Mortgage and Financial News From 2007-10-1 Page 13

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  • Crisis bites Swiss banks and Citigroup

    Reuters - ... unveiled $3.4 billion in losses, mainly on securities linked to the U.S. subprime mortgage sector, ousted senior managers and slashed jobs, while Credit ... news of UBS taking a 3.5 billion dollar hit will remind investors that not all the bad news ...
    2007-10-01 12:33:00

  • Monday's Personal Finance stories

    Marketwatch - Also, see why consumers still need to be wary even though the IRS is cracking down on unscrupulous credit-counseling ... Experts say it will be January before we know the full impact of the mortgage crisis on the rental market here. Stacey Delo ...
    2007-10-01 10:25:00

  • Dow Hits New Record

    BusinessWeek - ... in third-quarter profits from a year ago, due to dislocations in the mortgage-backed securities and credit markets, and deterioration in the consumer credit environment, was greeted with a sense of relief by the markets that at least most of the bad ...
    2007-10-01 11:15:00

  • Banks reveal US mortgage losses

    BBC Business - A number of big investment banks have admitted major losses caused by bad investments centred on the crisis-hit US sub-prime mortgage market. ... Citigroup revealed its sub-prime losses would total $1.3bn, as well as $2.6bn in extra credit ...
    2007-10-01 10:03:00

  • Euroshares close higher as Dow shrugs off Citigroup, UBS, Credit ...

    Forbes - ... gloom after a hat-trick of profit warnings from Citigroup , UBS and Credit Suisse gave way to hopes of a new US rate cut, and as dealers said they are confident the bad news ... Ten years to the day after it was demutualised, shares in the UK mortgage ...
    2007-10-01 10:03:00

  • Citigroup and UBS project poor earnings

    International Herald Tribune - ... it books losses on loans related to leveraged buyouts, weak fixed-income trading results and the deterioration of complex mortgage-backed securities that contained bad subprime loans. It also said its consumer business would be hurt by higher credit ...
    2007-10-01 11:50:00

  • UBS writes down $3.4 billion in assets as subprime mortgage crisis ...

    San Diego Union-Tribune - ... Swiss francs ($3.4 billion) because of losses linked to the U.S. subprime mortgage ... underscore the widespread impact of failed U.S. loans to people with weak credit ... This is clearly not good news and adds to the catalog of bad news that UBS has ...
    2007-10-01 12:12:00

  • Citigroup, UBS to Post Sharp Losses for Bad Loans

    NPR News - Citigroup, UBS to Post Sharp Losses for Bad Loans ... securities backed by subprime loans, and lose $600 million in fixed-income credit ... was the latest disappointment resulting from this year's problems in the mortgage ...
    2007-10-01 11:36:00

  • U.S. Stocks Gain, Sending Dow Average to Record; Lennar Rises

    Bloomberg - ... environment in the fourth quarter,'' Chief Executive Charles Prince said after the bank reported third- quarter profit fell 60 percent because of $5.9 billion of credit and trading losses on loans and mortgage-backed securities. 'The Bad ...
    2007-10-01 12:33:00

  • Bad credit? No problem (Ottawa Business Journal)

    "In sleep I had the dreadful dream of the ineluctable Wave, either coming out of the quiet sea, or coming in towering over the green inlands."
    2007-10-01 03:18:46

  • Credit Suisse Sees Quarterly Profit After UBS Warning (Update2) (Bloomberg.com)

    Oct. 1 (Bloomberg) -- Credit Suisse Group, Switzerland's second-largest bank, said it was profitable in the third quarter after a slump in credit markets caused UBS AG to predict a loss.
    2007-10-01 01:58:48

  • Japan's Stocks Fall on Renewed Credit Concern; Mizuho Drops (Bloomberg.com)

    Oct. 1 (Bloomberg) -- Japan's stocks fell, led by financial shares such as Mizuho Financial Group Inc., as reports showed more Americans are missing mortgage payments and UBS AG may post its first quarterly loss since 2002.
    2007-09-30 11:16:58

  • Fixing the ratings game (CNN Money)

    The country's leading ratings agencies - Moody's, Standard & Poor's and Fitch - are under attack these days for fueling the subprime mortgage meltdown with excessively high ratings on mortgage-backed bonds that turned out to be bad bets.
    2007-10-01 03:10:12

  • Credit Suisse Sees Quarterly Profit After UBS Warning (Update3) (Bloomberg.com)

    Oct. 1 (Bloomberg) -- Credit Suisse Group, Switzerland's second-largest bank, said profit fell in the third quarter after a slump in credit markets caused UBS AG to report an unexpected loss.
    2007-10-01 04:43:39

  • Citigroup, UBS to Post Sharp Losses for Bad Loans (NPR)

    Citigroup and UBS expect to report sharp declines in the third quarter stemming from huge investments in the credit market. Citigroup projects its third-quarter profits will drop 60 percent after $3 billion in losses. UBS sees a third-quarter loss of up to $690 million.
    2007-10-01 10:34:43

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