AP - Two more months of mortgage payments and retiree Allan Goldstein says he’ll be broke, just another victim in what may be the biggest Ponzi scheme in history.
AP - House prices in Britain fell by their biggest annual amount in at least 56 years during 2008, as credit seized up and possible buyers stayed out of the market, a leading mortgage lender said Tuesday.
AFP - Global stock markets held onto New Year optimism Tuesday even as the euro suffered fresh losses amid signs of Europe’s deepening recession and a looming energy standoff with Russia drove up oil prices.
Reuters - Stocks opened higher on Tuesday as rising oil prices boosted energy shares and investors awaited factory and services data for a fresh snapshot of the recession-hit economy.
AP - House prices in Britain fell by their biggest annual amount in at least 56 years during 2008, as credit seized up and possible buyers stayed out of the market, a leading mortgage lender said Tuesday.
Reuters - Dow Chemical Co said on Tuesday that it would pursue legal and other options to fulfill rights under its agreement with Petrochemical Industries Co of Kuwait.
Reuters - Toyota Motor Corp (7203.T) is to halt production at its Japanese plants for 11 days in February and March as a sharp slide in U.S. sales has left dealers’ lots full of unsold cars.
Reuters - Asian stocks inched higher for a seventh day on Tuesday on hopes for a global economic recovery later in 2009, but the yen’s gains against high-yielding currencies suggested scope for optimism was limited.
Reuters - Bob McCann, head of brokerage at Merrill Lynch & Co, announced his plans to leave the securities firm, just days after its acquisition by Bank of America was completed.
Reuters - Asian stocks edged up for a seventh day on Tuesday, boosted by hopes for a global economic recovery later in 2009, though the rising yen and falling high-yielding currencies suggested such optimism was limited.
Reuters - U.S. prosecutors asked a judge to jail accused swindler Bernard Madoff on Monday, saying he sent jewelry and other items worth more than $1 million to family and friends in violation of his bail.
Reuters - U.S. auto sales plunged by 36 percent in December led by outsized declines at Chrysler LLC, Hyundai Motor (005380.KS) and Toyota Motor Corp(7203.T) as the battered industry closed out its weakest year since 1992 in its largest single market.
Reuters - Legislation designed to stem foreclosures by allowing bankruptcy judges to erase some mortgage debt will be introduced by Congressional Democrats on Tuesday, and hopes are high that it will pass after a similar plan failed last year.
Reuters - The Federal Reserve on Monday kick-started its latest unconventional program to boost the moribund economy, this time taking aim at the heart of the slumping housing market.
Reuters - General Electric Co’s finance arm on Monday launched a $10 billion sale of FDIC-backed debt, the largest sale under the government guarantee program since its inception last November.