Financial News Wire

Mortgage rates trending higher
Mortgage rates moved higher this week after spending a month within a hair or two of 4.5%, the latest surveys showed. The 30-year fixed-rate loan (charted below) was at 4.6% in the closely watched Freddie Mac tally, up from 4.51%…
Read more on Los Angeles Times

Stalled church redevelopment gets new life
share: digg facebook twitter Transformation of the historic First Church of Christ, Scientist into The Sanctuary condos stopped in August 2010, when the original developer defaulted on the development loan. Now, it’s back. Pathfinder Pollin Sanctuary Holdings, an affiliate of San Diego-based Pathfinder Partners, purchased the senior development loan on the project from a syndicate of lenders and …
Read more on seattlepi.com

Temasek Seeks Opportunites in China as Long-Term Outlook Remains Bullish
Temasek Holdings Pte, Singapore’s state-owned investment company, is “bullish” on China and seeking deals even after selling some of its stakes in two of the nation’s banks this week for .6 billion.
Read more on Bloomberg

China to act on local debt worries
China has stated it is looking into ways to regulate local government borrowing.
Read more on RTE News

ECB signals plans for further rate rises
European Central Bank president Jean-Claude Trichet signaled plans for further rate rises.
Read more on Sky News Australia

Has the EU’s stress test failed?
The collapse of two Danish banks this year reveals gaping chasms in the European Union’s bank stress tests, including the failure to model a scenario in which a eurozone member defaults. 7 Jul 2011 6:09 AM
Read more on Business Spectator

Ex-WaMu Executives, FDIC Fail to Settle Suit, Lawyer Says
Ex-Washington Mutual Inc. Chief Executive Officer Kerry Killinger and two other former bank officials ended speaks with the Federal Deposit Insurance Corp. on settling a lawsuit, a lawyer said.
Read more on BusinessWeek

UPDATE 1-Lonmin reorganises debt with facilities worth bln
(Adds detail) LONDON, JULY 6 – Lonmin PLC , the world’sthird-largest platinum producer, has reorganised its bank debt,improving financing costs and extending the maturity of existingloans with new …
Read more on Reuters UK Focus via Yahoo! UK & Ireland Finance

Posh take Reds midfielder on loan
Peterborough sign Manchester United midfielder Ryan Tunnicliffe on a six-month loan deal, with defender Scott Wootton likely to follow.
Read more on BBC News

Moody’s Downgrades Portugal to Junk Rating
Moody’s Investors Service Tuesday slashed Portugal’s credit rating into junk territory, saying there is great risk the country will need a second round of official financing before it can return to capital markets.
Read more on CNBC

Zacks Bull and Bear of the Day Highlights: Discover Financial Services’, Masco Corporation, Toyota Motor, Honda Motor …
Zacks Bull and Bear of the Day Highlights: Discover Financial Services’, Masco Corporation, Toyota Motor, Honda Motor and Nissan Motor
Read more on Zacks.com via Yahoo! Finance

Corn Gets Creamed
Today’s Huge Ag boom is sponsored by ethanol subsidies from the state.
Read more on Ludwig von Mises Institute

Nigeria: Obasanjo Suggests Incentives for Youth Farmers
Former President Olusegun Obasanjo over the weekend in Ibadan advocated increased incentives from Federal, Says and Local governments in the country to stimulate the interest of graduates in agriculture. This, he said, would stem the declining number of farmers in the nation at a time when the youths were showing no interest or total apathy to farming,
Read more on AllAfrica.com

Improving rentals is priority for Jacksonville nonprofits as housing market falls
Before Mayfair Village, Bryan Bartley crashed on the sofas of friends and family members.
Read more on The Florida Times-Union

Mill loan up in the air
CONCERN has been raised over a Government plan to loan money to the Triabunna woodchip mill buyer.
Read more on Weekly Times

