By IBTimes UK
The persistent downturn in the US has taken a toll on mortgage debt in some of the major cities with homes continuing to be underwater about six years after home prices peaked, a recent report reveals. (May 26)
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UNEMPLOYMENT, CALIFORNIA, FLORIDA
By IBTimes
The CEO of a New York commercial mortgage company sold his personal condo at 15 Central Park West, one of the most expensive buildings in the world, for $23.3 million, according to city records filed Friday. (May 25)
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GOLDMAN SACHS, NYSE, LLOYD BLANKFEIN, THE NEW YORK TIMES, NEW YORK
By Reuters
Moody's Investor Service downgraded credit ratings of three large Nordic banks on Friday, citing their reliance on market funding, tough competition for retail loans, and their exposure to the spreading euro zone debt crisis. (May 25)
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BNP PARIBAS, JAPAN, AUSTRALIA, RETAIL, COMMERCIAL REAL ESTATE
By Reuters
Moody's cut ratings for DNB <DNB.OL>, Handelsbanken <SHBa.ST> and Nordea <NDA.ST> on Friday in an expected move, pointing to vulnerability in terms of the Nordic banks funding and asset quality, as well as modest profitability. (May 25)
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RETAIL, COMMERCIAL REAL ESTATE
By IBTimes
U.S. 30-year fixed mortgage rates dropped to 3.78 percent in the week ending May 24, down slightly from 3.79 percent in the previous week, mortgage financier Freddie Mac said Thursday. (May 24)
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FREDDIE MAC
By Reuters UK
Britain fell deeper into recession than first thought in the first quarter of this year after a sharp drop in construction output, raising the likelihood the Bank will need to inject more stimulus to protect the economy from the raging euro zone debt crisis. (May 24)
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IMF, GDP, INTERNATIONAL MONETARY FUND, QUANTITATIVE EASING, INVESTMENT
By Reuters UK
Spain announced a 9-billion-euro (7.22 billion pounds) bailout for troubled lender Bankia on Wednesday, while also seeking ways to help its highly indebted regions meet huge refinancing needs that threaten to drag the country deeper into the euro zone crisis. (May 23)
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UNEMPLOYMENT, GOLDMAN SACHS, EUROPEAN UNION, MANAGEMENT