Like millions of American households, the Mortgage Bankers Association found itself stuck with real estate whose market value has plunged far below the amount it owed its lenders. But the trade group for mortgage lenders is refusing to say exactly how it extracted itself from that predicament. On Friday, CoStar Group Inc., a provider of [...]
Archive for February, 2010
Weekly Review and Outlook: Dollar and Yen Soared as Worry on Sovereign Risk Intensified
February 7th, 2010 
admin Dollar and Yen Soared as Worry on Sovereign Risk Intensified Markets were pretty steady last week until concern of Greece deficit contagion across Europe intensified on Thursday and rocked financial markets around the world. Credit-default swaps on the debt of Greece, Spain and Portugal rose to record highs today amid concern that European governments will [...]
Tax credit has added benefits for military home buyers and sellers
February 6th, 2010 admin WASHINGTON (MarketWatch) — Question: I’ve heard that there are some extra benefits for servicemen and women under the recently expanded home-buyer tax credits, but I have yet to see anything about them in print. Can you shed some light on this or am I getting some misinformation? Answer: You heard right. Uncle Sam has always [...]
Cielo may be losing market share to Redecard, prepayment segment anemic
February 6th, 2010 admin Brazilian card processor Cielo may be losing market share to rival Redecard and is still showing anemic growth from its prepayment receivables business, according to a report on its 4Q09 earnings from Raymond James (NYSE: RJF). Cielo had recurring net income of 442mn reais (US$235mn) in 4Q09 for a 77.5% increase from 4Q08, while Redecard, [...]
Posted in Business News 
Tags: card processor, Cielo, earnings, prepayment business, Redecard, transaction volumes 
No Comments »Balancing act: check prices, back growth
February 6th, 2010 admin CRR hike to support recovery process, says RBI. The third quarter review of monetary policy was about ensuring price stability. And, it was articulated clearly, as the Reserve Bank of India (RBI) said it was worried over rise in food prices affecting other commodities and services. While RBI’s policy action, an increase of 75 basis [...]
Forex kitty shrinks $1.9 b to $281 bn
February 6th, 2010 admin MUMBAI: Foreign exchange reserves dipped $1.9 billion to $280.9 billion during the week ended January 29, largely on account of revaluation of nondollar assets in the reserves basket. Of the total reserves, all components — foreign currency assets, gold, and SDR (special drawing rights) — fell $1.7 billion, $236 million, $23 million and $6 million, [...]
Posted in Forex Trading Tags: Central banks, currency composition, foreign exchange, global currencies, nondollar, WMA account No Comments »Five Smart Things to do Before New Credit Card Law Takes Effect
February 6th, 2010 admin With new regulations starting in less than a month, you may need to take stock of your credit card portfolio to determine which cards’ terms are changing to your benefit and which feature changes that can hit you in the wallet. The most important thing to do, says Lauren Bowne, staff attorney at San Francisco-based [...]
U.S., Canada Set Deal on ‘Buy American’
February 6th, 2010 admin WASHINGTON—The U.S. and Canada, its largest trading partner, reached a preliminary deal to settle what had become an acrimonious dispute over “Buy American” provisions in the U.S. stimulus package. The deal, if approved, will give companies on both sides of the border access to government procurement contracts at the state and local levels. U.S. Trade [...]
G7 sticks to previous forex language-Juncker
February 6th, 2010 admin IQALUIT, Canada, Feb 6 (Reuters) – Finance ministers from the G7 group of industrialized nations are sticking to comments on foreign exchange levels that they made last October, the chairman of the Eurogroup countries said on Saturday. “We have agreed that there is no reason to change what we said recently. We stick to what [...]
Posted in Forex Trading Tags: foreign exchange, forex language, G7, global economy, greater currency flexibility No Comments »
GO Markets – FX Market Commentary
Global equities were pummelled overnight as fears of sovereign debt woes in Europe coupled with disappointing weekly jobless claims had investors on edge ahead of tonight’s nonfarm payroll data. US Initial Jobless claims for the week of Jan 30 rose to 480,000 which were higher than the estimated 461,000. Continuing claims for the week of Jan 23 also [...]