York, March 21 (IANS) US stocks opened slightly higher Wednesday as mixed reports showed that the American housing market is improving.The Mortgage Bankers Association said its seasonally adjusted index ... Read more...

Posted in Business |

US stocks flat as Europe debt fears linger (Lead)


February 28th, 2012 - 7:58 am ICT by IANS
New York, Feb 28 (IANS) US stocks ended flat Monday as positive US housing sales data offset the lingering European debt concerns, Xinhua reported.The Dow Jones industrial average was trading ... Read more...

Posted in Business |

US housing market surges sharply in November


December 21st, 2011 - 1:34 pm ICT by IANS
Washington, Dec 21 (IANS) A sharp surge in the US housing market in November brought some relief to the country's turbulent economy.The Department of Commerce said Tuesday that ground has ... Read more...

Posted in Business |

Rise in US new home sales


October 27th, 2011 - 12:30 pm ICT by IANS
Washington, Oct 27 (IANS/EFE) Sales of new homes rose 5.7 percent last month to an annualised rate of 313,000 units, the US Commerce Department said Wednesday.The increase, which followed four ... Read more...

Posted in Uncategorized |

Citigroup to pay $285 mn to settle fraud charges


October 20th, 2011 - 3:23 am ICT by IANS
Washington, Oct 20 (IANS) Citigroup has agreed to pay $285 million to settle charges for misleading investors about a $1 billion collateralized debt obligation (CDO), the US Securities and Exchange ... Read more...

Posted in Business |

Pandit’s Citi reports $3.8 bn profit


October 18th, 2011 - 11:20 am ICT by IANS
Washington, Oct 18 (IANS) As Citigroup announced a better-than-expected third-quarter profit of $3.8 billion, its Indian-American chief Executive Vikram Pandit emphasised the banking giant's position in emerging markets as a ... Read more...

Posted in Business |

US sues financial firms over mortgage losses


September 3rd, 2011 - 12:44 pm ICT by IANS
Washington, Sep 3 (IANS) A US federal agency has filed lawsuits against 17 financial institutions, including Indian-American CEO Vikram Pandit-led Citigroup, in an attempt to recover billions of dollars in ... Read more...

Posted in Business |

Mortgage rates hit a low of 4.15%


August 23rd, 2011 - 12:50 am ICT by Aishwarya Bhatt
Washington, Aug 22 (THAINDIAN NEWS) US 30 year mortgage rate reached its lowest level last week at 4.15 percent. This is the lowest level of US mortgage rate since 1971. In the ... Read more...

Posted in Business |

Civil Fraud Charges Filed: Goldman Sachs and Fabrice Tourre


April 17th, 2010 - 2:26 am ICT by Angela Kaye Mason
Apr 16 (THAINDIAN NEWS) The SEC (Securities and Exchange Commission of the United States) filed a civil fraud complaint against Goldman Sachs of Sachs & Co. and one of it's vice presidents, ... Read more...

Posted in Business |

Goldman Sachs charged with fraud by US regulators


April 17th, 2010 - 12:45 am ICT by IANS
Washington, April 16 (DPA) A US financial regulator charged Goldman Sachs Friday with defrauding investors in the run-up to the 2008 financial crisis that derailed the global economy, the first civil charges ... Read more...

Posted in Business |

Dubai World crisis alarms analysts in China


December 3rd, 2009 - 4:27 pm ICT by IANS
Beijing, Dec 3 (IANS) A Chinese analyst has warned that as the country's "real estate bubble continues to grow in size, a crisis similar to that at Dubai World is likely to ... Read more...

Posted in Business |

OPEC oil price rises above $65


July 22nd, 2009 - 4:39 pm ICT by IANS
Vienna, July 22 (DPA) The price of oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) rose for the sixth straight day and passed the $65-mark Tuesday, the Vienna-based group ... Read more...

Posted in Business |

White House proposes crackdown on credit-rating agencies


July 22nd, 2009 - 11:40 am ICT by IANS
Washington, July 22 (DPA) US President Barack Obama has proposed a crackdown on credit-rating agencies, among the key players blamed in a financial crisis that has devastated the global economy. The proposed ... Read more...

Posted in Business |

Citigroup, Bank of America surprise with profit (Lead)


July 18th, 2009 - 12:39 am ICT by IANS
New York, July 17 (DPA) Citigroup and Bank of America Friday reported billions of dollars in second-quarter profits, matching a flow of positive earnings from other US banks this week despite being ... Read more...

Posted in Business |

US Congress takes aim at Obama’s financial overhaul


June 18th, 2009 - 11:43 pm ICT by IANS
Washington, June 18 (DPA) US legislators launched the first salvos Thursday in a looming battle to overhaul the country's regulation of the financial industry after one of its worst ever crises. Senators ... Read more...

Posted in Business |

Global recovery is set to begin, says bank report


June 16th, 2009 - 9:33 am ICT by IANS
By Gurmukh Singh Toronto, June 16 (IANS) The worst is over for the global economy and a recovery is likely to begin later this year, says a bank report released here Monday.The global ... Read more...

Posted in World |

UBS to cut 8,700 jobs after announcing more losses


April 15th, 2009 - 3:23 pm ICT by IANS
Zurich, April 15 (DPA) The Swiss banking giant UBS Wednesday said it will take a first quarter loss of almost 2 billion Swiss francs ($1.7 billion) and will cut 8,700 jobs worldwide ... Read more...

