National City sees loan loss provision of $700 mln
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National City Corp , the ninth-largest U.S. bank, said on Monday it expects its provision for loan losses for the fourth quarter to be about $700 million.
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Washington, D.C., Mayor Anthony Williams on Wednesday said the deal to bring baseball back to the U.S. capital was close to dead after the city council changed the plan to require private financing, a move Major League Baseball called unacceptable.
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A top official of Major League Baseball has labeled a new stadium financing proposal approved late yesterday by DC City Council as &quot;wholly unacceptable&quot; and offered to refund deposits that have been made toward purchasing tickets for Washington Nationals
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Hurt by the housing slump, the home mortgage lender said  it lost $724 million in the fourth quarter.
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The bank said it would sell a $5 billion stake to Chinaâs sovereign wealth fund as it posted a loss after taking a new $5.7 billion write-down related to mortgages.
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National City Corp , a large U.S. Midwest bank, on Wednesday said third-quarter profit fell 80 percent, as mortgage losses mounted even after the sale of a subprime lending unit to Merrill Lynch & Co .
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One of the nationâs largest home builders posted a loss for its most recent quarter as it wrote down the value of its inventory.
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Washington, DC, Mayor Anthony Williams will try to get financing for a Major League Baseball stadium back on the city council agenda next week after the council
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MIAMI - Tough times in the national housing market led to a company record loss of $513.9 million for Lennar Corp. in the third quarter, with drops in sales prices and home deliveries compounded by heavy charges to write down land values.
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Morgan Stanley  on Wednesday  said it has suffered a $3.7 billion loss stemming from its U.S.  subprime mortgage exposure, which it expects will reduce  fourth-quarter earnings by about $2.5 billion.
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The bank posted a fourth-quarter loss of $11.28 billion, and a loss for the entire year, besieged by investments in U.S. subprime mortgages. It said it expected more problems in 2008.
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National City Corp. (NCC.N: Quote, Profile, Research) on Thursday said third-quarter profit rose a greater-than-expected 72 percent, helped by a recent acquisition and its consumer and corporate banking businesses.
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Countrywide Financial, the nationâs largest mortgage lender, said yesterday that it had lined up $12 billion of financing to help weather a housing slowdown that it expects to lead to widespread layoffs.
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National City Corp. on Thursday said third-quarter profit rose 72 percent as the financial holding company benefited from its corporate and consumer businesses and recent acquisitions.
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The government says it will cover losses by financial institutions providing money to the troubled bank.
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SunTrust Banks Inc., the seventh- largest US bank, said it will restate results for the first and second quarters of this year, increasing profit, because the company incorrectly calculated loan losses.
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The company said it expects to post its second quarterly loss in more than 50 years because of a hefty one-time charge.