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U.S. mortgage applications slip, loan rates dip

U.S. mortgage applications slid last week even as mortgage rates edged lower, with requests for loans to buy homes declining for the first time since early July, an industry group said on Wednesday.

MBA seeking to transform Fannie, Freddie - WSJ

The U.S. Mortgage Bankers Association will call on Congress to transform U.S. government-controlled mortgage lenders Fannie Mae, Freddie Mac into several smaller privately held companies that would issue mortgage securities with a government guarantee, the Wall Street Journal reported.

U.S. commercial property boom decades away: report

The level of U.S. commercial real estate deals seen in the boom years of 2005 through 2007 may take a generation to return, according to a report by real estate services company Jones Lang LaSalle Inc.

Nikkei battered by yen, worry about US financials

Japan's Nikkei stock average slid 2.5 percent on Wednesday, dragged down by exporters hit by a stronger yen amid renewed worry about the health of the U.S. financial system.

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American Airlines to cut 921 flight attendant jobs

AMR Corp's American Airlines said on Tuesday it would cut 921 flight attendant jobs, part of a previously announced capacity cut as the industry struggles with flagging demand.

Foreclosures, unemployment sap Florida economy

Florida's economy is shrinking in another crippling blow to the housing market of the state, which leads the United States in foreclosures and is grappling with record levels of unemployment.

Audits Planned for High Mortgage Deductions

The Internal Revenue Service plans to step up its reviews of taxpayers who take the mortgage interest deduction and target some for audit.

RHJ raises stakes in Opel poker with sweetened bid

Belgian finance investor RHJ International (RHJI.BR) raised the stakes in the ongoing bidding war with rival Magna (MGa.TO) for GM's GM.UL Opel unit, as sources said the U.S. automaker's board was due to discuss the deal.

Pending Home Sales on a Record Roll

Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

Chrysler U.S. sales down 15 percent in August: source

Chrysler Group LLC's U.S. sales fell 15 percent to 93,222 units in August due to inventory shortages related to extensive summer shutdowns during its bankruptcy restructuring, a source briefed on the matter said on Tuesday.

GM U.S. August sales fall 20.2 percent

General Motors Co [GM.UL] posted a 20.2 percent drop in U.S. sales in August from a year earlier, the highest sales of the year, supported by the U.S. government's

Cash-poor Philly borrows $275 mln to pay vendors

Philadelphia will take out a $275 million short-term loan from JPMorgan Chase to pay vendors that have gone without compensation since July because of one of the the worst budget crises in nearly 50 years, Democratic Mayor Michael Nutter said on Tuesday.

Ex-Tyco CEO Kozlowski petitions for freedom

Former Tyco International Ltd Chief Executive Officer Dennis Kozlowski, imprisoned for up to 25 years for stealing from the company, is seeking to be released early.

S.Africa govt support makes MTN-Bharti deal likelier

South Africa declared support for a proposed tie-up between domestic telecoms operator MTN and India's Bharti Airtel on Tuesday, making the complex cash-and-shares deal more likely to succeed.

Canada to apply existing laws to PetroChina bid

Canada will apply existing foreign ownership laws to PetroChina's bid to buy Canadian oil sands assets but will not introduce further barriers to investing in the country, Prime Minister Stephen Harper said on Tuesday.

Paulson's AngloGold bet points to inflation hedge

Billionaire hedge fund manager John Paulson's big stake in AngloGold Ashanti is a strand of his heavy exposure to gold and not designed to gain from the slim chance of a merger bid.

Europe could delay Oracle-Sun deal: sources

The European Commission could decide to delay Oracle Corp's $7.4 billion acquisition of Sun Microsystems Inc with less than 48 hours to go before a deadline, two sources familiar with the situation said on Tuesday.

Ford U.S. August sales rise 17 percent

Ford Motor Co's U.S. sales rose 17 percent in August, a second consecutive month of increases, bolstered by the U.S. government's

Stuttgart prosecutors continue Porsche raids

Stuttgart prosecutors raided another apartment and confiscated material in connection with a probe of Porsche (PSHG_p.DE) employees, the spokeswoman for the Stuttgart prosecutor's office said Tuesday.

No delay for car makers on EU chemicals ban

Car makers will not be granted a delay to an agreed 2011 European ban on climate-damaging chemicals in the air conditioners of new car models, European Parliament officials said on Tuesday.

UPDATE 1-Rambus shares slide after antitrust trial delay

Rambus Inc shares fell more than 15 percent on Tuesday after a San Francisco judge pushed back a key antitrust case involving the chip designer until next year.

U.S. auto sales boom but clunker hangover looms

U.S. auto sales boomed in August as consumers burned through $3 billion in government incentives, leaving automakers to contend with both inventory shortages and uncertain demand in the months ahead.

BUY OR SELL-Boeing management shuffle may impact shares

Boeing Co, whose shares have gained about 14 percent this year, faces some uncertainty as it reshuffles management of its commercial airplanes division, which includes the long-delayed 787 Dreamliner program.

Volvo Car sees good demand for luxury cars in India

The Indian unit of Volvo Car Corp, a subsidiary of Ford Motor Co (F.N), expects industry sales of luxury cars to rise to about 10,000 this year from about 7,000 last year and to keep growing in double-digits for some years.

GM board to discuss Opel's future Tuesday -sources

The General Motors [GM.UL] board of directors will discuss the future of Opel in a telephone meeting on Tuesday, two sources familiar with the matter told Reuters.

UPDATE 1-Chrysler U.S. sales down 15 pct in August-source

DETROIT - Chrysler Group LLC's U.S. sales fell 15 percent to 93,222 units in August due to inventory shortages related to extensive summer shutdowns during its bankruptcy restructuring, a source briefed on the matter said on Tuesday.

BofA-Merrill upgrades Coach to buy

Banc of America Securities-Merrill Lynch upgraded Coach Inc to buy from neutral, citing a successful start to the handbags and accessories maker's strategy of lowering price points.

Chrysler U.S. sales down 15 pct in August-source

Chariot urges shareholders to reject Lundin slate

Chariot Resources Ltd urged its shareholders on Tuesday to vote for its management's nominees and reject a slate of four directors nominated by Lundin Mining Chairman Lukas Lundin.

Pacific Alliance hires 4 Deutsche Bank Asia bankers

Pacific Alliance Group (PAG), an Asia-focused alternative investment manager, said on Tuesday that it hired four former senior Deutsche Bank executives to expand its distressed asset investment team.

U.S. factories see growth; China on recovery path

Manufacturers from several nations delivered upbeat news on Tuesday, indicating a recovery from the deepest global recession since World War Two is gradually gaining traction.

Lenovo eyes Shanghai listing, profit by March

Lenovo, the world's No. 4 PC brand, says it plans to list on the Shanghai stock exchange when rules permit, opening an opportunity for the firm in one of the world's best performing stock markets.

Forex.com parent seeks $125 mln in IPO

Gain Capital Holdings Inc, an online provider of retail foreign exchange trading services, is planning to raise up to $125 million in the public markets, according to a regulatory filing on Monday.

Fresh appetite for Gulf IPOs seen after Ramadan?

The market for initial public offerings (IPO) in the Gulf looks set to reopen as stock markets and the oil price recover, and bankers expect a few companies to test the waters when Ramadan ends.

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