Archive for November, 2009
China reaffirms it wants stable, balanced yuan (Reuters)
BEIJING (Reuters) –
Premier Wen Jiabao on Sunday restated China's long-standing position that the yuan's exchange rate should be kept at a reasonable, balanced level.
State television showed Wen meeting a trio of top economic officials from the euro zone, who were making the case for a strengthening of the Chinese currency.
Wen also said China wanted to [...]
29Nov2009 | it-y | 0 comments | Continued
Administration plans new efforts on foreclosures (AP)
WASHINGTON – The Obama administration, battling a foreclosure crisis that shows no signs of relenting, will step up pressure on mortgage companies to do more to help people remain in their homes, officials said Saturday.
The administration will announce its expanded program on Monday, Treasury spokeswoman Meg Reilly said.
“We are taking additional steps to enhance servicer [...]
Dubai World refused distress-asset sale: report (Reuters)
DUBAI (Reuters) –
Dubai World has refused to offload assets at fire-sale prices to repay obligations, forcing it to seek a debt standstill, a newspaper report on Sunday quoted an unnamed source at the government-controlled firm as saying.
Stocks from Tokyo to New York have been haunted by concern that banks were exposed to state companies in [...]
29Nov2009 | it-y | 0 comments | Continued
Euro zone sees no default spillover from Dubai woes (Reuters)
NANJING, China (Reuters) –
The euro zone does not risk the sort of debt problems plaguing Dubai, senior European Union officials said on Sunday.
Dubai was forced to seek a debt standstill last week, rocking global markets and reviving concerns about the fiscal health of some euro zone members, notably Greece.
Luxembourg Prime Minister Jean-Claude Juncker, who chairs [...]
29Nov2009 | it-y | 0 comments | Continued
Treasury wants more lender leeway on loans (Reuters)
WASHINGTON (Reuters) –
The Treasury Department wants lenders and companies that process monthly mortgage payments to do more to rework troubled home mortgage loans and will announce new measures on Monday aimed at achieving that goal, a department spokeswoman said on Saturday.
The New York Times in its Sunday edition quoted Michael Barr, the Treasury Department's assistant [...]
29Nov2009 | it-y | 0 comments | Continued