Mortgage and Financial News From 2007-10-30 Page 5

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• Covered bond revival is led by Santander

  Financial Times - The bank reported healthy demand for its €1.5bn, five-year covered bond – debt that is secured against pools of mortgages ... Tuesday’s successful placement is likely to give heart to banks in Spain, which is the second-biggest issuer of covered ...
  2007-10-30 03:12:00

• UBS reports first quarterly loss in five years on U.S. subprime mess

  International Herald Tribune - ... UBS on Tuesday reported its first quarterly loss in five years as a result of bad investments tied to subprime mortgages in ... asset management at UBS still showed a pretax profit of 369 million francs, although it was down 18 percent from the second ...
  2007-10-30 12:42:00

• Merrill Lynch CEO retires amid losses

  Chicago Tribune - However, as the second-highest paid investment bank CEO, he is expected to secure retirement benefits and stock awards ... Any replacement will face the daunting task of cleaning up investments in subprime mortgages and other risky types of debt ...
  2007-10-30 05:07:00

• Earnings Roundup: MGM Mirage, UBS

  MSN MoneyCentral - LAS VEGAS (AP) -- MGM Mirage's third-quarter profit rose 18 percent as the world's second-largest casino company notched ... AP) -- UBS AG swung to third-quarter net loss on Tuesday, largely as a result of bad investments in U.S. subprime mortgages ...
  2007-10-30 12:42:00

• Ex-Merrill Lynch CEO to get $161M

  MSNBC - O'Neal, the second-highest paid Wall Street CEO in 2006, retired from Merrill Lynch & Co. Inc. on Tuesday, almost a week ... loss was precipitated by a $7.9 billion third-quarter writedown, as the company revalued assets backed by shaky mortgages. O ...
  2007-10-30 03:48:00

• St. George Bank's Profit Climbs to Record, Boosted by Lending

  Bloomberg - George Bank Ltd. reported an 8.2 percent gain in half-year profit, the second Australian bank in a week to post record ... drawing on customers' savings to help fund loans while companies such as Rams Home Loans Group struggle to finance mortgages ...
  2007-10-30 05:35:00

• United Overseas' 3rd-Quarter Net Rises on Loans, Fees (Update2) (Bloomberg.com)

  Oct. 30 (Bloomberg) -- United Overseas Bank Ltd., Singapore's second-largest bank by assets, said third-quarter profit rose 8.2 percent, boosted by higher fees and commissions, and as loan demand increased in the city-state.
  2007-10-29 11:27:51

• Earnings Roundup: MGM Mirage, UBS (AP via Yahoo! Finance)

  MGM Mirage's third-quarter profit rose 18 percent as the world's second-largest casino company notched higher sales from its restaurants and other businesses outside gaming, and drew income from hurricane insurance recoveries.
  2007-10-30 12:09:15

• St. George Bank's Profit Climbs to Record, Boosted by Lending (Bloomberg.com)

  Oct. 31 (Bloomberg) -- St. George Bank Ltd. reported an 8.2 percent gain in half-year profit, the second Australian bank in a week to post record earnings on increased lending.
  2007-10-30 05:42:45

• Help wanted: Merrill Lynch CEO (CNN Money)

  Taking on the top job at Merrill Lynch could turn an executive into a Wall Street legend, but it also has the potential to ruin anyone who takes the CEO post from the just-departed Stanley O'Neal. That stark choice may be one of the reasons Merrill hasn't lined up anyone just yet to lead the firm out of the crisis sparked by large losses from junk mortgages.
  2007-10-30 11:52:17

• FirstService reports record second quarter results (CNW Group via Yahoo! Finance)

  FirstService Corporation today reported record results for its second quarter ended September 30, 2007 and confirmed its financial outlook for its fiscal year ending March 31, 2008.
  2007-10-30 04:30:00

• Bank of China Profit Growth Trails Rivals on Subprime (Correct) (Bloomberg.com)

  (Corrects to say $322 million in second paragraph.) Oct. 30 (Bloomberg) -- Bank of China Ltd., the nation's third-largest bank, reported third-quarter profit growth that trailed rivals as losses related to U.S. subprime mortgages dented earnings.
  2007-10-30 02:12:45

• Paulson says housing still not at bottom, strong dollar in US interest ...

  Forbes - ... will be repriced 'over the next 18 months,' though he noted the subprime mortgage ... his 'strong commitment' to a 'strong dollar,' which is in the US national interest. ... News and its third party content providers for your personal information only ...
  2007-10-29 11:35:00

• A Dark Unseen Scandal Star?

  Slate - The Des Moines Register only quoted Thompson's attempt to ballyhoo his right-from-the-start credentials: "I was a ... pundit)! At a lecture today at the Milken Institute, economist/blogger Tyler Cowen said he didn't think the subprime mortgage ...
  2007-10-30 03:34:00

• Centennial Bank Holdings, Inc. Announces Third Quarter 2007 Financial ...

  MSN MoneyCentral - ... held for sale, as well as the discontinuation of the company's residential mortgage ... assets (cash) 0.51% (0.98)% 1.25% 0.25% 1.34% Net Interest ... of the third quarter 2007, average deposits were $1.9 billion, reflecting only a ...
  2007-10-30 05:35:00

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