Business News Headline - 20 August, 2008

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Last updated: Wed, 20 Aug 2008 22:07:16 EST

Fannie, Freddie shares dive on bailout fears, bonds up (Reuters) » Full Story

A home that has been foreclosed and repossessed by the bank up for sale in Burbank, California, July 20, 2008. (Fred Prouser/Reuters)Reuters - Fannie Mae and Freddie Mac shares plunged to their lowest levels in almost 20 years on Wednesday, while the mortgage companies' bonds rallied on the belief that an increasingly likely government bailout would wipe out shareholders but secure their massive debt.




California mulls probing senator over IndyMac crash (Reuters) » Full Story

Senator Charles Schumer (D-NY) listens to testimony from Federal Reserve Chairman Ben Bernanke during a hearing on the state of the economy on Capitol Hill, November 8, 2007. (Jason Reed/Reuters)Reuters - California's attorney general is reviewing a request by former employees of IndyMac Bancorp Inc to investigate whether a New York senator triggered the bank's collapse by releasing confidential information.




New York AG intensifies auction-rate debt probe (Reuters) » Full Story

New York Attorney General Andrew Cuomo (R), points towards Deven Sharma, president of Standard  and  Poor's, as he announces an agreement made with three rating agencies -- Moody's Investors Service, Standard  and  Poor's and Fitch Ratings -- to change their practices regarding residential mortgage-backed securities, in New York, June 5, 2008. (Chip East/Reuters)Reuters - New York's state attorney general office on Wednesday intensified its probe into auction-rate debt focusing on Bank of America Corp, Goldman Sachs and Deutsche Bank AG, while issuing a warning to brokerages.





[logo] Google News - Business   more  xml  hide  
Last updated: Wed, 20 Aug 2008 22:07:16 EST

Notables Voice Their Prescriptions for Fannie and Freddie - New York Times » Full Story

Citizen

Notables Voice Their Prescriptions for Fannie and Freddie
New York Times - 59 minutes ago
By VIKAS BAJAJ As policy makers work to ease the strain on the mortgage giants Fannie Mae and Freddie Mac, a consensus is emerging that the two companies will have to look substantially different in the long term.
Fannie, Freddie shares dive on bailout fears, bonds up Reuters
China Citic Bank Holds $1.18 Billion of Fannie, Freddie Debt Bloomberg
Forbes - MarketWatch - CNBC - CNNMoney.com
all 2,004 news articles


Architects and Engineers Express Doubt About Bloomberg’s Windmill ... - New York Times » Full Story

WNCT

Architects and Engineers Express Doubt About Bloomberg’s Windmill ...
New York Times - 1 hour ago
By KEN BELSON and DAVID W. DUNLAP Interviews with architects, engineers and energy experts on Wednesday suggest that Mayor Michael R. Bloomberg’s proposal to place wind turbines atop the city’s skyscrapers and bridges, as well as off the coastline of ...
NYC's Bloomberg Presses The Alt-Energy Key Forbes
Bloomberg eyes NYC skyline, sees wind turbines CNN
BusinessWeek - guardian.co.uk - EmpireStateNews.net - MarketWatch
all 162 news articles


FDIC Restructuring Some IndyMac Loans - Washington Post » Full Story

Sabah

FDIC Restructuring Some IndyMac Loans
Washington Post - 1 hour ago
By Renae Merle Federal regulators yesterday announced a plan to systematically modify the loans of at least 25000 homeowners with mortgages held by failed lender IndyMac in an attempt to create an industry model for assisting troubled borrowers.
FDIC Rides To Rescue Of IndyMac Borrowers Forbes
IndyMac Borrowers Get Lifeline Wall Street Journal
Bloomberg - CNNMoney.com - MarketWatch - Reuters
all 226 news articles


eBay: The Doldrum Years - Washington Post » Full Story

Sky News

eBay: The Doldrum Years
Washington Post - 4 hours ago
Can anything put the wind back in eBay's sails? The once-iconic auction site is making cosmetic changes to its fee structure and moving away from the auction model to emphasize more fixed-price listings.
EBay: Amazon-ification Takes Hold BusinessWeek
EBay Makes Fee Changes Aimed At Boosting Fixed-Price Sales CNNMoney.com
MarketWatch - Bloomberg - FOXBusiness - Seeking Alpha
all 376 news articles



[logo] NPR Topics: Business   more  xml  hide  
Last updated: Wed, 20 Aug 2008 22:07:16 EST

Digging For Gas In New York » Full Story
Rural communities in New York and Pennsylvania have seen intense leasing activity as energy companies have turned to natural gas buried deep underground. Extraction has potential to jump-start the flagging local economy, but it has also raised environmental concerns.

Rural communities in New York and Pennsylvania have seen intense leasing activity as energy companies have turned to natural gas buried deep underground. Extraction has potential to jump-start the flagging local economy, but it has also raised environmental concerns.

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The Media And The Economy » Full Story
Mark Jurkowitz, associate director of the Project for Excellence in Journalism, talks about media coverage of the economy and why the news hasn't always kept up with public interest and concern.

Mark Jurkowitz, associate director of the Project for Excellence in Journalism, talks about media coverage of the economy and why the news hasn't always kept up with public interest and concern.

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[logo] Reuters: Small Business News   more  xml  hide  
Last updated: Wed, 20 Aug 2008 22:07:16 EST

American Woodmark Q1 results lag Street view » Full Story
(Reuters) - Kitchen cabinet maker American Woodmark Corp posted quarterly results below market estimates as sales to its remodeling and new construction customers declined due to a weak U.S. housing market.


Arclight to fund NuCoastal's Texas power projects » Full Story
HOUSTON (Reuters) - An affiliate fund of ArcLight Capital Partners has made an investment in Houston-based NuCoastal Power Holdindgs to allow the company to complete five new power plants in South Texas, the companies said on Wednesday.


Hillcrest files patent suit against Nintendo » Full Story
WASHINGTON (Reuters) - Hillcrest Laboratories asked a trade panel to determine if Nintendo Co and its U.S. subsidiary have infringed four patents to make its top-selling Wii game, according to a filing on Wednesday and a Hillcrest statement.



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