This could be a record-breaking year for bank failures.
Through Nov. 17, not a single U.S. bank or thrift has failed in 2005.
If that holds for the remaining six weeks of the year, it would be the first time since the creation of the Federal Deposit Insurance Corp. in 1934 that no financial institution has gone under.
It's been 16 months since the last failure, a small bank i...
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Submitted by admin on Wed, 2005-11-23 12:00.
U.S. Stock-Index Futures Slip on Oil, Interest-Rate Concern
Nov. 22 (Bloomberg) -- U.S. stock-index futures fell on concern that possible further interest-rate increases and higher oil prices will sap consumer demand.
``Risks remain on the consumer side,'' said Simon Clinch, a fund manager at F&C Asset Management in London, which oversees $4 billion in U.S. stocks. ``Inte...
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Submitted by admin on Tue, 2005-11-22 12:00.
U.S. Stock-Index Futures Slip on Oil, Interest-Rate Concern
Nov. 22 (Bloomberg) -- U.S. stock-index futures fell on speculation further interest-rate increases and higher oil prices will sap consumer demand. Home Depot Inc., the world's largest home-improvement retailer, dropped in Europe.
``Risks remain on the consumer side,'' said Simon Clinch, a fund manager at F&C As...
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Submitted by admin on Tue, 2005-11-22 12:00.
MIAMI — The catastrophic collection of hurricanes that bullied the South over the last two seasons and rang up nearly $28 billion in damage threatens to create a new class of homeless — a diaspora of already-struggling people who were displaced by the storm, then displaced in the effort to rebuild.
These are people made homeless by the madness of seven hurricanes in 15 months, people...
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Submitted by admin on Mon, 2005-11-21 12:00.
Sovereign Bancshares Inc.'s first two Central Texas branches are just the beginning for the Dallas-based independent bank.
The bank's downtown Austin location will be in an 11,500-square-foot building at 600 W. Fifth St. and will employ seven people. The bank also plans to open a location in Cedar Park by early 2006. That branch is awaiting approval from regulators.
"We think Aust...
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Submitted by admin on Mon, 2005-11-21 12:00.
From the moment President Bush's tax restructuring panel announced its proposals for simplifying the federal tax code, one thing was clear: If this passes, Californians will pay more.
Fully $17 billion more in federal taxes than they do now, according to state Treasurer Phil Angelides, about $2,200 per taxpayer per year, or $500 per year for every man, woman and child in California, citi...
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Submitted by admin on Mon, 2005-11-21 12:00.
Pig farmers and soybean producers can use futures contracts to lock in favorable prices, so why not homeowners?
Soon, they'll get the chance. The notion that homeowners should be able to hedge against falling prices has been floating around in academic circles for years. Finally, the Chicago Mercantile Exchange says it will begin offering housing futures contracts in April.
"The dr...
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Submitted by admin on Mon, 2005-11-21 12:00.
— It was no easy feat to get fractious House Republicans to vote for a budget bill that lays out nearly $50 billion in savings. Yet it may prove to be a cakewalk compared with upcoming talks with the Senate.
For starters, the budget plan passed only after GOP leaders jettisoned a contentious plan to allow oil exploration in an Alaskan wilderness area. By doing so, they sidestepped a...
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Submitted by admin on Sun, 2005-11-20 12:00.
The catastrophic collection of hurricanes that bullied the South over the last two seasons and rang up nearly $28 billion in damage threatens to create a new class of homeless - a diaspora of already-struggling people who were displaced by the storm, then displaced in the effort to rebuild.
These are people made homeless by the madness of seven hurricanes in 15 months, people who had hous...
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Submitted by admin on Sun, 2005-11-20 12:00.
Under the scheme, which will be effective from December 15, a person joining it will have to deposit a minimum recurring deposit (RD) of Rs 1,000 and its multiples and he will get the benefit of life insurance cover with double accident benefit.
The premium for the insurance will be paid by the bank and it will not be debited to the customers' account, AMP Sanmar's COO K V Srinivasan to...
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Submitted by admin on Sat, 2005-11-19 12:01.
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