Japan Expected To Hold Rates Steady Despite Strong Growth Gross domestic product in Japan rose at a higher-than-expected annual rate of 4.8 percent in the fourth quarter, but economists called it a one-time surge.... Read Full Article Music Industry, Souring On Apple, Embraces Amazon Service At the Super Bowl next month, the music industry will be switching teams ? from Apple to Amazon.com.... Read Full Article Bidding Opens On Homer No. 756 Electronic bidding began for Barry Bonds’s 755th and 756th home-run balls, with the price for the record-breaker starting at $100,000.... Read Full Article Pentagon Seeks Authority To Train And Equip Foreign Militaries The task was previously administered by the State Department, and the defense secretary asked to raise the annual budget for the effort to $750 million, a 250 percent increase.... Read Full Article Target And Talbots Show Gains In Earnings Target, the No. 2 discount chain behind Wal-Mart Stores, said profit rose to $651 million, or 75 cents a share, from $554 million, or 63 cents a share, a year earlier.... Read Full Article |
Deutsche NewsDeutsche loses as Dresdner imperils AllianzDeutsche Bank, Germany’s biggest bank, today disclosed its first quarterly loss in five years as Allianz said that the problems at its Dresdner Bank operation could threaten medium-term profits goals.Read Full Article Deutsche Bank to raise €9bn for acquisitionsDeutsche Bank is set to raise €9 billion (£7 billion) by issuing bonds to finance an expected acquisition spree after Josef Ackermann, the chairman at Germany’s largest lender, reiterated his interest in buying Postbank, majority owned by Deutsche Post.Read Full Article Crisis Catches Up to Deutsche BankThe bank reported a pretax loss of 254 million euros ($396 million) for the first quarter, its first loss in five years, after writing down $4.2 billion in tainted loans and mortgage-backed securities.Read Full Article Reality of loans climate leaves no room for pretenceThe markets were yesterday looking to Ben Bernanke, chairman of the Federal Reserve, to confirm the growing hope that the worst of the credit crunch may be over. He did not oblige.<br/> <br/> The best he could come up with was that measures taken by central banks in recent weeks had stabilised the situation “somewhat”. He even came close to admitting that the US may already be in recession as problems in the financial markets “weighed on real economic activity”.<br/> <br/> In the UK, that weight is becoming more apparent. Every day more than 3,800 people are coming off cheap fixed-rate mortgage deals and discovering the hard way that the credit crunch is not just an abstract phrase in the financial pages. From paying an easy 4 or 5 per cent, they face being stranded and paying the lender’s standard variable rate of 6 or 7 per cent unless they can find a new source of cheap debt.<br/> <br/> The banks are having to navigate in a strange new world - a world where wholesale funding is neither plentiful nor cheap, a world where brownie points are earned not for winning mortgage customers but for turning them away, a world where savers have to be wooed and generously rewarded.<br/> <br/> Some lenders are dealing with these conditions better than others. Pulling mortgage products abruptly or tightening lending criteria does not go down well with customers trying to negotiate house purchases. Mortgage brokers, which still dominate the industry, particularly hate the chopping and changing.<br/> <br/> The withdrawal has become an unseemly scramble with banks leapfrogging each other to worsen terms so as to avoid being anywhere near the most competitive.<br/> <br/> The banks risk being accused of profiteering by racking up their interest rates and of gouging vulnerable borrowers with nowhere else to turn. But interest rates have until recently been raised only for new customers. The cost of funding these new mortgages has rocketed, whether the bank relies on depositors, who can now command 6 per cent or more, or the wholesale markets, where Libor is still three-quarters of a percentage point above base rate.<br/> <br/> The alternative approach to mortgage rationing is just to say “No”. <a href="http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article3663213.ece">HSBC’s direct banking offshoot, First Direct</a>, has adopted this line, simply rejecting any applicant who is not already a customer. The decision was forced on it by a wave of outside loan applications which was running at five times normal levels. First Direct’s systems couldn’t cope and it was taking as long as ten weeks to get a quotation letter.