Mortgage and Financial News From 2008-7-4 Page 6
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S&P cuts Triad Guaranty Insurance to junk status - CNBC
NEW YORK - Standard & Poor's Ratings Services on Thursday cut the counterparty credit and financial strength ratings on Triad Guaranty Insurance Corp. four notches to junk status on concerns about the mortgage insurer's capital adequacy. S&P ...
2008-07-03 09:36:00 -
London shares close lower as banks and insurers fall (AFP via Yahoo! News)
UK blue chips closed lower as financials suffered following more worrying rights-issue news from Bradford & Bingley, while hopes faded of M&A activity in the insurance sector.
2008-07-04 09:49:18 -
Advertisement starts (Tiscali)
were down between 2.1 and 4.5 percent. "With the U.S. on holiday, the markets have taken their lead from ... a particularly bearish note from Goldman Sachs regarding banking stocks," said Ryan Kneale, an analyst at BetsForTraders.com.
2008-07-04 10:20:51 -
Bradford & Bingley Investors on the Hook as TPG Walks (Update1) (Bloomberg.com)
July 4 (Bloomberg) -- Bradford & Bingley Plc 's largest shareholders agreed to lead a bailout of the U.K. mortgage lender after TPG Inc. abandoned plans to buy a 23 percent stake.
2008-07-04 10:36:40 -
Group of Eight summit begins, Monday (The Globe and Mail)
Description is not available
2008-07-04 11:04:27 -
Corporate types jump ship (The Arizona Republic)
Entrepreneurs with impressive backgrounds are running mom-and-pop businesses in Chandler.
2008-07-04 11:32:28 -
Bookreporter.com Beach Bag of Books -- SISTER MINE By Tawni O'Dell (Book Reporter)
Shae-Lynn Penrose drives a cab in a town where no one needs a cab --- but plenty of people need rides.
2008-07-04 12:06:52 -
Inflated Income on Loan Application Could Be an Honest Mistake -- or Fraud (Washington Post)
Q I bought a condominium in January 2006 for $215,000. Just the other day, I was going over some papers, including my mortgage application, and noticed that my salary was shown as about $3,900 a month.
2008-07-04 01:09:51 -
UPDATE 1-UK bank B&B to detail rights allocation - source - Reuters
LONDON, July 4 (Reuters) - British bank Bradford & Bingley (BB.L: Quote , Profile , Research , Stock Buzz ) will announce later on Friday the allocation breakdown for the rights issue previously underwritten by U.S. private equity firm TPG Capital, a ...
2008-07-04 02:11:00 -
Shareholders step in to rescue B&B - MSN UK News
Bradford & Bingley has said its major shareholders are stepping in to salvage the lender's £400m funding plan. US private equity firm, Texas Pacific Group, was due to buy 23 per cent of the company as part of a wider funding package, but said on ...
2008-07-04 02:33:00 -
St George lifts mortgage rate by 20 basis points - News.com.au
ST GEORGE Bank has hiked its variable home loan rate by 20 basis points, despite the Reserve's recent decision to preserve the status quo. Australia's fifth largest bank attributed the rise to 9.67 per cent to the continuing high cost of funds it ...
2008-07-03 11:05:00 -
Mortgages: Bank of England warns credit squeeze will tighten - Guardian Unlimited
Britain's consumers and businesses are gripped by an ever-tightening credit crunch as banks withdraw mortgage packages and tighten lending conditions, the Bank of England warned yesterday. In a gloomy report that led analysts to believe that ...
2008-07-04 12:53:00 -
TPG pulls out of Bradford & Bingley plan - Newsday
LONDON - Bradford & Bingley PLC said Friday it is revising its plans to raise new capital after U.S. private equity fund Texas Pacific Group pulled out of an agreement to invest more than $350 million in the British mortgage lender. TPG withdrew ...
2008-07-04 10:54:00 -
BCE, Ontario Teachers' Reach Final Agreement on Sale (Update3) (Bloomberg.com)
July 4 (Bloomberg) -- BCE Inc ., Canada's biggest phone company, signed a final agreement with a group led by the Ontario Teachers' Pension Plan to complete the world's largest leveraged buyout after agreeing to scrap its quarterly dividend. The stock had its biggest gain in more than six years.
2008-07-04 09:12:02 -
B&B ups rights issue size (Reuters via Yahoo! UK & Ireland News)
Bradford & Bingley on Friday increased its rights issue to 400 million pounds after U.S. investor TPG Capital pulled out of buying a stake as concern deepened about the bank's business plan.
2008-07-04 10:50:00