| GMAC Financial Swings to Loss on ResCap NEW YORK (AP) -- GMAC LLC said Tuesday it lost $724 million in the final quarter of 2007 as the housing slump and disruptions in the credit and capital markets battered the lender's home mortgage division.... hosted.ap.org |
Moody's confirms MBIA Aaa rating after bond insurer lifts capital Moody's Investors Service says it has confirmed MBIA Inc.'s crucial Aaa rating because the bond insurer has boosted capital enough to offset losses from exposure to complex securities that have been hit hard by the mortgage crisis. feeds.marketwatch.com |
Oil Prices Surpass $110 A Barrel Oil prices rose to new trading highs above $110 a barrel, driven by the further weakening of the dollar, while demand has fallen. Gasoline consumption fell 0.7 percent last week compared to the same week last year. feeds.cbsnews.com |
Pernod to swallow up Absolut vodka Pernod Ricard SA agreed to buy Vin & Sprit AB of Sweden for 5.63 billion euros to gain the Absolut vodka brand and bolster its position as the world's second-largest liquor company.Paris-based Pernod forecast as much as 150 million euro ... english.people.com.cn |
ADB provides grant to fund road project in western Mongolia The Asian Development Bank (ADB) will offer 37.6 million US dollars in a grant to help Mongolia embark on a road project linking western Mongolia to China and Russia, according to a deal signed here on Friday. Under the agreement, t ... english.people.com.cn |