Archive for it-y
November sales to shed light on holiday season start (Reuters)
SAN FRANCISCO (Reuters) –
When U.S. retail chains report November sales this week, investors will learn whether they have gone far enough to protect profits against a weak start to the holiday shopping season.
Early data on weekend shopping from U.S. Thanksgiving Day on Thursday through Sunday showed a slight increase in retail sales, pressuring shares from [...]
1Dec2009 | it-y | 0 comments | Continued
Treasury sets guidance to simplify "short sales" (Reuters)
NEW YORK (Reuters) –
The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures.
The Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures for completing short sales, a growing practice in [...]
1Dec2009 | it-y | 0 comments | Continued
SEC watchdog eyes insider trading probe (Reuters)
WASHINGTON (Reuters) –
The internal watchdog for the U.S. Securities and Exchange Commission is probing whether enforcement staff "committed acts of negligence" in conducting an insider trading investigation.
Inspector General David Kotz's office said it is looking at a complaint that SEC staff had access to specific evidence that insider trading had occurred prior to staff closing [...]
1Dec2009 | it-y | 0 comments | Continued
Gov't increases pressure on mortgage industry (AP)
WASHINGTON – Faced with sluggish progress in its foreclosure-prevention effort, the Obama administration will spend the coming weeks cracking down on mortgage companies that aren’t doing enough to help borrowers at risk of losing their homes.
Treasury Department officials said Monday they will step up pressure on the 71 companies participating in the government’s $75 billion [...]
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