Icelanders voted in a referendum on Saturday on a $5 billion deal to repay Anglo-Dutch loans, with an expected resounding “No” set to further delay foreign aid and hopes for economic recovery.
Despite the consequences of rejecting the standing deal, Icelanders are set to do just that, angry about what they see as harsh repayment terms [...]
Posts Tagged ‘loans’
Iceland votes over foreign debts, economy at risk
March 6th, 2010 by Financial Writer
Tags: debts, european union, iceland, icelanders, loans, private bankers
more...EU leaders reach deal to rescue Greece
February 11th, 2010 by Financial Writer
European leaders have reached a deal to provide aid to Greece, EU president Herman Van Rompuy said on Thursday, in an unprecedented move to stave off a broader crisis in the 16-nation bloc that shares the euro.
“There is an agreement on the Greek situation. We will communicate now the agreement to the other leaders,” van [...]
Tags: eu leaders, european leaders, financial profligacy, greece, herman van rompuy, loans, refinance debts
Obama proposes measures to shore up small businesses
February 6th, 2010 by Financial Writer
US President Barack Obama called Saturday for new steps to support America’s small businesses, saying they are key to rebuilding the economy on a new, stronger foundation and creating jobs.
“These companies represent the essence of the American spirit - the promise that anyone can succeed in this country if you have a good idea and [...]
Tags: barack obama, business lending, loans, small businesses, us president
Mortgage applications rise in first week of 2010
January 13th, 2010 by Financial Writer
U.S. mortgage applications rose in the first week of 2010, reflecting surging demand for home refinancing loans as interest rates dropped, industry data showed on Wednesday.
Demand for loans to purchase a home, however, only rose marginally. A continuation of this trend would not bode well for the U.S. housing market, which has been showing signs [...]
Tags: home refinancing, interest rates, loans, mortgage applications, us housing market, us mortgage
Fed earned $45 billion in 2009: report
January 12th, 2010 by Financial Writer
The Federal Reserve made record profits in 2009 and will return $45 billion to the Treasury, after its efforts to prop up the economy created a windfall for the government, the Washington Post reported.
The $45 billion reflects the highest earnings in the 96-year history of the U.S. central bank, the newspaper reported on its website [...]
Tags: fed, Federal Reserve, loans, mortgage, us central bank, us economy
World Bank warns unemployment threatens US economy
November 11th, 2009 by Financial Writer
Stubbornly high joblessness threatens to trigger loan defaults and drag on consumption next year, hobbling a U.S. economy struggling to rebound from recession, World Bank President Robert Zoellick said Wednesday.
Zoellick warned that the U.S. unemployment rate, which jumped to a 26-year high of 10.2 percent in October, will likely remain elevated in 2010.
“You’re going to [...]
Tags: business investment, loans, mortgages, recession, unemployment, us economy, world bank
Mortgage Delinquences Set Record
September 21st, 2009 by Financial Writer
High U.S. unemployment keeps pushing up the rate of mortgage delinquencies, which could in turn drive personal bankruptcies and home foreclosures, monthly data from the Equifax Inc credit bureau showed on Monday.
Among U.S. homeowners with mortgages, a record 7.58 percent were at least 30 days late on payments in August, up from 7.32 percent in [...]
Tags: delinquencies, financial, lenders, loans, mortgage
Case: Commercial Real Estate Next to Fall
September 10th, 2009 by Financial Writer
Wellesley College economics professor Karl Case, co-founder of the S&P/Case-Shiller Home Price Index, says commercial real estate “absolutely” could be the next domino to fall.
“It’s not as big as residential,” he pointed out in an interview with Dan Mangru of Moneynews.
About 30 percent of U.S. loans are secured with residential real estate, compared to 13 [...]
Tags: economics, economy, loans, real estate
Mortgage lending for house purchases rises 16%
June 11th, 2009 by Financial Writer
A total of 35,600 loans were advanced to people for house purchase during the month, the highest level since October last year, according to the Council of Mortgage Lenders.
The upturn builds on a recent run on positive data on the housing market, as buyers are tempted [...]
Tags: loans, mortgage lenders, mortgage lending, UK Finance