Posted in World |

Signs that US may be headed slowly toward recovery


April 15th, 2009 - 12:06 pm ICT by IANS
Washington, April 15 (DPA) More than a year into one of the longest and deepest US recessions in living memory, there are signs that the world's largest economy may finally be ... Read more...

Posted in Business |

Economic rebound to come from US housing market: IMF head


April 6th, 2009 - 5:27 pm ICT by IANS
Paris, April 6 (DPA) The world will begin to emerge from the economic crisis in the first quarter of 2010, and the recovery will start in the US housing market, the head ... Read more...

Posted in World |

World economy set to contract, upturn next year: IMF


March 20th, 2009 - 12:40 am ICT by IANS
By Arun Kumar Washington, March 19 (IANS) Despite major stimulus packages announced by advanced economies and several emerging markets, including India, the world economy is set to contract for the first time in ... Read more...

Posted in Business |

Fed buys $1 trillion of Treasury, mortgage assets


March 19th, 2009 - 4:47 am ICT by IANS
Washington, March 19 (DPA) The US Federal Reserve, in a drastic new effort to keep the US financial sector afloat, said Wednesday it would buy up more than $1 trillion in ... Read more...

Posted in Business |

Dow falls below 7,000 after AIG’s massive loss (Lead)


March 3rd, 2009 - 7:20 am ICT by IANS
New York, March 3 (DPA) The Dow Jones Industrial Average Monday fell below 7,000 points for the first time since 1997, following stock sell-offs across the globe after American International Group Inc ... Read more...

Posted in Business |

Dow falls below 7,000 after AIG’s massive loss


March 3rd, 2009 - 2:29 am ICT by IANS
New York, March 2 (DPA) The Dow Jones Industrial Average fell below 7,000 points for the first time since 1997 in early trading on Wall Street Monday, following stock sell-offs across the ... Read more...

Posted in Uncategorized |

US stocks fall after Citigroup deal


February 28th, 2009 - 7:29 am ICT by IANS
New York, Feb 28 (DPA) US stocks plunged Friday as the government took a bigger stake in Citigroup Inc and figures showed the economy shrank at a far greater pace than expected. The ... Read more...

Posted in Uncategorized |

Obama caps executive salaries of firms seeking federal aid


February 5th, 2009 - 4:55 am ICT by IANS
Washington, Feb 5 (DPA) US President Barack Obama Wednesday announced tough restrictions on the salaries of Wall Street executives seeking government aid and slammed financial firms for shirking their responsibilities as the ... Read more...

Posted in Uncategorized |

How many will Americans to be laid-off or go jobless? Facing another Great Depression?


January 30th, 2009 - 12:06 pm ICT by Amrit Rashmisrisethi
In the United States, the joblessness set up a new record at the peak in mid-January, while new orders for durable goods fell for a fifth straight month in December, data showed ... Read more...

Posted in Business |

World suffers worst downturn in post-war period: IMF


January 28th, 2009 - 11:54 pm ICT by IANS
Washington, Jan 28 (DPA) The world economy will grow by only 0.5 percent in 2009, the worst rate since end of World War II, as industrial nations battle a severe recession that ... Read more...

Posted in World |

US Treasury places new restrictions on financial rescue plan


January 28th, 2009 - 5:21 am ICT by IANS
Washington, Jan 28 (DPA) The US Treasury Department Tuesday unveiled new rules that will govern its efforts to stabilise the crumbling US financial sector, including clamping down on lobbyists' influence and prioritising ... Read more...

Posted in Uncategorized |

Gregarious Bush reserves very business-like greeting for Rudd


November 15th, 2008 - 4:39 pm ICT by ANI
Melbourne, Nov 15 (ANI): US President George W Bush greeted world leaders with big smiles and pats on the back, but Australian Prime Minister Kevin Rudd had to make do with ... Read more...

Posted in South Asia |

US takes steps to ease mortgage crisis


November 12th, 2008 - 8:39 am ICT by IANS
Washington, Nov 12 (DPA) The US Tuesday announced new measures to ease the mortgage market crisis that has threatened the wider US and global economy, offering a streamlined approach to help struggling ... Read more...

Posted in World |

US stocks fall sharply on ongoing recession fears


October 25th, 2008 - 5:39 am ICT by IANS
Washington, Oct 25 (DPA) US stock indices posted steep drops Friday, plunging more than 3.5 percent to end another week of uncertainty over the state of the global economy.The sell-off in New ... Read more...

Posted in Uncategorized |

‘US sub-prime crisis, downturn to hit global realty sector’


September 20th, 2008 - 7:06 pm ICT by IANS
Panaji, Sep 20 (IANS) Global financial turmoil, triggered by the US sub-prime crisis, will have a far-reaching impact on the worldwide realty sector in 2009 due to investments drying up and cost ... Read more...

Posted in Business |

Singapore investors fear recession to spread


April 21st, 2008 - 2:47 pm ICT by admin
DPA Singapore, April 21 (DPA) The spread of the financial contagion beyond the United States has increased the likelihood of a global financial crisis and recession, an investment expert said Monday. "We could ... Read more...

Posted in Business |

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