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Business and Financial
Sep 15, 2009
"Goldilocks" Back in Town - Slow but Sustainable Recovery in Sight NEW YORK and LONDON -- Investors' optimism consolidated last month after its surge in August, with portfolio managers reassessing their positions to gradually embrace the current global economic recovery,…
Sep 15, 2009
As BP continues to focus its wind business on its major development portfolio in the US, it announced the sale of its wind power interests in India. Green Infra Limited has purchased BP's subsidiary, BP Energy India Private Limited (BPEIPL),…
Sep 3, 2009
Washington, D.C.Rasheeda M. Canty, a former mortgage broker, pled guilty today to engaging in an extensive mortgage fraud scheme involving properties in the District of Columbia and Maryland. Canty, 35, of Upper Marlboro, Maryland, entered her plea at a hearing…
Sep 3, 2009
Washington, DC The U.S. Commodity Futures Trading Commission (CFTC) has sued Schaumburg, Illinois-based Maize Capital Management, LLC (Maize Capital) and its chief operating officer Scott M. Ross, for solicitation fraud and issuing false statements involving a $6 million commodity pool.…
Aug 23, 2009
The Federal Trade Commission has put a stop to a deceptive foreclosure "rescue" operation that charged homeowners $1,200 based on the false promise that it could save them from losing their homes. The operators of the business are barred from…
Jul 22, 2009
Intended to improve the disclosures consumers receive in connection with closed-end mortgages and home-equity lines of credit The Federal Reserve Board on Thursday proposed significant changes to Regulation Z (Truth in Lending) intended to improve the disclosures consumers receive in…
Jul 14, 2009
In June 2009, 11,820 resale homes recorded as being sold, while there were 9,980 recorded sales in May and 7,840 sales for a year ago. Foreclosure activity in June 2009 represented 34 percent (4,060 transactions), while there were 7,760 traditional…
Jul 14, 2009
TUCSON, Arizona -- The U.S. Army selected the Raytheon Company (NYSE: RTN)-Lockheed Martin (NYSE: LMT) Javelin Joint Venture to provide life-cycle contract support for the Javelin anti-tank missile and command launch unit. The five-year $298.6 million contract has a fiscal…
Jun 30, 2009
Washington, DC Conditional loan commitments in the amount of $8 billion have been made for the development of innovative, advanced vehicle technologies. The loan commitments include $5.9 billion for Ford Motor Company to transform factories across Illinois, Kentucky, Michigan, Missouri,…
Jun 30, 2009
Washington, DC The Government National Mortgage Association (Ginnie Mae) posted $38.98 billion in total mortgage-backed securities (MBS) issuance in May. For the first five months of calendar year 2009, Ginnie Mae provided approximately $163 billion of liquidity to the secondary…
Jun 30, 2009
Phoenix, AZ Arizonas seasonally adjusted unemployment rate increased five-tenths of a percentage point to 8.2 percent in May from 7.7 percent in April. Arizona remains below the national average which also rose by five-tenths of a percentage point from 8.9…
Jun 16, 2009
There were 9,980 resale homes recorded sold in May 2009, up slightly from the 9,100 recorded sales in April and 7,210 sales for a year ago. Foreclosure activity in May 2009 represented 30 percent (3,035 transactions), while there were 6,950…