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BP PLC reported a 28% rise in second-quarter profit on Tuesday, exceeding analyst expectations, as crude oil soared to record levels and natural gas also made big gains.
BP (BP), Europe’s second biggest oil producer behind Royal Dutch Shell PLC, posted profit of $9.47 billion for the three months ending June 30, up from $7.38 […]
Filed under: marketing by Wolf
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In June 2008, Democrat Barack Obama raised more money than Republican John McCain in McCain's home state of Arizona.
Obama raised $432,000 compared to McCain's take of $313,000, reports the Arizona Republic.
Over the last year, McCain has raised twice as much as Obama in Arizona, with a total of $4.7 million. […]
Filed under: management by Wolf
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Wachovia Corp., the nation’s fourth largest-bank, said Monday that it is leaving the wholesale mortgage lending business.
Beginning July 25, the company will no longer offer mortgages through brokers, joining other lenders making similar moves to exit the troubled sector. Rival Bank of America (BAC, Fortune 500) got out of the business several months […]
Filed under: economics by Wolf
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The Philippine central bank, which last week raised its benchmark interest rate for the second straight month, may increase borrowing costs further as inflation intensifies.
“Given the current inflation environment and given the risk to the outlook, interest rate hikes cannot be ruled out at this point,'' Governor Amando Tetangco said in Manila today. […]
Filed under: Uncategorized by Wolf
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Capital One Financial Corp. said Thursday its second-quarter earnings fell 40%, due to a sharp increase in its loan-loss provision amid further deterioration in the credit markets.
The financial services firm’s net income fell to $452.9 million, or $1.21 per share, from $750.4 million, or $1.89 per share, a year earlier.
Analysts polled by Thomson Financial, […]
Filed under: finance by Wolf
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Sales of homes in Long Island and Queens, New York, declined in the second quarter as mortgage companies tightened lending standards.
The number of sales fell 5.3 percent to 8,694 from a year earlier, appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said in a report today. The median price in […]
Filed under: money by Wolf
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The Treasury Department says the federal deficit swelled to $268.7 billion in the first nine months of this budget year as record spending during the period outpaced revenues.
The department’s fresh look at the government’s balance sheets, released Friday, shows that the deficit for the budget year that began Oct. 1 was up sharply from […]
Filed under: management by Wolf
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Fannie Mae and Freddie Mac, ranked Aaa by the world's largest credit-rating companies, are being treated by derivatives traders as if they are rated five levels lower.
Credit-default swaps tied to $1.45 trillion of debt sold by the two biggest U.S. mortgage-finance companies are trading at levels that imply the bonds should be rated […]
Filed under: finance by Wolf
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InBev NV (INTB.BR: Quote, Profile, Research, Stock Buzz) increased pressure on reluctant takeover target Anheuser-Busch Cos Inc (BUD.N: Quote, Profile, Research, Stock Buzz) on Monday with a plan to replace the U.S. rival’s board of directors, which had rejected its $46.3 billion takeover offer.
Belgium-based InBev filed a preliminary proposal with the U.S. Securities […]
Filed under: term by Wolf
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Policy makers in emerging economies from Russia to Vietnam may have to start acting less like Ben S. Bernanke and more like Paul Volcker if they want to bring inflation under control.
With currencies tied to the U.S. dollar, officials in many developing countries have had to keep their monetary policies linked to the […]
Filed under: legal by Wolf
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