Fed's Sterns: Foreclosures in housing to rise
Minneapolis Federal Reserve Bank President Gary Stern said on Monday he expected the U.S. housing market to weaken further because of a large pool of unsold homes.

Fed and Market square upover rate cut
It would be hard to imagine a worse moment for the Federal Reserve and the market to collide over an interest rate cut that the market wants and expects, but the US central bank is not prepared to deliver. Yet the risks of such a collision appear to be increasing by the day.

Congress tackles subprime crisis
The most comprehensive legislative response to the subprime crisis emerged on Thursday as the House of Representatives passed a bipartisan bill imposing liability on companies that package mortgages into securities and setting new standards for mortgage origination.

Gas Prices close to all-time high
The price of gasoline has jumped another 13 cents in the last two weeks, close to the all-time high set earlier this year. The average price of a gallon of self-serve regular is $3.09, the Lundberg Survey found. That's just 9 cents below the record set in May.

OPEC to look at the impact of weak U.S. dollar
OPEC will study the weak U.S. dollar's effect on the oil cartel's earnings and investigate the possibility of a currency basket, Iran's oil minister said Sunday.

U.S. auto sales could drop to 14.5 mln in '08
The U.S. light vehicle market will fall to 14.5 million to 15 million units in 2008 from near 16 million this year, a private equity executive who previously was president of Chrysler said on Sunday.

G-20 calls on Asia for More Currency Flexibility
The Group of 20 nations called for ``more flexibility'' in the currencies of emerging Asian nations after European and Canadian officials stepped up pressure on China to reduce its trade surplus with a stronger yuan.

Celgene Agrees to acquire Pharmion for $2.9 B in cash, stock
Celgene Corp., the maker of thalidomide-based drugs for blood cancers, will acquire Pharmion Corp. for $2.9 billion in cash and stock to gain a leukemia product that extended lives in a study.

Standard Charted: a £25 billion takeover target
Standard Chartered could be put into play as a £25 billion takeover target after it emerged that China's three leading banks have been looking at buying a large stake in the UK-based emerging markets lender.

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Labels: Takeaways for Today

This entry was posted by David Choi, on Sunday, November 18, 2007. You can leave your response.