Financial news on August 09, 2008
Business and Financial news
Delphi, the bankrupt former auto parts unit of General Motors, said that its net loss narrowed to $551 million in the second quarter from a year earlier, when it had costs from lawsuits and a plant closing. Read more..
The clients most in need of help often get the least access to competent financial advice. But Citi’s global wealth management unit has come up with a way to try to serve this untapped market. Read more..
The euro tumbled Friday to near the $1.50 mark — its lowest level against the dollar since February — amid new signs that the European economy was slowing. Read more..
Belvedere, the French maker of Sobieski vodka, is in advanced talks with private equity funds about a stake sale as it seeks to emerge from creditor protection. Read more..
Caryl M. Stern, chief executive of the United States Fund for Unicef, discusses philanthropy and the state of the world’s children. Read more..
Gaping losses at Fannie Mae and Freddie Mac are causing the two mortgage giants to slow their purchases of home loans at a time when the government is counting on them to help prop up the housing market. Read more..
If you are a prospective home buyer waiting for the bottom of the housing market, there is another fact you need to take into account: mortgage rates are rising. Read more..
For almost 10 months, the story of John Edwards’s affair remained the nearly exclusive province of the National Enquirer. Read more..
Rackspace Hosting, a San Antonio company that provides Web hosting to corporate clients, went public Friday, but its shares sank 20 percent in their first day of trading. Read more..
According to a new study, many supermarket goods are being packaged to sell in ever smaller quantities, while prices stay the same. Read more..