World Business Briefing: France: Funds Affected by Subprime Loans Reopen
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BNP Paribas, the French bank, said it reopened two investment funds it had frozen amid problems in the subprime mortgage sector in the United States.
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Credit Suisse  reduced total  write-downs from the subprime crisis on Tuesday in dramatic  contrast to rising charges by rivals, and raked in billions of  new investments from wealthy clients.
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Investors poured back into equities on Thursday, hoping a rescue plan for ailing bond issuers would stem credit losses, while allegations of a massive trade fraud at Societe Generale added to financial sector woes.
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Societe Generale , the French bank reeling from a trading scandal, launched a rights issue at a steep discount on Monday to bolster its balance sheet after losses due to the U.S. subprime crisis.
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NEW YORK/WASHINGTON  - The mortgage-backed securities market and Wall Street are becoming a roadblock for U.S. banks trying to dig out of the subprime mess.
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Key economic data from the United  States this week may seal the case for the first cut in the  federal funds rate in more than four years, which would help  ease investor concerns about a fallout from the subprime  crisis.
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THE HUMAN SIDE of the subprime crisis is that more than 2 million homeowners are at risk of losing their homes. If immediate action is not taken, the repercussions of allowing this meltdown is likely to affect virtually every community, drive the economy into recession, and affect economies overseas. The most effective and just remedy is for the lenders and ...
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Sovereign wealth funds from the likes of Abu Dhabi, China and Singapore are quietly bailing out the West's subprime crises.
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Britain and the US are in for a "very severe recession," according to Philippe Jabre. The Geneva-based hedge fund manager, who predicts only a short-lived bounce in stock markets, said that anyone with debt faced problems.
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A number of U.S. states are setting up funds to help homeowners with risky subprime mortgages refinance to more affordable loans in a bid to slow the rate of home foreclosures, The Wall Street Journal reported on its Web site.
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An emergency U.S. interest rate cut last week rekindled perceptions the Federal Reserve has a bias to protect the stock market, and a French bank trading scandal has made matters worse.
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Credit Suisse  trimmed its full-year write-downs linked to the subprime crisis to 2.0 billion Swiss francs ($1.82 billion) on Tuesday in contrast to rivals hits by rising charges and raked in billions in new investments from wealthy clients.
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Credit Suisse trimmed its full-year subprime writedowns to 2.0 billion Swiss francs ($1.82 billion) but its stock fell as investors took fright at the bankâs remaining exposure to the credit crisis.
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Investor's Business Daily - After slogging through a correction in May, a number of European exchange traded funds have recovered in recent weeks and ventured to new highs.
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Key economic data from the United States this week may seal the case for the first cut in the federal funds rate in more than four years, which would help ease investor concerns about a fallout from the subprime crisis.
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SociÃ©tÃ© GÃ©nÃ©rale also announces further â¬2bn-plus write-down because of credit crunch
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Investor's Business Daily - Bill Gross, chief investment officer at Pacific Investment Management Co., or PIMCO, said the subprime mortgage crisis will hurt the economy and force the Fed to cut interest rates by year-end. &quot;The subprime crisis is not an isolated event and it won&#39;t be contained by a few days of headlines in the New York Times,&quot; said Gross, who manages the world&#39;s biggest bond fund. He said subprime woes will reduce consumption and new-home building over the next 12 to 18 months.