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Sales of new homes in the US plunged unexpectedly in November, official figures indicated, as buyers favored distressed and foreclosed properties.
New home sales dropped 11.3% to an adjusted annual rate of 355000, commerce department figures indicated. That was the lowest level for seven months and defied expectations of a rise. Compared with a year ago, [...]
As US senators prepare to vote on the healthcare reform bill, an unlikely casualty of one of Barack Obama’s keystone policies has now emerge: tanning salons.
A 10% sales tax on salons that use sunbeds was slipped into the bill at the last minutes, replacing a tax on cosmetic procedures such as Botox injections, which became [...]
27Dec
Posted by admin as News
Record fees from debt issuance and a big jump in capital raisings this year have offset plunging deal revenues, annual figures show.
Investment banks earned $18bn from debt capital markets in 2009 as companies tapped bond markets heavily to shore up balance sheets, according to Dealogic. A 33% rise in revenues from debt issuance coincided with [...]
23Dec
Posted by admin as News
Stock markets in the US approached 14-month high after strong house sales offset disappointment over lower economic growth. The National Association of Realtors revealed a surprise 7.4% rise in existing home sales, to 6.54 million last month, the property market’s monthly best performance since February 2007.
The NAR reading was more than double the 3.3% growth [...]
Standard & Poor’s has given warning that nearly all of the world’s big banks lack sufficient capital to cover trading and investment exposure, risking further downgrades over the next 18 months unless they move swiftly to beef up their defenses.
Every single bank in Japan, the US, Germany, Spain, and Italy included in S&P’s list of [...]