<br/> <br/> Of course, this sends potential customers elsewhere, driving up rates and fuelling the threatened cycle of lower consumer spending and lower house prices.<br/> <br/> Nor is there any sign of easing of the pressure on the corporate sector, where the credit crunch is starting to bite some companies hard. Yesterday Imperial Energy, a UK oil company focused on Russia, said it had been forced to scrap plans for a debt financing because the rates being demanded were no longer attractive. Instead it announced a $600 million rights issue, driving its shares down by 25 per cent at one stage.<br/> <br/> In the City, hopes that conditions will ease soon are fading fast and banks are wielding the knife. Citigroup yesterday cut more than half the 25 staff in its leveraged finance business, which handles lending to companies with high debt. Deutsche Bank and JPMorgan have axed about 40 per cent of their teams.<br/> <br/> Despite all this, the stock market has been saying that the worst may indeed be over. It certainly doesn$’t feel right to call the bottom yet. But then again it never does.Read Full Article Stocks Surge on Hopes Financial Woes Are EasingInvestors hoped that mortgage-related write-offs at UBS and Deutsche Bank could signal the last of Wall Street’s subprime woes.Read Full Article External News for: deutscheDeutsche Boerse 3Q Net Falls 38% On Lower Volume - Wall Street JournalDeutsche Boerse 3Q Net Falls 38% On Lower VolumeWall Street JournalFRANKFURT (Dow Jones)--German exchange operator Deutsche Boerse AG (DB1.XE) reported a 38% decline in ...Deutsche Boerse Places Final Bid for Warsaw ExchangeBloombergDeutsche Boerse, two others bid for Warsaw bourseReutersDeutsche Boerse bids for control of Warsaw bourseForbesFinancial Times -DealBreaker.Com (blog) -Wall Street Journalall 52 news articles »Deutsche Boerse 3Q Net Falls 38% On Lower Volume - Wall Street JournalDeutsche Boerse 3Q Net Falls 38% On Lower VolumeWall Street JournalFRANKFURT (Dow Jones)--German exchange operator Deutsche Boerse AG (DB1.XE) reported a 38% decline in ...Deutsche Boerse Places Final Bid for Warsaw ExchangeBloombergDeutsche Boerse, two others bid for Warsaw bourseReutersDeutsche Boerse bids for control of Warsaw bourseForbesFinancial Times -DealBreaker.Com (blog) -Wall Street Journalall 52 news articles »Deutsche Tel, Telcom Italia Beat Views But Weak Points Remain - Wall Street JournalMiamiHerald.comDeutsche Tel, Telcom Italia Beat Views But Weak Points RemainWall Street JournalBONN (Dow Jones)--Major European telcommunications companies Deutsche Telekom AG (DT) and ...German Stocks Gain; Deutsche Telekom, Metro, Software AG ClimbBloombergDeutsche Telekom profit up 7.2%, confirms guidanceMarketWatchDeutsche Telekom Q3 net income up 7 pctThe Associated PressInquirer -TopNews United States -Financial Timesall 207 news articles »Deutsche Boerse 3Q Net Falls 38% On Lower Volume - Wall Street JournalDeutsche Boerse 3Q Net Falls 38% On Lower VolumeWall Street JournalFRANKFURT (Dow Jones)--German exchange operator Deutsche Boerse AG (DB1.XE) reported a 38% decline in ...Deutsche Boerse Places Final Bid for Warsaw ExchangeBloombergDeutsche Boerse, two others bid for Warsaw bourseReutersDeutsche Boerse bids for control of Warsaw bourseForbesFinancial Times -DealBreaker.Com (blog) -Wall Street Journalall 52 news articles »Deutsche Tel, Telcom Italia Beat Views But Weak Points Remain - Wall Street JournalMiamiHerald.comDeutsche Tel, Telcom Italia Beat Views But Weak Points RemainWall Street JournalBONN (Dow Jones)--Major European telcommunications companies Deutsche Telekom AG (DT) and ...German Stocks Gain; Deutsche Telekom, Metro, Software AG ClimbBloombergDeutsche Telekom profit up 7.2%, confirms guidanceMarketWatchDeutsche Telekom Q3 net income up 7 pctThe Associated PressInquirer -TopNews United States -Financial Timesall 207 news articles »maxlinear, a TV tuner maker, files for IPO - The Associated PressVentureBeatmaxlinear, a TV tuner maker, files for IPOThe Associated PressMorgan Stanley & Co. and Deutsche Bank Securities Inc. are the book-running managers for the offering. The co-managers are UBS Securities LLC, Thomas Weisel ...maxlinear files for a $100 million IPORenaissance CapitalCarlsbad TV chip firm files for IPOSan Diego Union Tribunemaxlinear Files S-1 Registration Statement for Initial Public OfferingSYS-CON Media (press release)Wall Street Journal -socalTech.comall 83 news articles » |
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