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Money fund assets fell by $1.04 billion to $2.582 trillion in most recent week

The Canadian PressMay 16, 2013 20:01
NEW YORK, N.Y. - Total U.S. money market mutual fund assets fell $1.04 billion to $2.582 trillion for the week that ended Wednesday, according to the Investment Company Institute. Assets of the nation's retail money market mutual funds fell $1.30 billion to $892.45 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $910 million to $705.2 billion. Tax-exempt retail fund assets fell $380 million to $187.24 billion.

Freddie Mac posts second-biggest profit in its history

May 13, 2013 10:47
By Margaret Chadbourn WASHINGTON (Reuters) - Freddie Mac <FMCC.OB>, the No. 2 provider of U.S. mortgage money, posted its second-largest quarterly profit in company history in the first quarter due to rising home prices, falling mortgage delinquencies and increased refinance activity.

Money fund assets rose by $19.54 billion to $2.583 trillion in most recent week

The Canadian PressMay 9, 2013 17:45
NEW YORK, N.Y. - Total U.S. money market mutual fund assets rose $19.54 billion to $2.583 trillion for the week that ended Wednesday, according to the Investment Company Institute. Assets of the nation's retail money market mutual funds rose $3.28 billion to $893.73 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category rose $2.36 billion to $706.11 billion. Tax-exempt retail fund assets rose $910 million to $187.63 billion.

Mortgage giant Freddie Mac posts $4.6B net income for Q1; doesn't request new federal aid

The Canadian PressMay 8, 2013 09:35
WASHINGTON - Mortgage giant Freddie Mac earned $4.6 billion from January through March, helped by a stronger housing market. The government-controlled company has now turned a profit in its past six quarters. It paid a dividend of $7 billion to the U.S. Treasury from its first-quarter earnings and requested no additional federal aid. The earnings compared with net income of $577 million in the first quarter of 2012.

Obama nominates NC Dem Rep. Melvin Watt to housing finance post, former lobbyist as FCC chief

The Canadian PressMay 1, 2013 00:18
WASHINGTON - President Barack Obama on Wednesday tapped a veteran Democratic congressman to lead the Federal Housing Finance Agency and a top fundraiser and former lobbyist to head up the Federal Communications Commission. Rep. Melvin Watt, D-N.C., would oversee federal mortgage lenders Fannie Mae and Freddie Mac.

Measure of signed contracts to buy US homes rises to 3-year high in March

The Canadian PressApril 29, 2013 10:45
WASHINGTON - The number of Americans who signed contracts to buy homes rose in March to the highest level in three years, pointing to higher sales this spring. The National Association of Realtors said Monday that its seasonally adjusted index for pending home sales rose 1.5 per cent to 105.7. That's the highest since April 2010, when a homebuyer's tax credit boosted sales. It's also above February's reading of 104.1.

JC Penney reaches deal with Goldman Sachs for $1.75B loan to fund its operations, pay off debt

The Canadian PressApril 29, 2013 10:00
PLANO, Texas - J.C. Penney on Monday confirmed that Goldman Sachs will provide it with $1.75 billion in financing. Rumours about the financing had begun to circulate Friday. The five-year senior secured term loan can be used to fund the company's operations as well as pay off some of its debt. It will be secured by real estate, as well as an interest the company's other assets and some of its subsidiaries.

Goldman Sachs lines up $1.75 billion J C Penney loan - source

April 26, 2013 17:15
By Caleb Frazier and Alistair Barr (Reuters) - Goldman Sachs has arranged a $1.75 billion (1.13 billion pounds) financing package for J.C. Penney Co Inc <JCP.N>, backed by the department store chain's real estate and other assets, a source familiar with the situation said on Friday. Shares of the ailing retailer closed 11.5 percent higher at $17 on Friday, having touched their highest levels in nearly two months, after CNBC first reported the financing had been arranged.

US stocks close lower on mediocre earnings

Agence France-PresseApril 19, 2013 18:32
US stocks eked out a gain Friday but it wasn't enough to keep the week from ending in the red. A poor report on Chinese economic growth, a series of mixed earnings reports and even the Boston marathon bombing and subsequent manhunt conspired to push US stocks lower for the week. The Dow Jones Industrial Average finished 317.55 (2.14 percent) lower at 14,547.51. The broad-based S&P 500 closed 33.60 (2.11 percent) down at 1,555.25, while the tech-rich Nasdaq Composite Index dropped 88.89 (2.70 percent) to 3,206.06.

Bank of America revenue drops, legal settlement stings

April 17, 2013 07:30
By Rick Rothacker and Tanya Agrawal (Reuters) - Bank of America Corp's <BAC.N> revenue fell across almost all its businesses in the first quarter, and the bank was hit yet again by mortgage mess cleanup costs, showing the difficulties Chief Executive Brian Moynihan faces in moving past the housing crisis. Many of the bank's revenue generators - including consumer banking, mortgages and debt, currency and commodities trading - turned in weaker performances. All told, adjusted revenue fell 8.4 percent to $23.85 billion.
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