Reverse Mortgage Market Giants Exit the Game
News that the two largest providers of reverse mortgage loans would be exiting the market has left some elderly borrowers both surprised and concerned. Official word from the banks – Bank of America and Wells Fargo – themselves, however, gives the assurance that existing loan holders can rest easy, as while they will not originate [...] Reverse Mortgage Market Giants Exit the Game is a post from …
Read more on The Inquisitr

Stocks: Market rises as Greece clears final bailout hurdle
Stocks are closing broadly higher after Greece cleared a final hurdle toward receiving its next installment of emergency loans. It was the fourth straight day of gains.
Read more on Tulsa World

Three Pakistani ex-generals face probe for Rs.1.82 bn loss
Islamabad, July 2 (IANS) A Pakistani parliamentary watchdog has formally held responsible three retired army generals for a loss of Rs.1.82 billion to the public exchequer, a media report said.
Read more on IANS India Private Limited via Yahoo! India News

Ways To Save On Credit, Debit, And Banking
Balancing credit cards, student loans, checking and savings accounts can be quite daunting. Make sure you aren’t paying more than you should — and that you are getting all the benefits you deserve — with these 12 tips.
Read more on WJTV Jackson

Greek lawmakers OK austerity plan
Greece’s lawmakers on Wednesday approved a key austerity bill, paving the way for the country to get its next vital bailout loans that will prevent it from defaulting next month.
Read more on MSNBC

Stocks close up; market’s huge run in fourth day
Stocks rose sharply Thursday, as the market’s run completed its fourth day, after Greece cleared a final hurdle toward receiving its next installment of emergency loans.
Read more on MSNBC

Greece clears final hurdle to get bailout funds
Greece has faced down street violence and strikes for the sake of financial aid it was promised and needs to avoid bankruptcy. Now its fellow European countries will be expected to come up with a second rescue package to convince investors that the 17-nation euro will survive the debt crisis.
Read more on AP via Yahoo! Finance

Asian Currencies Set for Biggest Gain This Year on Rate Increase Outlook
Asian currencies headed for their biggest weekly advance this year, led by South Korea’s won and the Malaysian ringgit, as regional central banks raised interest rates and concern eased that Greece will default.
Read more on Bloomberg

Used Automobile Proton Wira 1.8 XLI (A) A/B 2000
Category: Cars User : B3Garage_car4sale Date : Thursday, 30/06/11 – 12:53PM Description : Proton Wira 1.8 XLI (A) A/B 2000 1.6 Converted to 1.8 Endorsed by JPJ Accident Free, New Paint, 15?Srims, SE Bodykits, 4 Disk Brake, Clean Interior, Smooth Engine, Tip-Top Condition, Must View. Automobile Price : RM13,900.00 Downpayment from : 20%* *Subject to Bank Approval Bank loan financing provided …
Read more on KLue

Dodgers Win Approval of Million Bankruptcy Loan as MLB Ends Opposition
Frank McCourt, the Dodgers owner. Photographer: Ramin Talaie/Bloomberg
Read more on Bloomberg

TOFFEES EXPECT YOBO SWITCH
Everton chairman Bill Kenwright anticipates Joseph Yobo’s proposed switch to Fenerbahce to be finished in the next few days. The 30-year-old centre-back spent last season on loan at the Turkish club and has expressed his desire to make the switch permanent.
Read more on Sporting Life

Buffett’s Forgotten Helps California Bridge Budget Gap
California Controller John Chiang has for Warren Buffett.
Read more on BusinessWeek

Buffett’s Forgotten Helps Californians Bridge State’s Billion Gap
There’s also more than ,000 owed to director Steven Spielberg , part of a .1 billion cache of dormant savings accounts, store credits and forsaken royalty payments that has only grown since 2007 when Chiang, a 48-year-old Democrat, took steps to return more unclaimed property to owners.
Read more on Bloomberg

Cash loss fear in salary move
Burdwan, June 27: The state’s rural and co-operative banks are worried about losing out on service charges and loan interest because of Mamata Banerjee’s decision to disburse schoolteachers’ salaries through nationalised banks.
Read more on The Telegraph