Mortgage and Financial News From 2008-2-14 Page 51

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  • Swiss Stocks Gain, Led by Clariant, Zurich Financial; UBS Falls

    Bloomberg - Feb. 14 (Bloomberg) -- Swiss stocks climbed, led by Clariant AG after the world's second-largest specialty chemicals maker ... based bank posted a loss last quarter after $13.7 billion in writedowns on securities infected by U.S. subprime mortgages. The ...
    2008-02-14 05:46:00

  • UBS shocks investors with new risky debt exposures

    Guardian Unlimited - Deutsche Bank estimated that UBS's total exposure to risky U.S. mortgages was $68.7 billion. "They are in a sorry predicament ... Rumours that Singapore was having second thoughts about the convertible issue have swirled in recent days and analysts say ...
    2008-02-14 07:26:00

  • UBS reveals new U.S. loans exposure

    Washington Post - ... the newly unveiled exposure, announced together with full-year and fourth-quarter results, was to so-called Alt-A mortgages ... injection, were still committed to a mandatory convertible note, contrary to rumors that Singapore was having second ...
    2008-02-14 07:55:00

  • Commerzbank Profit Falls 44% on Subprime Writedowns (Update5)

    Bloomberg - Feb. 14 (Bloomberg) -- Commerzbank AG, Germany's second- largest bank, said fourth-quarter profit fell 44 percent on ... Commerzbank invested about 1.2 billion euros in subprime mortgages and had asset-backed securities totaling 19.9 billion euros ...
    2008-02-14 08:45:00

  • UBS shocks investors with risky debt exposures

    Reuters - ZURICH (Reuters) - Swiss bank UBS shocked markets with tens of billions of dollars in new exposure to risky U.S. mortgages ... UBS stock has lost more than half its value since last June after it took $18.1 billion of writedowns in the second half of ...
    2008-02-14 08:09:00

  • Stocks in Europe, Asia, U.S. Futures Rise; Mizuho, Danone Gain

    Bloomberg - UBS AG tumbled more than 5 percent on concern Europe's largest bank by assets may have more losses after posting $13.7 billion in writedowns related to subprime mortgages. Renault SA retreated after France's second-largest carmaker said it would ...
    2008-02-14 05:32:00

  • UPDATE 1-PKO Q4 net profit up 50% on mortgages, retail ops

    Reuters - WARSAW, Feb 14 (Reuters) - Poland's second-largest bank PKO BP PKOB.WA reported a better-than-expected 50 percent rise in fourth-quarter earnings on Thursday, thanks to its expanding mortgage business and retail operations. State-controlled PKO ...
    2008-02-13 11:55:00

  • STATE INTERVENES TO PREVENT SUBPRIME DEATH

    Der Spiegel - The bank got into trouble after its Rhineland Funding investment vehicle was unable to meet its funding needs due to its exposure to US subprime mortgages. The move is the second cash injection for IKB, which was saved from collapse (more...) last ...
    2008-02-14 08:23:00

  • Doubts on MFS sale

    News.com.au - The company's 2007 annual return showed that operating activities bled $47 million in cash from City Pacific last year. It also showed $100 million in exposure to risky second mortgages. City Pacific spokesman Mike London declined to comment on the ...
    2008-02-14 06:00:00

  • PKO posts record profit on mortgages, shares up

    Guardian Unlimited - WARSAW, Feb 14 (Reuters) - Poland's second-largest bank PKO BP posted record quarterly and full-year earnings on Thursday as it continued to benefit from the booming demand for mortgages and consumer credit, boosting its shares. PKO shares gained as ...
    2008-02-14 02:54:00

  • Canadian Trade Surplus Falls To Nine-Year Low In December [] - RTT News

    Canadian Trade Surplus Falls To Nine-Year Low In December []RTT News, NY - 1 hour ago“According to updated statistics, in the second half of 2007 the industry assisted 869000 homeowners, including 545000 subprime borrowers who received loan ...
    2008-02-14 07:20:44

  • Mortgage rates little changed - CNNMoney.com

    Mortgage rates little changedCNNMoney.com - 1 hour agoHowever, pending existing home sales fell for the second month in December, indicating further weakness in home sales for January and February," Nothaft ...
    2008-02-14 07:23:51

  • Manulife Financial Corporation reports record annual and quarterly ... - Canada NewsWire (press release)

    Manulife Financial Corporation reports record annual and quarterly ...Canada NewsWire (press release), Canada - 1 hour agoIn the fourth quarter, IWM launched the second generation of IncomePlus, now providing a lifetime guarantee, which drove the over 40 per cent increase in ...
    2008-02-14 07:31:41

  • Bernanke Says Economic Outlook Is Worse - Town Hall

    Bernanke Says Economic Outlook Is WorseTown Hall, DC - 1 hour agoBernanke also said that the "virtual shutdown" of the market for subprime mortgages _ given to people with blemished credit histories or low incomes _ and a ...
    2008-02-14 07:34:58

  • European Stocks Rise; Cap Gemini, Clariant, Diageo Advance - Bloomberg

    European Stocks Rise; Cap Gemini, Clariant, Diageo AdvanceBloomberg - 1 hour agoThe benchmark has dropped 19 percent from a 6 1/2-year high reached June 1 on concern losses related to US subprime mortgages will push the world's largest ...
    2008-02-14 07:38:51

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