Business
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
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
Geely taps China banks to back $1.8 billion Volvo deal (Reuters)
HONG KONG (Reuters) –
Geely, the Chinese carmaker picked as the preferred bidder for Ford Motor's (F.N) Volvo unit, is seeking at least $1 billion in loans from Chinese banks to finance its $1.8 billion bid, sources said on Tuesday.
Home-grown Geely, which means "lucky" in Chinese, is hungry for modern and innovative technologies from the Swedish [...]
1Dec2009 | it-y | 0 comments | Continued
Wall St set for higher open; ISM data awaited (Reuters)
(Reuters) –
U.S. stock index futures pointed to a higher open for equities, with investors waiting for a slew of economic data, including U.S. ISM figures for November and pending home sales numbers.
Futures for the S&P 500, Dow Jones industrial average and the Nasdaq 100 were up 0.8 to 0.9 percent.
European shares rose on Tuesday, bouncing [...]
1Dec2009 | it-y | 0 comments | Continued
Vivendi shares rise on hopes NBCU stake sale near (Reuters)
Reuters – Vivendi shares rose on Tuesday as hopes mounted that Europe’s largest entertainment group was close to selling its stake in U.S. media group NBCU and getting cash to fund its growth plans.
(full text retrieval failed)