Rajnath Singh refuses to pinpoint blame about 'rumours' on son

Rajnath Singh refuses to pinpoint blame about 'rumours' on son

There has been some reports of Rajnath Singh's son being ticked off by PM Narendra Modi...
HC moved for restoring playground used for helipad for Jaya

HC moved for restoring playground used for helipad for Jaya

A former DMK MLA has filed a plea in Madras High Court seeking restoration of football ground in a stadium in Cuddalore...

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Jan 10 2013, 05:44 IST
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SummaryBank of America Corp is looking to sell collection rights on at least another $100 billion of mortgages after announcing similar deals for more than $300 billion on Monday, according to two sources familiar with the situation.

BofA to sell service rights on $100 bn of mortgages

Bank of America Corp is looking to sell collection rights on at least another $100 billion of mortgages after announcing similar deals for more than $300 billion on Monday, according to two sources familiar with the situation. Any sale would be the latest example of a big bank deciding that collecting mortgage payments on some loans is too costly, and the cost of capitalising the business was too high given new capital rules. Banks have been unloading these assets for years. These sales are an opportunity for smaller companies like Nationstar Mortgage Holdings and Walter Investment Management that specialise in managing these collection rights, known as mortgage servicing rights, and do not have to follow bank capital rules.

Peugeot Q4 sales decline 20% on Europe woes

PSA Peugeot Citroen, Europe’s second-largest carmaker, delivered 20% fewer vehicles in the fourth quarter as a push abroad failed to protect the company from a recession in its home region. Sales of cars, vans and kits of components ready for assembly fell to about 720,000 vehicles from 901,000 a year earlier, based on calculations derived from nine-month and full- year published figures. Deliveries last year dropped 17% to 2.97 million, Paris-based Peugeot said Tusday in a statement. “The sales figures look as bad as one would expect,” said Sascha Gommel, an analyst at Commerzbank AG with a reduce recommendation on the shares. “The company is suffering heavily in Europe, but also in other regions like Latin America,” and losing market share to competitors such as Volkswagen AG and Hyundai Motor Co.

Dish betters Sprint’s buyout offer for Clearwire

Dish Network put in a bid for Clearwire Corp on Tuesday that trumped Sprint Nextel’s $2.2 billion offer, setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum. Dish’s $2.28 billion offer appeared to affirm the satellite television provider’s ambitious plan to buy its way into the wireless services industry, on which it has already spent $3 billion acquiring much-needed capacity. Dish’s straight-talking chairman Charlie Ergen says he wants to enter the mobile broadband market, and one way of doing it is to partner with another operator.

Telefonica raises 1.5 bn euros with 10-year bond

Spain’s Telefonica raised 1.5 billion euros ($1.96 billion) on Tuesday via a 10-year bond, the first debt sale this year by a company from southern Europe. The telecoms group, with

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