n its March 11 editorial, “Rethinking state bond ratings,” The Times editorial board suggested that because state and local governments default on their obligations less often than corporations do, all bonds issued by governmental entities should automatically receive high ratings from credit rating agencies such as Standard & Poor’s (S&P). Several officials made the same [...]
“We’ll look to restructure mortgages, and as soon as the loans are reperforming, and if there’s the capability and the market liquidity, we’ll look to sell,” Kurland told The Associated Press. “Other properties that may take longer, we’re prepared to hold five to seven years.”Backed by prominent investment management firms BlackRock Inc. and Highfields Capital [...]
(Recasts; adds details throughout)
By Aiko Hayashi
TOKYO, March 19 (Reuters) - Japan’s Nikkei share average rose
2.5 percent on Wednesday as investors snapped up exporters such
as Toyota Motor Corp (7203.T: Quote, Profile, Research) after a big interest rate cut in
the U.S. helped ease concerns over demand in a key market [...]
(Adds stocks, comment, details)
By Aiko Hayashi
TOKYO, March 19 (Reuters) - Japanese stocks rose more than 2
percent on Wednesday, with exporters such as Toyota Motor Corp
(7203.T: Quote, Profile, Research) getting a boost from a somewhat weaker yen, though
lingering worries about the health of the global financial system
kept a lid [...]
BOSTON (Reuters) - Massachusetts’ top securities regulator said on Friday that his office was demanding information from three large investment houses as he deepens a probe into the $330 billion auction-rate securities market.
William Galvin, the state’s secretary of the Commonwealth, issued subpoenas to UBS Securities (UBSN.VX: Quote, Profile, Research), Merrill Lynch [...]
LONDON, March 28 (Reuters) - Britain’s FTSE 100 index .FTSE is seen
opening 7-28 points lower on Friday, according to financial bookmakers, having
closed up 57.1 points, or 1 percent at 5,717.5 in the previous session.
The UK’s blue-chip index looks set to open the week’s final session a little
softer, traders said, [...]
(Releads with futures, adds more company items, analyst comment)
LONDON, March 28 (Reuters) - European stock index futures pointed to a
slightly lower open on Friday as fears about bank losses persisted, with
investors seeking clues to the future of U.S. interest rates from a key
inflation indicator later in the session.
Futures [...]
(Updates to midday, changes byline)
By Cal Mankowski
NEW YORK, March 28 (Reuters) - U.S. stocks edged higher on
Friday, after a key inflation gauge showed only a small
increase in prices, offsetting a weak retail sector that was
hurt by a profit warning from a major store chain.
Department store operator [...]
LOS ANGELES (AP) — Stanford Kurland spent nearly three decades helping build Countrywide Financial Corp. into the nation’s largest mortgage lender.Now, the former president of the troubled company and several key colleagues hope to cash in as the housing market collapses.Kurland, 55, will serve as chairman and chief executive officer of a new company [...]
BOSTON (AP) — Harvard University has turned to a manager with a track record of success directing the assets of educational institutions, including Harvard itself, to oversee its nearly $35 billion endowment.Jane Mendillo on Thursday was named the new president and chief executive officer of Harvard Management Co., the university’s wholly owned and quasi-independent investment [...]
