28 Apr 2005 02:11 PM

The office of New York Attorney General Eliot Spitzer has started an investigation into dubious lending practices by the subprime lenders. Letters have been released to companies with large proportions of their clients being borrowers with less-than-stellar credit history, high relation of debt to income or high debt level. Spitzer’s

28 Apr 2005 12:48 PM

Italian Prime Minister Silvio Berlusconi seems to have some time before the next elections as Italian parliament voted for new government formed by Berlusconi.

28 Apr 2005 12:16 PM

Israel is going to strongly oppose the Russian President Vladimir Putin’s possible intention to sell arms to the Palestinians, an Israeli official said on Thursday as President Vladimir Putin arrived in Israel. The

28 Apr 2005 11:27 AM

According to Freddie Mac, the benchmark 30-year mortgage rates fell to 5.78%

28 Apr 2005 11:20 AM

Hoshyar Zebari was named foreign minister of Iraq on Thursday, Ali Abd al-Amir Allawi will be finance minister. The rest of the list of the new cabinet is still in progress. The National Assembly of Iraq mostly approved the partial cabinet list of Prime Minister Ibrahim al-Jaafari. Still,

28 Apr 2005 10:21 AM

Allied Domecq is approached by rival bidders admitting the possibility of a bidding war with the first bidder Pernod Ricard. Allied Domecq said on Wednesday that it had received a "preliminary approach" about a potential offer from a consortium

28 Apr 2005 10:13 AM

The world’s largest passenger plane, the Airbus A380, took off successfully on its initial flight Wednesday starting new page in the Airbus’s fight U.S. with rival Boeing Co for the global aviation market.

28 Apr 2005 09:59 AM

Procter & Gamble reported today that its third-quarter profit rose 13% on good sales of health products. Profit climbed to $1.72 billion, or 63 cents a share, from $1.53 billion, or 55 cents, in the previous year. Analysts were expecting 61 cents a share.

28 Apr 2005 09:54 AM

L. Dennis Kozlowski, former chief executive of Tyco International Ltd. on Wednesday denied charges on how loan programs of the company were abused by misplacing bonuses. Kozlowski testified Wednesday on larceny charges and tried to explain how his best intentions to increase business

28 Apr 2005 09:49 AM

Exxon Mobil Corp., the world’s largest oil company, reported today that its first-quarter profit rocketed 44% on high energy prices. Profit

28 Apr 2005 09:44 AM

The U.S. GDP rose 3.1% in the first quarter, the slowest growth in two years, according to the Commerce Department

28 Apr 2005 09:20 AM

Chinese top official announced governmental intention to introduce new rules to limit the expansion of foreign banks in China. The move if implemented would create essential obstacles for overseas investors like HSBC Holdings PLC and Citigroup Inc. that have injected great sums of money in the country.

28 Apr 2005 09:09 AM

U.S. initial jobless claims rose 21,000 to 320,000 in the week ending April 23, according to the Labor Department. The four-week moving average of initial claims fell by 8,000 to 323,000.

28 Apr 2005 09:04 AM

Central bank of India increased a benchmark interest rate for the second time in six months – a move that surprised market analysts. The

28 Apr 2005 08:32 AM

An unemployment rate for Europe’s largest economy Germany fell for the first time in 15 months indicating slight activity in taking spring outdoor jobs. Germany’s unemployment rate fell by 79,000 to 4.89 million, the Nuremberg-based Federal Labor Agency said Thursday, showng a decline in jobless rate by 0.2% (from 12% to 11.8%). Economists