Archive for May 14th, 2008

FBI: U.S. housing market ripe for mortgage fraud

Wednesday, May 14th, 2008

The failing U.S. housing market is ripe for mortgage fraud, the FBI warned in a report Tuesday. Common types of mortgage fraud are misrepresentation of income or assets, forged documents, misrepresentation of a borrowersâ??intent to o ...

4,000 JPMorgan employees worldwide face job loss

Wednesday, May 14th, 2008

As many as 4,000 JPMorgan Chase & Company employees worldwide face losing their jobs as the bank prepares to accept staff from Bear Sterns Cos while it deals with turmoil in financial markets, people familiar with the situation said Tuesday ...

Cambodian PM suggests vehicle license plates be offered at point of sale

Wednesday, May 14th, 2008

Cambodian government officials and citizens have welcomed a plan recently announced by Prime Minister Hun Sen for vehicle retailers to provide license plates on purchase, as customers have complained about a set of lengthy, complex procedur ...

Dollar trades in upper 104 yen in Tokyo

Wednesday, May 14th, 2008

The U.S. dollar traded near a one-week high at the upper 104 yen level Wednesday morning in Tokyo. At noon, the dollar was quoted at 104.60-65 yen against 104.70-80 yen in New York and 103.60-63 yen in Tokyo at 5 p.m. Tuesday. ...

New Zealand, Japan sign customs agreement

Wednesday, May 14th, 2008

New Zealand Prime Minister Helen Clark said on Wednesday that New Zealand and Japan signed a Customs Mutual Recognition Arrangement (MRA), which will help exporters move their goods more quickly and efficiently between the two countries. ...

Airbus announces further delay on delivery of passenger A380 superjumbo

Wednesday, May 14th, 2008

Airbus,together with its mother company EADS, announced that the Airbus aircraft manufacturing unit will deliver twelve A380 aircraft in 2008 and twenty-one in 2009, instead of the thirteen in 2008 and twenty-five in 2009 it had previously ...

London stock market ends lower driven by inflation

Wednesday, May 14th, 2008

A sharp jump in inflation pushed British shares lower on Tuesday as prospects of an early cut in interest rates faded. The benchmark FTSE 100 index closed 8.7 points lower, or 0.14 percent, at 6,211.9 after figures showed CPI inflat ...

Eurozone finance ministers attack golden handshakes

Wednesday, May 14th, 2008

Eurozone finance ministers launched an attack on Tuesday against excessive golden handshakes, threatening to tax the large payments to senior executives when they leave a company. "We believe that the excesses of captains of indust ...