Posts Tagged ‘News’

Romney and Gingrich get mean heading into Florida caucus

Tom Ramstack – AHN News Legal Correspondent Washington, D.C., United States (AHN) – The upcoming Republican caucuses in Florida are turning into a two-man race between Mitt Romney and Newt Gingrich, according to the latest polls. At the same time, Florida’s former governor warned that the campaign rhetoric is becoming so mean that it overlooks [...]

Bank of America posts a profit

Linda Young – AHN News Writer New York, NY, United States (AHN) – Bank of America reported a fourth-quarter profit of $2 billion compared with a $1.2 billion loss in the same period in 2010. The nation’s second largest lender said it had a full-year net profit of $1.4 billion compared with a net loss [...]

Debt crisis makes Mafia Italy’s biggest bank

Diane Alter – AHN News Reporter Rome, Italy (AHN) – Italy’s banking system has a new “boss.” Thanks to the country’s ballooning debt crisis, the Mafia is Italy’s biggest “bank,” according to a study by Confesercenti. The country’s four mafia groups have expanded from their storied strongholds in the sun-baked “Mezzogiomo” south of Rome, and [...]

Bank of America to settle Countrywide discrimination suit for $335 million

Matthew Borghese – AHN News Contributor Washington, DC, United States (AHN) – Bank of America (BoA) will settle a dispute with the U.S. Justice Department stemming from home loan discrimination. Authorities say BoA’s Countrywide unit discriminated against 200,000 African-American and Hispanic borrowers who qualified for prime loans but were nonetheless pushed to sign riskier subprime [...]

SEC charges former Freddie and Fannie execs with fraud

Diane Alter – AHN News Reporter Washington, D.C., United States (AHN) – The Securities and Exchange Commission on Friday charged six former executives of Fannie Mae and Freddie Mac with securities fraud for misrepresenting the holdings of their high-risk mortgage loans. Targeted were three former execs of Freddie Mac, including CEO Daniel Mudd, chief risk [...]

House to vote on tougher sanctions against Iran for nuclear program

Tom Ramstack – AHN News Legal Correspondent Washington, DC, United States (AHN) – The House of Representatives plans to vote on two bills as soon as Tuesday to increase economic sanctions against Iran for what U.S. lawmakers say is Iran’s program to develop nuclear weapons. The bills would freeze U.S. assets of countries or companies [...]

German chancellor warns financial crisis solution will take years

Diane Alter – AHN News Reporter Berlin, Germany (AHN) – German Chancellor Angela Merkel has pushed for stronger rules against overspending as the long-term answer to Europe’s debt crisis and says the fixes for the eurozone’s flaws must be written into changes in the basic EU treaty. The German leader laid out her stance while [...]

Dow holds strong gains Wednesday after Fed move

Diane Alter – AHN News Reporter New York, NY, United States (AHN) – U.S. stocks were enjoying an early “Santa Claus rally” Wednesday sparked by a move from the Fed and global central banks to add liquidity to markets. With an hour left in the trading day, the Dow Jones Industrial Average soared 385 points, [...]

European leaders seek new economic rules in meeting with Obama

Tom Ramstack – AHN News Legal Correspondent Washington, D.C., United States (AHN) – European leaders met with President Barack Obama Monday at the White House to figure out how to avoid another worldwide economic collapse. Obama is pressuring the 17-nation European Union to resolve its banking and debt crises before they drag down the U.S. [...]

Mortgage payments show rise in delinquencies

Diane Alter – AHN News Reporter New York, NY, United States (AHN) – More homeowners are having a hard time making their mortgage payments. According to credit reporting agency TransUnion, the rate at which mortgage holders were late with their payments by 60 days or more rose in the June-to-September period for the first time [...]

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